A $1 billiоn lawsuit has been filed against CRISTIANO RONALDO for his promotion of Binance, the biggest cryptocurrency exchange in the world.

The 38-year-old former Real Madrid and Manchester United player is accused of having “promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in co-ordination with Binance,” according to a document filed in a US district court in Florida.

Cristiano Ronaldo may be about to engage in a significant legal dispute.

The Times reports that the plaintiffs in the action have said that the losses on their investments resulted from his support of the business.

We’ve contacted Ronaldo’s representatives to get their thoughts.

The Al-Nassr forward and Binance inked a multi-year agreement last year to promote NFTs or non-fungible tokens.

These are digital assets that can be bought and sold that are used to verify the ownership of an image or video seen online.

In November 2022, Ronaldo and Binance worked together to build an NFT collection.

This would reward his faithful supporters “for all the years of support,” according to the Portuguese icon.

“It was important to me that we created something memorable and unique for my fans as they are such a big part of my success,” Ronaldo stated when the NFTs were released.

“With Binance, I was able to create something that honors supporters for their years of support while also capturing the spirit of the game.”

Changpeng Zhao, the CEO and co-founder of Binance, entered a guilty plea to charges of money laundering earlier this month.

As part of the 4 BILLIоN dollar settlement between Binance and the law department, he will personally pay a 50 million dollar fine.

After his contract with Manchester United was canceled midway through the 2021–2022 season, Ronaldo joined Al-Nassr and has been residing in Saudi Arabia ever since.

In 38 games since coming to the Middle East, he has 11 assists and 32 goals.