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Cristiano Ronaldo faces $1B class-action lawsuit for promoting for Binance NFTs
Cristiano Ronaldo faces $1B class-action lawsuit for promoting for Binance NFTs
Portuguese soccer star Cristiano Ronaldo has been hit with class-action lawsuit seeking at least $1 billion in damages for his role in promoting cryptocurrency-related “non-fungible tokens,” or NFTs, issued by the beleaguered cryptocurrency exchange Binance. The lawsuit, filed in federal court in the Southern District of Florida Monday, accuses Ronaldo's promotions of Binance of being “deceptive and unlawful.” Binance's partnership with high-profile figures like Ronaldo, the plaintiffs claim, caused them to make costly and unsafe investments. “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 suit reads. Representatives for Ronaldo and Binance, the world's largest cryptocurrency exchange, did not immediately return The Associated Press' requests for comment. Ronaldo launched his inaugural NFT “CR7” collection with Binance back in November of last year, ahead of the 2022 World Cup. The NFTs, which had starting prices ranging from the equivalent of about $77 to $10,000, featured seven animated statues depicting Ronaldo from iconic moments in his life — from bicycle-kick goals to his childhood in Portugal. Monday's suit says that the promotional efforts of Ronaldo's Binance partnership were “incredibly successful” — alleging a 500% increase in online searches using the keyword “Binance” after the soccer star's NFTs was announced. The collection's premium-level NFTs sold out within the first week, the suit claims. Ronaldo has since continued to promote Binance on his official website and social media platforms. Most recently, on X (the platform formerly known as Twitter) Ronaldo reposted a Binance video and wrote that he was “Cooking something up" with the crypto exchange on Tuesday. NFTs are ordinary digital images with an attached version number that have been added to a cryptocurrency blockchain, a process designed to make them “unique” collectibles. NFTs enjoyed a brief boom, but have since largely collapsed along with much of the cryptocurrency industry. Over the summer, Binance was accused of operating as an unregistered securities exchange and violating a slew of U.S. securities laws in a lawsuit from regulators. And just last week, the crypto exchange agreed to pay a roughly $4 billion settlement as its founder Changpeng Zhao stepped down as CEO and pleaded guilty to a felony related to his failure to prevent money laundering on the platform. The cryptocurrency industry has been marred by scandals and market meltdowns, and this week's lawsuit doesn't mark the first time that a celebrity has faced litigation over crypto promotions. Last year, a host of Hollywood and sports stars — including Larry David and Tom Brady — were named as defendants in a class-action suit against FTX, which was the second-largest crypto exchange before it collapsed in November 2022. The suit argued that the celebrities' status made them culpable for promoting FTX’s failed business model. Ronaldo is one of the most recognizable and richest athletes in the world. He leads his home country Portugal’s national team and has played for the Spanish team Real Madrid, the Italian club Juventus and Manchester United in England. He now plays for the Saudi Arabian professional team Al Nassr. Read More US court denies woman's appeal of Cristiano Ronaldo's 2010 hush-money settlement in Vegas rape case Shakira to appear in Barcelona court on the first day of her tax fraud trial in Spain Putin’s troops repelled on six fronts amid heavy missile and ground attacks - live
2023-12-01 17:58
‘The Nun II’ conjures $32.6 million to top box office
‘The Nun II’ conjures $32.6 million to top box office
Like many horrors before it, bad reviews didn’t scare off moviegoers from buying tickets for “The Nun II.”
2023-09-10 23:49
A 6-year-old girl died after being struck by a boat propeller in Arizona
A 6-year-old girl died after being struck by a boat propeller in Arizona
A 6-year-old girl who was accidentally struck by a boat propeller on Lake Pleasant in Arizona Friday morning, has died, according to officials.
2023-07-29 23:28
Ukraine Recap: Lukashenko Jokes About Wagner Going Into Poland
Ukraine Recap: Lukashenko Jokes About Wagner Going Into Poland
Russian President Vladimir Putin met in St. Petersburg with his Belarusian counterpart Alexander Lukashenko. In comments broadcast on
2023-07-23 19:16
MrBeast announces challenge video with $10K daily prize for staying in a store, Internet calls it 'light work'
MrBeast announces challenge video with $10K daily prize for staying in a store, Internet calls it 'light work'
MrBeast hyped up his upcoming video as he explained that anyone staying at his grocery store would earn $10K daily
2023-12-02 17:28
'So it's not about fairness': Internet abuzz after open category for trans swimmers at World Cup is scrapped because of 'zero' entries
'So it's not about fairness': Internet abuzz after open category for trans swimmers at World Cup is scrapped because of 'zero' entries
The event, initially hailed as a progressive step towards inclusion, was scheduled to take place as part of the Berlin Swimming World Cup
2023-10-05 20:49
Who's behind the attack on a Russian region on the border with Ukraine?
