Cristiano Ronaldo, one of football’s biggest stars, has inked a sponsorship deal with crypto exchange Binance, becoming the latest celebrity to strike a lucrative partnership with a digital asset firm despite the crisis gripping the sector.
The legendary Portuguese footballer, whose career has spanned Manchester United, Juventus and Real Madrid, will work with Binance to create a collection of non-fungible tokens (NFTs) that will be sold exclusively by the exchange.
Ronaldo’s crypto deal comes as the price of Bitcoin has fallen more than 70 per cent from its peak last autumn, wiping out five years of gains for investors. The sell-off has triggered a crisis for some of the digital asset industry’s largest traders and lenders, prompting warnings of a “Lehman moment” for the sector.