Binance Users Seek to Serve $1B Lawsuit to Ronaldo via Elon Musk’s X

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Jai Pratap

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Jai Pratap

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Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

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Last updated: 

January 17, 2024

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Binance customers are seeking approval from a Florida federal court to serve the world renowned soccer player Cristiano Ronaldo with the $1 billion proposed class action through the social media platform X, formerly Twitter.

In a latest filing, plaintiff Michael Sizemore is requesting an order authorizing to serve Ronaldo via X, and email to soccer player’s current counsel representing him in other federal litigation.

Ronaldo Faces Billion Dollar Class Action Lawsuit for Promoting Binance NFTs

Portuguese football icon Cristiano Ronaldo is currently facing a billion-dollar class-action lawsuit, accused of promoting non-fungible tokens (NFTs) linked to the troubled exchange Binance.

Filed in the Southern District of Florida in November last year, the lawsuit contends that Ronaldo’s endorsement of Binance was both deceptive and illegal.

Plaintiffs argue that partnerships between Binance and influential figures like Ronaldo led them into risky and costly investments.

The lawsuit claims that Binance’s fraudulent activities, including the sale of unregistered securities, were facilitated with the support of wealthy organizations and global celebrities, including Ronaldo.

Ronaldo is still promoting Binance as per a post on Binance’s X account on Jan 17, where the soccer legend can be seen with social media influencer Khaby lame wearing a Binance merchandise.

As reported earlier, Binance paid over $4 billion in penalties and restitution to different federal government agencies and admitted to wrongdoing. Then Binance CEO Changpeng Zhoa resigned from his position after filing a guilty plea. He currently awaits sentencing in the US which is scheduled for next month.