Superstar Ronaldo got into trouble when cooperating with a virtual currency exchange.

Superstar Cristiano Ronaldo was sued by a group of investors in court in Florida. These people believe that Ronaldo’s participation in advertising for Binance – the world’s largest virtual currency exchange – has created false information that caused them losses during the investment process. The plaintiff requested compensation of up to 1 billion USD.

Ronaldo’s side then reportedly sent a request to dismiss the lawsuit. However, Newsweek said that Judge Roy Altman ruled against the above request: “We refuse the defendant’s request to dismiss.”

Ronaldo got into a lawsuit with a requested compensation of up to 1 billion USD

It’s unclear how long the incident will last, but it will definitely cause trouble for Ronaldo. Many people even fear that Ronaldo will be “empty-handed” if he has to pay 1 billion USD in compensation. According to estimates, CR7’s assets are only about 600-700 million USD.

Stormy collaboration

In November 2022, Binana launched a collection of non-fungible Tokens (NFTs) called “CR7″. The Portuguese superstar himself also participated in promoting this product and declared it a “gift to fans around the world for their support throughout the years.”

It is known that NFTs are virtual assets that can be bought and sold, but have no physical form – in other words, they only exist in digital form. They are used to mark ownership of a certain product, such as a painting or online video.

Ronaldo cooperates with virtual currency exchange

At the time of launch, the NFT products collaborated by Ronaldo were priced at 77 USD, but after only one year, their price was only 1 USD. Many investors lost money buying these NFTs before filing the CR7 lawsuit.