Binance CZ has already resigned from his position as CEO to avoid any loss of Binance exchange. Currently the Binance exchange is facing a bit more difficulty. Binance faces danger once again as danger signals continue. Is it right to take such action against Ronaldo? I think it is not right to take such action against Ronaldo. But since the problem is starting to escalate, it is expected to be resolved very soon.
Binance Exchange will not suffer any loss. They will not suffer any loss and will pay all fines if necessary.
I think the case will now be decided by the court. The case has been filed in a United States district court in Florida and the parties bringing the legal action are consumers who claimed to have bought unregistered securities in the Binance platform but they are represented by Michael Sizemore, Mikey Vongdara and Gordon Lewis.
Binance Exchange will not suffer any loss. They will not suffer any loss and will pay all fines if necessary.
The suit is not against Binance but specifically against Cristiano Ronaldo, just like Kim Kardashian paid $1.2 million it is the Portuguese that will pay the plaintiff if found guilty. Paying fines is a big loss to any firm and it could lead to bankruptcy. Binance is already bleeding from the $4.3 billion fine, more sanctions can collapse the exchange.
As to Ronaldo, well, I guess he has to face this problem. Just imagine, if this lawsuit against him will convict him, that would destroy his finances as $1B is more than his reported net worth.
Even if Ronaldo is found guilty, his legal team can always argue down the fine in court. The judge could reduce the fine and Ronaldo also has the option of appealing the court judgement. It seems Ronaldo and Binance are still promoting the exchange he is still promoting Binance on social media
X precisely. Three days ago Binance posted on its
X account a video of Ronaldo with the message:
"Cooking something up with @Cristiano, Stay tuned".