A $1 billiоn class-action lawsuit has been filed against soccer superstar Ronaldo, alleging his involvement in promoting and selling unregistered securities in coordination with Binance, the world’s largest cryptocurrency exchange. The lawsuit, filed in the District Court for the Southern District of Florida, claims that Ronaldo encouraged investors to purchаse unregistered securities, which were offered or sold by Binance.

Lead plaintiff Michael Sizemore, who allegedly bought unregistered securities from Binance, is representing consumers who made similar purchases. The lawsuit holds Ronaldo responsible for his role in promoting the sale of these unregistered securities.

Binance has recently faced legal troubles of its own. In June, the U.S. Securities and Exchange Commission sued the exchange for allegedly operating as an unregistered exchange. More recently, Binance agreed to pay $4.3 billiоn to settle charges brought by U.S. prosecutors relating to violations of sanctions and money-transmitting laws. Changpeng Zhao, the co-founder and former CEO of Binance, has also agreed to plead guilty to separate charges and stepped down from the company.

The lawsuit alleges that Ronaldo’s promotions were widely accessible through public websites, television, and social media accounts, including in Florida. It further suggests that Ronaldo received substantial compensation, including digital assets transmitted through the Binance platforms, for his services in promoting these securities.

Ronaldo had collaborated with Binance in the past to create a non-fungible token (NFT) collection featuring animated figures representing highlights from his career. He expressed his interest in providing unique experiences and access to his fans through the NFT platform.

This case is not the first instance of legal action resulting from the intersection of sports and cryptocurrency. In a separate lawsuit, investors sued athletes and celebrities who had promoted the now-collapsed FTX company. Recently, the plaintiffs expanded their legal action to include Major League Baseball, Formula 1 racing, and Mercedes-Benz Group AG’s racing team, alleging their involvement in aiding and abetting the fraud orchestrated by FTX.