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On a sporting level, Cristiano Ronaldo (38) is doing well. The Portuguese has already scored fifteen goals in thirteen league games for Al-Nassr this season and his team is in second place in the Saudi Pro League. He also qualified for the 2024 European Championship with Portugal without losing points. But off the field, Ronaldo is having a hard time.
As the financial portal “Coin Telegraph” reports, the superstar has been indicted. The reason for this is its advertising contract with the crypto platform ‘Binance’. The accusation: Ronaldo attracted many users through his advertisements. They are said to have carried out illegal transactions and are therefore responsible for investors’ monetary losses.
Blame for losing?
The lawsuit comes from a group of three investors who have suffered heavy losses on the platform. They now blame CR7 for this: users who came to ‘Binance’ because of Ronaldo previously used the platform for other purposes. For example, to invest in ‘unlisted securities’, according to the indictment.
According to the investors, Ronaldo should have known “that Binance was selling unregistered crypto securities” because of his “experience in investing.” Through his posts, he encouraged his followers to invest on the platform. It is still unclear whether the charges will go ahead. And it is not yet clear when a ruling can be expected.
There have already been a few court hearings
This is by no means the first problem surrounding “Binance”. The platform has already had to pay $4.3 billion in fines for money laundering, fraud and sanctions violations. And there is currently a lawsuit underway – also for fraud. Founder Changpeng Zhao risks prison and the verdict is expected in February 2024.
‘Binance’ has been focusing heavily on sports sponsorship for a long time. In addition to Ronaldo, athletes such as Formula 1 driver Pierre Gasly (27) and classification player Ana Maria Markovic (24) also advertise on the platform. (bjl)
Source : Blick
I’m Emma Jack, a news website author at 24 News Reporters. I have been in the industry for over five years and it has been an incredible journey so far. I specialize in sports reporting and am highly knowledgeable about the latest trends and developments in this field.
