“Court Case Against Ronaldo for Binance: 29 Billion Lira Compensation in Question

Portuguese footballer Cristiano Ronaldo has been sued by numerous investors in the United States for the advertising agreement he made with Binance, the world’s largest cryptocurrency exchange.

In November 2022, Ronaldo signed a promotional agreement with Binance during the introduction of his own NFT collection. Ronaldo announced the collaboration on his social media account, saying, “Let’s change the NFT game with Binance.”

According to BBC, the cheapest NFT in the collection was priced at $77 (2,225 lira) when it was released for sale in November 2022, but a year later, its price dropped to approximately $1 (28.90 lira).

Many investors who claim to have incurred losses on the Binance exchange, stating that Ronaldo encouraged them, have collectively filed a lawsuit against the footballer, seeking 1 billion dollars (28.9 billion lira) in damages.”