They demand $1 billion from Ronaldo for advertising a crypto exchange
Recently, it was reported that a lawsuit was filed against Cristiano Ronaldo in a Florida district court, alleging that he actively participated in offering and selling unregistered securities in coordination with his partner, a well-known cryptocurrency exchange.
Additional details have now surfaced. The collective plaintiffs suing the footballer over endorsing the crypto exchange are demanding $1 billion from him. CNN reported this development.
According to sources, lawyer Gemma Flintwood stated that the footballer could settle the matter out of court by paying just $750,000.
Recall that the cryptocurrency exchange Ronaldo has been associated with since 2022 recently encountered legal issues. Its founder and CEO, Changpeng Zhao, admitted to non-compliance with anti-money laundering (AML) rules and the Bank Secrecy Act (BSA).
Now, the company is obligated to pay over $4 billion to American regulators.
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