A collective lawsuit has been filed against Cristiano Ronaldo in the Florida district court (USA) in connection with advertising a cryptocurrency exchange.

According to Coin Telegraph, the lawsuit alleges that the Portuguese forward for ‘Al-Nasra’ ‘actively facilitated the offer and sale of unregistered securities’ in collaboration with one of the cryptocurrency exchanges, which led to losses for the plaintiffs.

The lawsuit also refers to the recommendations of the U.S. Securities and Exchange Commission (SEC), which warned celebrities about the necessity of disclosing incomes received for cryptocurrency advertising. The lawsuit claims that Ronaldo did not fulfill this requirement.

Additionally, the statement notes that Ronaldo’s audience influence, totaling 850 million subscribers on social media, had an impact on promoting the mentioned securities.

Last updated on 29 Nov 2023 - 19:21

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