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‘Ssssuuuueeeed’ – Cristiano Ronaldo got sued for promoting the cryptocurrency site Binance

Despite US financial regulators labelling Binance as a "significant risk," Ronaldo endorsed the firm.

Cristiano Ronaldo of Portugal has been sued by three individual users of the cryptocurrency trading site Binance. After incurring losses while acquiring unregistered securities marketed by the business, the three consumers launched a class-action lawsuit against the footballer.

Ronaldo inked a multi-million dollar sponsorship contract with Binance, a China-based cryptocurrency trading company, in June 2022. The business, which began operations in 2017, was already under investigation by the governments of the United States and the United Kingdom for money laundering and tax evasion. The corporation has pled guilty to all of the allegations and admitted to engaging in illegal transfers.

Binance recruited Ronaldo to promote its services and feature in commercial advertisements. All three plaintiffs claimed to have lost money after investing in the unregistered securities after Ronaldo endorsed the company’s services. The plaintiffs also alleged that Ronaldo was aware of the restrictions that Binance had broken but opted not to warn his social media followers about the dangers.

Also read: Trent Alexander-Arnold to face ban for his celebration at the Etihad 

As Cristiano Ronaldo is sued, fans fill social media with hysterical reactions

Cristiano Ronaldo has been sued. (Source: Twitter)
Cristiano Ronaldo has been sued. (Source: Twitter)

The Al Nassr star Cristiano Ronaldo has been implicated in a lawsuit brought by customers of the cryptocurrency trading platform Binance. Ronaldo has been accused of marketing the business and its fraudulent services, which resulted in losses for many of his followers and later investors.

Binance has been accused of money laundering and other unlawful financial operations and has been ordered to pay $4.3 billion to US authorities as a result. Ronaldo, who has worked with the firm for marketing and advertisement, was accused of deceiving his fans and followers. The news took ‘X‘ by fire, as critics hilariously transformed the player’s iconic ‘Sui’ celebration to the word ‘Sued’. The following are some ‘X’ reactions:

Ronaldo’s supporters, on the other hand, came out in defense of the star, stating that he was not involved in Binance’s internal matters and so could not be accused of promoting the company. They said that rather than blaming the player, users who experienced losses should have handled their own financial transactions themselves.

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