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It is claimed that Cristiano Ronaldo’s Binance-affiliated NFTs are encouraging investments in unregistered securities on the crypto exchange.
Professional football star Cristiano Ronaldo is currently facing a class-action lawsuit filed by plaintiffs affected by the advertising of the crypto exchange Binance, which is currently facing legal issues.
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In the application submitted to the Florida District Court on November 27, it is stated that Ronaldo allegedly “Collaborated with Binance to promote the offer and sale of unregistered securities, assisted and/or actively participated in it.”
Ronaldo, in mid-2022, established a multi-year partnership with Binance to introduce his nonfungible token’s (NFT) series. Additionally, In the complaint users who registered for Cristiano Ronaldo’s NFTs argue that the likelihood of them using Binance for other purposes, claiming that they are unregistered securities, including Binance’s BNB, is higher.
Also, this situation has raised serious concerns about the impact of Ronaldo’s NFT promotion on Binance’s reputation and the investment decisions of its users. Ronaldo’s relationship with the crypto world indicates the threshold of a legal conflict and is of great interest to the crypto community.
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