Ronaldo is facing a lawsuit that could completely ruin him

The lawsuit, filed in the US District Court in Florida, alleges that Binance, with Ronaldo’s help, “solicited investments in unregistered securities,” causing the plaintiffs to suffer large losses.

In addition, the lawsuit documents state that Ronaldo knew or should have known “about Binance’s unregistered sale of cryptocurrencies” because he has “investment experience and extensive resources to engage third-party advisors.”

On this basis, the plaintiffs seek full damages and costs. Damages are demanded – the amount exceeds 1 billion US dollars.

Binance CEO Changpeng Zhao pleaded guilty to anti-money laundering violations on Tuesday, and the company he founded will have to pay more than $4 billion in fines.

“Binance became the world’s largest cryptocurrency exchange in part because of its crimes. The company will now pay one of the largest corporate fines in US history,” said Attorney General Merrick Garland.

Zhao pleaded guilty to failing to maintain an effective anti-money laundering program and resigned as head of the company, according to the US Department of Justice.

Ronaldo, who has more than 613 million followers on Instagram, has a profile description inviting him to join Binance’s NFT, or non-fungible blockchain token, which the footballer says will reward fans “for all the years of support”.