Football star Cristiano Ronaldo is currently entangled in a class action lawsuit in the United States over his association with Binance, the world's largest cryptocurrency exchange. The plaintiffs argue that Ronaldo's endorsement prompted them to make investments that resulted in financial losses. The lawsuit is seeking damages exceeding $1 billion (£790 million). When contacted, both Ronaldo's management company and Binance have yet to provide comments on the matter.

Binance had previously unveiled its inaugural "CR7" collection of non-fungible tokens (NFTs) in collaboration with Ronaldo in November 2022. NFTs are digital assets that lack a tangible presence and are typically used to signify ownership of online content such as images or videos. Ronaldo, known for his "CR7" branding, which incorporates his initials and shirt number, has employed this iconic logo in various products, ranging from footwear to fragrances, contributing to his status as one of the wealthiest athletes globally.

In a social media announcement introducing the partnership, Ronaldo encouraged potential investors, stating, "we are going to change the NFT game and take football to the next level." The lawsuit alleges that this endorsement misled investors and resulted in financial losses for those who followed Ronaldo's promotion of Binance.