Cristiano Ronaldo has been slammed with a class-action lawsuit that seeks at least one billion United States dollars in damages for his participation in promoting cryptocurrency-related "non-fungible tokens,"
also known as NFTs, which were issued by the struggling cryptocurrency exchange Binance.
According to the allegations made in the lawsuit that was submitted to the federal court in the Southern District of Florida on Monday, the football player's promotion of Binance was "deceptive and unlawful."
According to the plaintiffs, the connection between Binance and high-profile personalities like Ronaldo led them to become involved in investments that were both risky and expensive.
"Evidence now reveals that Binance's fraud was only able to reach such heights through the offer and sale of unregistered securities,
with the willing help and assistance of some of the wealthiest, powerful, and recognized organizations and celebrities across the globe – just like defendant Ronaldo," the language of the lawsuit reads.
"Binance's fraud was only able to reach such heights."When asked for comment on Thursday, representatives for the Portuguese player, who is now playing for Al-Nassr in Saudi Arabia,
declined to comment. In response to requests for comment from the Associated Press, Binance, which is the largest cryptocurrency exchange in the world, did not immediately respond for comment.