Binance is using Man United wantaway Cristiano Ronaldo to regulate its volatile blockchain offering.
This is the view of financial guru Kieran Maguire, specifically on football insider About the 37-year-old’s latest business partnership.
Binance Announce On Tuesday (November 15), they launched an NFT collection in collaboration with Ronaldo.
The news comes as Ronaldo, who is currently at the World Cup in Qatar with Portugal, comes amid a row with United over his attacks on the club’s behind-the-scenes workings.
sky sports It was reported on Saturday (November 19) that the Red Devils are now exploring ways to cancel the contract of the historical superstar.
Maguire explained how Ronaldo’s endorsement of Binance gave potential investors the wrong impression of the reliability of its “unregulated” product.
“The crypto industry urgently needs legality, regulation and endorsement,” He says football insider Adam Williams.
“It’s because of the belief, rightly or wrongly, that if a global superstar like Ronaldo is going to put his name on a product, then it has to have a certain level of confidence.
“But history has not proven that to be the case. Lots of people have lost a lot of money by plowing their cash into endorsed products.
“They use celebrities who aren’t normally known for their financial acumen to promote these products.”
“But that doesn’t change the fact that the industry remains unregulated, highly volatile and prone to manipulation.”
In other news, United are on a special scouting mission at Newcastle.