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Key Points:<ul><li>Ronaldo was accused of promoting unregistered securities through Binance’s platform.</li><li>Speculated a$750K settlement to avoid a high-profile public trial.</li><li>Legal risks for soccer stars endorsing cryptocurrencies highlighted amid rising industry concerns.</li></ul>In a surprising turn of events, global football sensation Cristiano Ronaldo finds himself entangled in a high-stakes legal dispute surrounding his collaboration with cryptocurrency exchange Binance. The class-action lawsuit, filed on November 27 in a Florida District Court, alleges that Ronaldo’s promotion of Binance through non-fungible token (NFT) collections resulted in investor damages, with claims of unregistered securities investments.Ronaldo, who inked a multi-year deal with <a href="https://cryptosnewss.com/binance-under-secs-lens-allegations-of-backdoor-access-linger-post-czs-guilty-plea/" rel="noopener noreferrer nofollow">Binance</a> to promote his exclusive NFT collections, comprising digital artworks and unique experiences, now faces accusations of actively participating in the sale of what regulatory authorities consider “unregistered securities.” The lawsuit contends that individuals purchasing Ronaldo’s NFTs were inadvertently led into engaging in other activities on Binance, including investments in allegedly unregistered securities like the BNB coin and associated cryptocurrency yield schemes.Recent developments suggest that Ronaldo could potentially settle the $1 billion <a href="https://www.essentiallysports.com/soccer-football-news-to-avoid-public-trial-in-america-cristiano-ronaldo-may-have-to-settle-for-750k-in-1-billion-lawsuit/" rel="noopener noreferrer nofollow">lawsuit</a> for $750,000 to circumvent a public trial in the United States. Drawing parallels with similar cases involving public figures like Shaquille O’Neal, Floyd Mayweather, and DJ Khaled, legal experts, including digital asset specialist lawyer Jemma Fleetwood, speculate that Ronaldo’s legal team might pursue a comparable settlement to mitigate the potential reputational and financial impact of a public trial.This legal conundrum isn’t isolated to Ronaldo within the realm of soccer and <a href="https://cryptosnewss.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency</a> endorsements. Former Barcelona player Andres Iniesta faced controversy in 2021 for endorsing Binance in a social media campaign. The increasing involvement of soccer players in promoting NFTs and participating in crypto exchange activities has raised regulatory concerns regarding legal risks and industry compliance._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/cristiano-ronaldos-1-billion-binance-battle-navigating-legal-storms-in-cryptocurrency-endorsements/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on December 1, 2023.

Cristiano Ronaldo’s $1 Billion Binance Battle: Navigating Legal Storms in Cryptocurrency Endorsements

Cryptos Newss

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