Football star Cristiano Ronaldo is confronting a class-action lawsuit in the United States related to his promotion of Binance, the world's largest cryptocurrency exchange. Plaintiffs in the case allege that Ronaldo's endorsement of Binance led them to make investment decisions resulting in substantial losses. The lawsuit seeks damages exceeding $1 billion (£790 million). The lawsuit revolves around Ronaldo's association with Binance, which was announced in November 2022. The collaboration involved the launch of the "CR7" collection of non-fungible tokens (NFTs), marking Ronaldo's initials and shirt number. NFTs are digital assets traded on blockchain platforms. The claimants argue that Ronaldo's promotion of Binance caused a "500% increase in searches" for the cryptocurrency exchange, leading individuals to invest in what they deem "unregistered securities," including Binance's BNB cryptocurrency. The complaint suggests that Ronaldo should have disclosed the compensation he received for the promotion, as required by US securities laws. The Securities and Exchange Commission (SEC) classifies certain assets, including cryptocurrencies, as securities. Celebrities endorsing such assets are expected to comply with relevant disclosure regulations. SEC Chair Gary Gensler has emphasized the importance of celebrities disclosing compensation details when endorsing investment opportunities. The claimants contend that Ronaldo's endorsement influenced individuals to use Binance for investing in assets that should be treated as securities under US law. The lawsuit not only targets Ronaldo but also raises broader questions about the responsibilities of celebrities in promoting financial products and the need for clearer regulatory guidelines in the evolving financial landscape.