Cristiano Ronaldo Faces $1B Lawsuit over Binance Ads

Soccer star Cristiano Ronaldo is entangled in a class-action lawsuit in the United States amounting to over $1 billion, involving his association with Binance. Plaintiffs have asserted that Ronaldo endorsed the
crypto exchange, leading them to incur financial losses.

According to a report by BBC, the lawsuit states that Ronaldo’s promotional activities influenced individuals to engage in
investments that eventually turned out to be unprofitable. The plaintiffs in
this matter are seeking compensation surpassing $1 billion.

Ronaldo’s collaboration with Binance gained attention
in November 2022 when the exchange unveiled its inaugural “CR7”
collection of non-fungible
Fungible

Fungibility is a term that describes how interchangeable a certain asset is with other assets of the same kind.If an asset is fungible, one unit of that asset is interchangeable with another unit of that asset. Of note, fungibility differs from liquidity. A good is said to be liquid if it can be easily exchanged for money or another good. However, a good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time and place

Fungibility is a term that describes how interchangeable a certain asset is with other assets of the same kind.If an asset is fungible, one unit of that asset is interchangeable with another unit of that asset. Of note, fungibility differs from liquidity. A good is said to be liquid if it can be easily exchanged for money or another good. However, a good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time and place
Read this Term tokens (NFTs). This partnership aimed to reward Ronaldo’s fans for their unwavering support, using NFTs, which are digital assets representing ownership of online content.