Cristiano Ronaldo has received some bad news; according to Newsweek, the Portuguese striker suffered a legal blow after a judge presiding over a $1 billion class action lawsuit against him denied his motion to dismiss the case. CR7 is being sued for promoting the largest cryptocurrency exchange in the world, Binance. The plaintiffs of this case are claiming that Ronaldo’s endorsement has led to them making “costly and unsafe investments” and seeking damages of “a sum exceeding” $1 billion. Judge Roy Altman “ruled to stay proceedings pending a ruling on a motion to compel arbitration.” Judge Altman wrote on May 4th, “We deny without prejudice the Defendant’s [Ronaldo] 29 motion to dismiss.”

Binance announced its first “CR7” collection of NFT [Non-Fungible tokens] in November 2022, which are virtual assets that can be bought and sold. NFTs only exist digitally and are often used to mark ownership of digital items like pictures or online videos. The cheapest NFT from the collection was priced at $77 when it was on sale in November 2022, but a year later, the price dropped to $1, according to BBC News.

Ronaldo’s latest promotion for Binance was in March when he was in a video with a professional female footballer, Ana Maria Markovic. CR7 offered a link for fans to click to look for the answers to some questions in regard to the promotion. His post read, ” Had a lot of fun with Binance. Watch me compete against @anamxrkovic7 in a game of foosball – don’t miss out as we answer some interesting questions!” Binance is still on Ronaldo’s bio on Instagram, where it reads, “Join my NFT journey on @Binance. Click the link below to get started.”

CR7’s next game for Al Nassr

Cristiano Ronaldo and Al Nassr will travel away from home to play against Al Akhdoud at the Prince Hathloul Bin Abdul Aziz Sport City stadium in the Saudi Pro League. After that match, Al Nassr will take on Al Hilal, where their rival could already be crowned Saudi Pro League champions as they only need one more point to clinch the league title.