Cristiano Ronaldo signs deal with controversial cryptocurrency firm
Cristiano Ronaldo Portuguese footballer has signed a sponsorship deal with a controversial cryptocurrency exchange.
The Manchester United and Portugal superstar Cristiano Ronaldo said he was ‘proud’ to be partnering with Binance, a cryptocurrency firm which has been branded a ‘significant risk’ to consumers by the City watchdog.
The announcement comes amid warnings of a ‘crypto winter’ as panic rips through the industry.
The world’s largest cryptocurrency Bitcoin, has tumbled more than 70 per cent from its peak last autumn.
Fears are growing that the so-called digital currency could become completely worthless as the cost of electronically producing or ‘mining’ a bitcoin through complex computer algorithms becomes more expensive than the end result.
The Superstar Cristiano Ronaldo, 37, will work with cryptocurrency firm Binance to create a collection of non-fungible tokens (NFTs).
These ‘represent’ an asset, such as digital or real-world art, music or information, and can be traded online. Some sell for millions.
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