A $1 billion lawsuit against Cristiano Ronaldo for endorsing Binance NFTs

A class-action lawsuit claims that a football player was "deceptive and unlawful" in his marketing of the biggest cryptocurrency exchange in the world.

A class-action complaint targeting at least $1 billion in damages has been filed against Cristiano Ronaldo for his part in promoting cryptocurrency-related “non-fungible tokens,”

or NFTs, that were released by the troubled cryptocurrency exchange Binance.

According to the lawsuit, which was submitted on Monday to a federal court in the Southern District of Florida,

the football player promoted Binance in a way that was "deceptive and unlawful."

The plaintiffs contend that Binance's affiliation with well-known individuals like Ronaldo misled them into making risky and expensive investments.

The lawsuit claims that "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 Portuguese player, who is currently playing for Al-Nassr in Saudi Arabia, was not available for comment on Thursday.

The largest cryptocurrency exchange in the world, Binance, did not immediately respond to Associated Press inquiries for comment.

Changpeng Zhao steps down as Binance's chairman.American board of directors