Cristiano Ronaldo, the renowned footballer, is currently facing a billion-dollar class-action lawsuit in Florida. The lawsuit alleges that Ronaldo’s endorsement of Binance, the world’s largest cryptocurrency exchange, led investors to make unprofitable investments. It is claimed that Ronaldo actively promoted and supported the sale of unregistered securities in collaboration with Binance. Furthermore, Ronaldo is accused of selling non-fungible tokens (NFTs), which resulted in significant financial losses for investors. This legal action follows similar lawsuits against other celebrities, including Gisele Bündchen and Tom Brady, in relation to the bankruptcy of the cryptocurrency exchange FTX. The Federal Trade Commission (FTC) emphasizes that celebrities are accountable for their statements regarding a product and can be held responsible for false advertising claims. Notably, major organizations such as Major League Baseball, Formula 1, and Mercedes-Benz are also facing comparable lawsuits for endorsing FTX. The outcome of these cases remains uncertain, as a previous ruling placed some responsibility on the investors themselves, urging them to exercise caution and not blindly follow trends.

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Information	Details
Geography	Global
Countries
Sentiment	very negative
Relevance Score	1
People	None
Companies	Ronaldo, BBC, SEC, Binance, Kim Kardashian
Currencies	FintruX, kryptowährung, APENFT, US Dollar, Ethereum, Maxity, cristiano ronaldo, BUSD, Bitcoin
Securities	None