Binance Users Innovate Solutions To Serve Ronaldo In Lawsuit

Jan 19, 2024

By: Nisha Kumari

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Binance Users are exploring alternate avenues like social media platforms and drone delivery.

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Unconventional approach

Binance users faced financial losses as Ronaldo promoted the exchange on social media. The November 2023 filing alleges non-disclosure of payments, violating SEC guidance.

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Allegation?

Legal documents & case details are sent to Ronaldo's authenticated Twitter account and the email addresses of his legal representatives.

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The motion proposes?

Binance's mid-2022 partnership with Ronaldo included launching & selling multiple NFT collections, with at least three directly linked to Binance.

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Product integration & marketing

Binance has been accused by the US Justice System of aiding users in circumventing global sanctions and facilitating the movement of money for criminals and terrorists.

Allegation against Binance?

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Following the lawsuit, Changpeng Zhao, CEO, Binance resigned having admitted to money-laundering violations.

Image credit: The New York Times

CEO's resignation

Major League Baseball, Formula 1, and Mercedes-Benz have faced lawsuits on the same day for their promotion of the defunct cryptocurrency exchange FTX.

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