In a billion-dollar class-action lawsuit, Cristiano Ronaldo is accused of deceptive promotion in collaboration with Binance, alleging a surge in risky investments. This legal development reflects broader challenges in the crypto industry, highlighting the scrutiny faced by celebrities endorsing such ventures.
Xu LinCristiano Ronaldo faces legal repercussions as a class-action lawsuit accuses him of promoting Binance's unregistered securities through his NFT collections. The lawsuit alleges Ronaldo's endorsements fueled Binance's surge, leading to claims of influencing users' investment decisions, while the broader legal turmoil involving Binance and its founder adds to the scrutiny of celebrities in cryptocurrency promotions.
JixuCristiano Ronaldo is facing a potential class-action lawsuit following allegations that his endorsement of Binance, a leading cryptocurrency exchange, led to significant investor losses. Filed in a Florida District Court on Nov. 27, 2023, by plaintiffs Michael Sizemore, Mikey Vongdara, and Gordon Lewis, the lawsuit claims Ronaldo's association with Binance resulted in financial losses for investors.
Joy
JinseFinanceOpenSea faces criticism for promoting the dormant Fatzuki NFT collection, sparking concerns about the platform's due diligence. The controversy, marked by a sudden surge in Fatzuki's value and echoes of past scandals, raises questions about OpenSea's motives, especially amid recent staff layoffs and the project's questionable activity since July 2023.
JixuThe new policy, the most significant change to the platform under CEO Elon Musk, comes after many users began posting links to their accounts on other sites.
OthersLisa Braganca, former SEC enforcement branch chief, joined “First Mover” to discuss the implications for celebrities after Kardashian was fined for promoting a crypto token.
Coindesk
BeincryptoBeincryptoFounders of the U.S investment group Preston Johnson and Eben Smith are highly-regarded for creating popular NFT projects “Pixel Vault” and “PunksComics” and Digital Collectibles Agency, respectively.
Cointelegraph