Now Red 🚨 for Exchange Influencers

[Gladitorcomeback]

As we know that crypto exchanges security issue is increased in these months. Binance and kraken already sued by SEC. Now it's time for influencers. All big influencers promoting Binance and other exchanges are now in real danger.


If anyone don't know ,I want to tell you that Recently legal action has been taken against famous football star Cristiano Ronaldo for his partnership with Binance. This news signalling challenge for crypto exchanges hiring influencers to boost their visibility. This news indicate that regulatory are not only focus on exchanges themselves but also all individual influencers are now getting red signal. Authority now looking to tight grab on influencers. Source

What do you think this news will have any bad impact on Binance?

Will next target will be Messi influencers of Bitget exchange?

 
As topic said , Crypto influencers are also not save and they will face security issues.

[Potato Chips]

Honestly, influencers should definitely be careful of what they're tryin' to promote but there is something fishy about Ronaldo's case.

Sounds like plaintiffs saw an opportunity to sue the man to cover for their crypto losses lol. They're also seeking 1 billion USD in damages huh? is a bit too much imo.

[jossiel]

As we know that crypto exchanges security issue is increased in these months. Binance and kraken already sued by SEC. Now it's time for influencers. All big influencers promoting Binance and other exchanges are now in real danger.


If anyone don't know ,I want to tell you that Recently legal action has been taken against famous football star Cristiano Ronaldo for his partnership with Binance. This news signalling challenge for crypto exchanges hiring influencers to boost their visibility. This news indicate that regulatory are not only focus on exchanges themselves but also all individual influencers are now getting red signal. Authority now looking to tight grab on influencers. Source

What do you think this news will have any bad impact on Binance?

Will next target will be Messi influencers of Bitget exchange?

 
As topic said , Crypto influencers are also not save and they will face security issues.

I think for SEC or any regulating body, they should make a standard and lists of guidelines for these exchanges to avoid getting sued. It's important for them to make guidelines and definitely the registration that they need to comply for them to make sure that they're complying.

And on the side of influencers, whether they are celebrities, athletes or just common social media influencers. They need to check always the rules of what's right or wrong on their end because it's not only about the partnership that they're signing.

But also the effect that will happen to them afterwards because the company that they signed might not be able to protect them if they're also sued.

Remember the centra debacle, it's a scam and the influencers of got sued. But on this case, it's different but the main company that they've advertised got sued too.

[Darker45]

To be quite frank, I can only sympathize so much with the victims. Consumers have rights, but they, too, have responsibilities. Surely, a responsible investor or trader doesn't just buy a Binance-tied NFT or use Binance for trades, respectively, simply because somebody else who is good in football promotes it. Would you be depositing money on FTX simply on the ground that it is being promoted by a man who play good basketball and a woman who's got nice curves? I find that absurd.

Although celebrities and athletes should also exert effort in doing background checks of whatever they're promoting, I partly blame the consumers for being drawn toward products merely because they're promoted by popular personalities.

[Husires]

Instead of countries and regulators ensuring that what happened with FTX does not happen again, they are doing everything necessary to destroy this industry. I can understand that cryptocurrencies are treated with caution, or that investors are warned or told that their investments are at risk, but legal action is taken against a player. Football because he promotes a brand and this player is not in Europe or America is a very strange thing. Apparently, the authorities have found a lot of evidence condemning BINANCE and are trying to remove it from more markets or access to liquidity.

[logfiles]

They should focus on suing past promoters of the now collapsed services like FTX.
I think what is being done here is to make Binance as unpopular as possible and lead to a decline in its revenue. Will Binance stand the test of time? Time will tell.

What baffles me is that proves scams like 1xbet,1xbit, melbet etc are being advertised on mainstream platforms including stadium billboards and through celebrities, but the so-called protectors of investors don't even bat an eye.

[Husires]

They should focus on suing past promoters of the now collapsed services like FTX.
I think what is being done here is to make Binance as unpopular as possible and lead to a decline in its revenue. Will Binance stand the test of time? Time will tell.

What baffles me is that proves scams like 1xbet,1xbit, melbet etc are being advertised on mainstream platforms including stadium billboards and through celebrities, but the so-called protectors of investors don't even bat an eye.

Binance will survive, but it will not be number 1. Binance was burning millions of dollars in promoting and signing contracts with countries and companies. It even once tried to buy everything possible in the market from currency tracking applications, stable coins, pumping BNB and doing everything that would make them grow quickly.

What baffles me is that proves scams like 1xbet,1xbit, melbet etc are being advertised on mainstream platforms including stadium billboards and through celebrities, but the so-called protectors of investors don't even bat an eye.

I have seen 1xbit ads at many sporting events and I did not think it was a scam.

[Antotena]

As we know that crypto exchanges security issue is increased in these months. Binance and kraken already sued by SEC. Now it's time for influencers. All big influencers promoting Binance and other exchanges are now in real danger.

Danger depend on the aspect they promoted. Ronaldo was sue by SEC because of NFTS endorsement deals and public configuration to buy in other to get access to some of his features and I'm not sure if in that aspect people loss money because it's like a form of investment endorsement. However, if people don't lose money in the course of influencing, why sue in the first place.

What we need to understand that some influencers promoted some certain aspect of the exchange like trading and get bonus, I don't think that's punishable by law because trading is trading unless they didn't asked for KYC which is the exchange problem worries.

What do you think this news will have any bad impact on Binance?

Will next target will be Messi influencers of Bitget exchange?
 
As topic said , Crypto influencers are also not save and they will face security issues.

It does depend on what you were influencing. As an influencer, if promote an an advertisement or endorsed a product and during the process people money or in the end, then the exchange will be question and investigated and if they are guilty, even the influencers will be affected as we because as a brand influencer, it's your responsibility to protect your fans and people and not run after the money.

[tabas]

It's not a challenge for crypto exchanges to hire influencers just because of what happened to Cristiano Ronaldo. The matter there is about CR advertised his NFT and that's another form of investment which became a red flag for the SEC and they need to make everyone wary that they shouldn't be into it without having forms of permits and licenses. But there's a bigger challenge that SEC and regulators that needs to face, we're coming on a bull run and there will be lots of scams that will exist and formed by this season. And that's what they need to figure out in cleansing and pursuing those developers instead. Because CR and Binance, they'd easily settle all these matters if they have no ill intention to the community.

[Alpha Marine]

Honestly, influencers should definitely be careful of what they're tryin' to promote but there is something fishy about Ronaldo's case.

Ronaldo is big enough to cover all his bases in things like this. His legal team should know to avoid companies that are facing so much hit. After what happened to Tim Brady and other Hollywood stars after the FTX saga, they should have learned to be careful.
Aside from the $ 1 billion lawsuit that would be reduced if he's found guilty, I think they just want to make an example of him and a warning to other celebrities.

Sounds like plaintiffs saw an opportunity to sue the man to cover for their crypto losses lol. They're also seeking 1 billion USD in damages huh? is a bit too much imo.

Ronaldo is not being sued because he advertised Binance, the lawsuit is for advertising unregistered NFTs. If that is true then he has himself to blame. He should know better than to advertise unregistered securities.
I guess he should also have a clause in his contract where Binance is to pay the damages if he's sued for advertising them or their product. Just saying.