Who's behind the attack on a Russian region on the border with Ukraine?
Russia alleges that dozens of Ukrainian militants crossed into one of its border towns in its Belgorod region, striking targets and forcing an evacuation, before over 70 of the attackers were killed or pushed back by what the authorities termed a counterterrorism operation. Ukraine denied any involvement in the skirmishes Monday and Tuesday, instead blaming two Russian groups that claim to be volunteers fighting alongside Kyiv's forces in an uprising against the government of President Vladimir Putin. While neither version could be independently verified, whatever happened appears to have sent Moscow scrambling to respond to one of the most serious border incursions since Putin launched the invasion of Ukraine in February 2022. Belgorod Gov. Vyacheslav Gladkov said an elderly woman died in the chaotic evacuation, and 12 people were wounded in the attack and shelling. As fighting there apparently continued Tuesday morning, he urged residents not to return to their homes, and only in late afternoon declared the operation was over. A look at what's known about the attack and the murky groups who say they carried it out: WHO'S CLAIMING RESPONSIBILITY? Two groups — the Freedom of Russia Legion and Russian Volunteer Corps – claimed responsibility for the attack and announced an ambitious goal of “liberating” the Belgorod region. Little is known about them beyond what they say about themselves, and it's not clear how they are. The website of the Freedom of Russia Legion says it was formed last spring “out of Russians’ desire to fight against Putin’s armed gang” and is “officially recognized” by Kyiv’s military. “We are fighting in full cooperation with the Armed Forces of Ukraine and under the leadership of the Ukrainian command,” the website says. The website said it fought last summer in “small battle groups,” and now was involved in the battle for the eastern city of Bakhmut. The Russian Volunteer Corps’ page in the messaging app Telegram used to say it was a formation within the Armed Forces of Ukraine. It now describes itself as merely fighting on the Ukrainian side. In August 2022, an announcement posted there said: “We, Russian volunteers living in Ukraine, decided to take up arms and create a military formation, the Russian Volunteer Corps, in order to together with our Ukrainian comrades defend their homeland which gave us shelter, and then continue the fight against the criminal Putin regime and his henchmen.” Other posts claimed the group was fighting in southeastern Ukraine, or as volunteers serving elsewhere in the country, including in Kyiv's suburbs of Bucha and Irpin. In March, the Russian Volunteer Corps claimed responsibility for an incursion in Russia's Bryansk region, another border area. Media reports at the time identified some of its members as Russian nationalists. In a post Tuesday, the Russian Volunteer Corps described its political views as “right-wing conservative and traditionalist." WHAT DOES UKRAINE SAY? Ukrainian officials have never confirmed any ties with either group. The government in Kyiv denied involvement in this week's Belgorod incident, calling it an act by disgruntled Russians. When they did talk about it, officials were vague. Deputy Defense Minister Hanna Maliar said “patriots of Russia” and “people who actually rebelled against Putin’s regime” were behind the attack. Presidential adviser Mykhailo Podolyak blamed “underground guerrilla groups” that are “composed of Russian citizens.” In remarks to the news outlet Suspilne, Ukraine intelligence official Andrii Yusov said it was the Russian Volunteer Corps and the Freedom of Russia Legion. Andrii Cherniak, another intelligence representative pointed to the fact that the two groups claimed responsibility. "This is the consequence of aggressive politics of Putin’s regime and Russia’s invasion of Ukraine,” he told The Associated Press. WHAT DOES RUSSIA SAY? Russia calls it an incursion by saboteurs deployed by Kyiv, with officials and state media using various epithets ranging from “militants” to “terrorists.” Kremlin spokesman Dmitry Peskov said the Belgorod attack was a diversion, meant “to draw attention away” from Russia's victory in the eastern Ukrainian city of Bakhmut, which Moscow claimed to have captured over the weekend after months of bloody fighting. Asked Tuesday about claims that the invaders were ethnic Russians, Peskov insisted that “these are Ukrainian militants from Ukraine.” “There are lots of ethnic Russians in Ukraine, but these are still Ukrainian militants,” Peskov said. Defense Ministry spokesman Igor Konashenkov said more than 70 “Ukrainian terrorists” were killed in Russia’s operation. He also referred to the attackers as “nationalists.” Russian state TV reported the invaders were from Ukraine's armed forces. One report alleged the attackers used U.S. military equipment despite Washington’s assurances its weapons won't be used for attacks on Russia. WHAT'S THE TRUTH? It's hard to know. Analysts and commentators say both Russia and Ukraine would likely benefit from its own version of the events. The British Defense Ministry tweeted Tuesday that “Russia will almost certainly use these incidents to support the official narrative that it is the victim in the war.” Russian state media coverage appears to support this notion, with its allegations that U.S. weapons were used in the attack and the general tone of some reports that overlaid video from the region with tense, dramatic music. For Kyiv, it's beneficial “to take up the position of an observer and not admit its involvement,” said Ukrainian military analyst Oleh Zhdanov. “The fact is that the war is happening on Russian territory, the Kremlin is being clearly indicated that Russians are not the only ones who can employ hybrid (warfare) methods,” Zhdanov told AP. The involvement of the Russian Volunteer Corps and the Freedom of Russia Legion should serve as signs that “there are forces inside Russia who can resist Putin’s regime,” he said. At the same time, the Belgorod attack “showed Russia’s helplessness," Zhdanov said. “Russia turned out to be completely unprepared -– neither its security forces, nor border guards, nor special services were prepared for hostilities on their own turf. The myth that Russia keeps its border locked has been busted,” he added. Some Russian voices echoed that sentiment. Yevgeny Prigozhin, head of the Wagner private military contractor, used the incident as yet another chance to bash the Russian Defense Ministry for not adequately protecting the border. Alexander Kots, military correspondent with the pro-Kremlin newspaper Komsomolskaya Pravda, also raised questions on his Telegram page. “What’s with our technical equipment of the border, surveillance systems, motion detection systems?" he asked. "What’s with mining of the potentially dangerous areas? What’s with anti-tank equipment? Why did an enemy armored group breach deep into our territory?” These are the questions “to which there are no answers,” Kots said. “To be more accurate, there are, but they’re very unpleasant.” ___ Karmanau reported from Tallinn and Arhirova reported from Kyiv, Ukraine. ___ Follow AP's coverage of the war in Ukraine at https://apnews.com/hub/russia-ukraine Read More The Body in the Woods | An Independent TV Original Documentary The harrowing discovery at centre of The Independent’s new documentary Russian sailors offered limited option to qualify for Paris Olympics Who is behind Belgorod incursion on Russian region bordering Ukraine? Ready for a digital euro? At 25, European Central Bank preps for future of money
2023-05-24 19:17
Election tribunal rejects Peter Obi's presidential election challenge in Nigeria
Election tribunal rejects Peter Obi's presidential election challenge in Nigeria
One of President Bola Tinubu's opponents failed to prove allegations of rigging, the court rules.
2023-09-07 01:00
Arizona abortion rights groups launch bid to put issue on 2024 ballot
Arizona abortion rights groups launch bid to put issue on 2024 ballot
By Joseph Ax Abortion rights advocates in Arizona on Tuesday launched a campaign to add abortion protections to
2023-08-08 23:50
Jill Biden tells National Student Poets that poetry feeds a hungry human spirit
Jill Biden tells National Student Poets that poetry feeds a hungry human spirit
Jill Biden has paid tribute to the power of poetry while honoring the 2023 class of National Student Poets
2023-11-14 06:20
Family of Navy officer in Japanese prison hopes for resolution to case
Family of Navy officer in Japanese prison hopes for resolution to case
The family and friends of a US Navy officer jailed in Japan hope that President Joe Biden's trip to the nation for the G7 summit will yield progress in his case, particularly after he penned a handwritten letter to his wife expressing despair about his situation.
2023-05-19 04:49
Where did Billy Ray Cyrus marry Firerose? Singer, 62, ties the knot for the third time in 'most perfect, ethereal celebration of love'
Where did Billy Ray Cyrus marry Firerose? Singer, 62, ties the knot for the third time in 'most perfect, ethereal celebration of love'
Billy Ray Cyrus said he met his now-wife 12 years ago in Los Angeles on the set of Disney Channel series 'Hannah Montana', a show he 'loved doing'
2023-10-12 05:57