• Loading stock data...
Tuesday, July 8, 2025

Ronaldo Sued For $1B In Latest Fallout From Athlete Crypto Deals

  • Soccer superstar latest to be hit in legal fallout from crypto decline.
  • Class-action lawsuit alleges ‘deceptive and unlawful’ conduct.
Yukihito Taguchi-USA TODAY Sports

Legal ramifications from cryptocurrency endorsements has hit another A-list athlete. Soccer superstar Cristiano Ronaldo is facing a $1 billion class-action lawsuit stemming from his involvement with embattled exchange Binance.

The federal suit filed in the Southern District of Florida alleges that Ronaldo’s promotion was “deceptive and unlawful,” and that his association with Binance led plaintiffs into unsafe investments.

“Evidence now reveals that Binance’s fraud was only able to reach such heights through the offer and sale of unregistered securities, with the willing help and assistance of some of the wealthiest, powerful, and recognized organizations and celebrities across the globe — just like Defendant Ronaldo,” the suit reads in part.

Binance is already facing $4.3 billion in federal penalties after CEO Changpeng Zhao pleaded guilty to money-laundering violations and resigned from the company.

The lawsuit arrives as a collection of Ronaldo non-fungible tokens has lost much of its original value, as have many other crypto-related assets. Still, Ronaldo remains one of the world’s most recognizable and highly paid athletes, bringing in $200 million per year from Saudi Arabian team Al Nassr.

Neither Ronaldo nor Binance has commented on the lawsuit.

More Fallout

The lawsuit is merely the latest in a series stemming from athlete support of crypto assets. Among those who have been entangled in similar disputes: Tom Brady, Shaquille O’Neal, Trevor Lawrence, and Stephen Curry.

The recent conviction of FTX founder and former CEO Sam Bankman-Fried has especially raised the pressure on those involved in that company, including Brady and O’Neal, and likely strengthens the plaintiff’s case in a separate class-action lawsuit. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

A helmt is seen during the Texas Tech football team's spring game, Saturday, April 19, 2025, at Jones AT&T Stadium.

CFB’s Revenue-Sharing Era Muddles Future of NIL, Adds PE Questions

Athletic departments can pay college athletes a combined $20.5 million this year.
exclusive

CBS, NFL Host James Brown Discussing Contract Extension

The 74-year-old Brown has hosted a record 10 Super Bowl pregame shows.
Jul 3, 2022; London, United Kingdom; Jannik Sinner (ITA) returns a shot during his match against Carlos Alcaraz (ESP) on day seven at All England Lawn Tennis and Croquet Club.

Wimbledon’s Expansion Battle Looms Over Star-Studded Quarterfinals

The expansion’s loudest opposition is Save Wimbledon Park.
Nov 16, 2024; New York, NY, USA; President-elect Donald Trump speaks with Dana White (left) during UFC 309 at Madison Square Garden.

UFC Confirms Talks to Bring Fight to White House Grounds

Discussions are underway to bring a UFC event to the White House grounds.

Featured Today

American Celebs Want to Be Sports Owners. Soccer Is Where They Start

As U.S. team prices climb, investors set their sights abroad.
July 5, 2025

Baseball’s Celebrity Row: Behind MLB’s First-Pitch Ritual

Often planned, sometimes spontaneous, the ritual throw is baseball’s celebrity row.
July 4, 2025

3,000 Hot Dogs, $20K in Prizes: Behind the Nathan’s Eating Contest

Nathan’s serves up thousands of hot dogs and $20,000 in prize money.
July 3, 2025

Geoffrey Esper Can’t Catch a Break at Nathan’s Hot Dog Eating Contest

“Hot dogs is not one of my favorite competitions of the year.”

How Bradley Beal Buyout Would Save Suns $230M, and What’s Next

Beal has two years and $110 million remaining on his deal.
July 6, 2025

WNBA All-Stars Will Earn $2,575 for Playing in Game

The WNBPA is in the midst of negotiations for a new CBA.
July 7, 2025

An FSU Amateur Golfer Beat the World’s Best—but Can’t Accept $79K Prize

Top-ranked amateur Lottie Woad won the KPMG Women’s Irish Open.
Sponsored

Hottest Matchups Following NFL Schedule Release

The NFL released the 2025 regular-season schedule, and anticipation is already building in the ticket marketplace with four months to go.
July 6, 2025

Unrivaled Co-Founders Deny Conflict of Interest With WNBPA Leadership

The WNBA and its union are negotiating a new CBA.
exclusive
July 2, 2025

WNBA Players Reject League’s First CBA Offer

Players felt the initial proposal wasn’t “entirely responsive” to their request.
Nike banners featuring Caitlin Clark are installed along the eastern side of Des Moines' Court Avenue Restaurant and Brewing Company on Thursday, Feb. 20, 2025.
July 2, 2025

Caitlin Clark’s Signature Shoe Could Be $100 Million Business: Sneaker Expert

Clark’s shoe could rival top NBA signature lines.
July 2, 2025

As NBA Free Agency Quiets, Focus Shifts to Potential Extensions

Shai Gilgeous-Alexander signed a four-year, $285 million extension.