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Editorials, Sports

Cristiano Ronaldo Faces $1B Suit Over Binance Endorsement

Al-Nassr star Cristiano Ronaldo has signed a sponsorship agreement with Crypto exchange Binance.

  • Toyosi Afolayan
  • 5th December 2023

Cristiano Ronaldo‘s recent weeks have been a whirlwind of on-field brilliance and off-field controversy. Just as fans lauded his sportsmanship in a penalty call, his latest headline involves a new deal with Binance, the crypto giant, followed by a lawsuit alleging he promoted “unregistered securities.”


It all started with a cryptic tweet from Binance: “Cooking something up with Cristiano.” Intrigued fans saw a video emerge, showcasing Ronaldo bathed in light, fueling speculation about the collaboration. The five-time Ballon d’Or winner then quotes the tweet saying, “Cooking something up with Binance.”


In the video, Ronaldo was seen standing in front of a camera, with a bright light shining behind him.



But then came the bombshell: a class-action lawsuit filed by Binance users accusing Ronaldo of promoting unregistered securities. They claim his star power influenced their decision to join Binance, despite his “vast resources” and awareness of the volatility in unregistered crypto assets.


This lawsuit throws a wrench into the celebratory mood surrounding the deal. While details remain under wraps, the accusation casts a shadow on the partnership.

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