Cristiano Ronaldo, the famous football player, is in trouble because of a lawsuit in the United States. The lawsuit is about his support for Binance, which is a big cryptocurrency exchange. The people suing say that Ronaldo’s promotion of Binance made them invest money and then lose it. They want over $1 billion in damages. The BBC has asked Ronaldo’s management company and Binance for comments.
In November 2022, Binance said that they were working with Ronaldo on a collection of digital things called NFTs. NFTs are virtual things that you can buy and sell, but they don’t exist in the real world. They’re used to show that you own something online, like a picture or a video. Ronaldo’s initials and shirt number, “CR7,” are used in lots of products, which is why he’s so rich. Ronaldo said he was excited about the partnership and thought it would change NFTs and make football even better.
The people suing say that Ronaldo’s support for Binance made lots of people search for it. They also say that people were told to invest in things that the government didn’t approve of. The US Securities and Exchange Commission says that these things can be seen as investments, and famous people have to follow the law when they talk about them. The people suing say that Ronaldo should have said how much money he got for supporting Binance, but he didn’t.
Nigel Green, who runs a company called DeVere Group, thinks that this problem is bigger than just Ronaldo. He says that we need better rules from governments all around the world for cryptocurrencies. Even though Ronaldo is being sued, he and Binance still want to work together in the future. The BBC asked both Ronaldo and Binance for comments, but they haven’t said anything yet.
It’s important to know that the lawsuit against Binance happened after the US Justice Department told them to pay a lot of money in fines. The government said that Binance helped people break the rules and hide money. The CEO of Binance, Changpeng Zhao, quit his job after admitting to breaking the money rules. Other companies like Major League Baseball, Formula 1, and Mercedes-Benz are also being sued for supporting a different cryptocurrency exchange called FTX.
So, Cristiano Ronaldo is in trouble because of his support for Binance. The people suing say that they lost money because of him and want over $1 billion in damages. This lawsuit shows that we need better rules for cryptocurrencies. Even though Ronaldo is being sued, he and Binance still want to work together.
Original news source: Cristiano Ronaldo faces $1bn lawsuit over Binance ads (BBC)
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Group or Classroom Activities
Warm-up Activities:
– News Summary
Instructions:
1. Divide the class into small groups.
2. Give each group a copy of the article.
3. Instruct the groups to read the article and create a short summary of the main points.
4. After a designated time, have each group share their summaries with the class.
5. Discuss any differences or similarities in the summaries and clarify any misunderstandings.
– Opinion Poll
Instructions:
1. Write the following question on the board: “Do you think celebrities should be held responsible for promoting cryptocurrencies without providing full disclosure?”
2. Have the students individually answer the question by raising their hands or writing their responses on a piece of paper.
3. Split the class into two groups: “Agree” and “Disagree”.
4. Instruct each group to discuss their reasons for agreeing or disagreeing with the statement.
5. After a designated time, have representatives from each group present their arguments to the class.
6. Encourage a respectful debate and allow time for questions and counterarguments.
– Vocabulary Pictionary
Instructions:
1. Write a list of vocabulary words from the article on the board.
2. Divide the class into pairs.
3. Give each pair a set of index cards or small pieces of paper.
4. Instruct one student from each pair to choose a vocabulary word without showing their partner.
5. The chosen student must then draw a visual representation of the word on the index card or paper.
6. The other student must guess the word based on the drawing.
7. After a designated time, have the pairs switch roles.
8. Provide an opportunity for pairs to share their drawings and words with the class.
– Headline Creation
Instructions:
1. Divide the class into small groups.
2. Instruct each group to create a catchy headline for the article.
3. Encourage them to think of attention-grabbing words and phrases.
4. After a designated time, have each group share their headline with the class.
5. Discuss the different headlines and the impact they would have on readers.
6. Analyze the effectiveness of each headline in conveying the main points of the article.
– Pros and Cons
Instructions:
1. Divide the class into two groups: “Pros” and “Cons”.
2. Instruct each group to brainstorm the advantages and disadvantages of celebrities promoting cryptocurrencies without providing full disclosure.
3. Encourage students to think critically and come up with specific examples.
4. After a designated time, have representatives from each group present their arguments to the class.
5. Facilitate a discussion on the different perspectives and allow for rebuttals and counterarguments.
Comprehension Questions:
1. What is the lawsuit against Cristiano Ronaldo about?
2. What are NFTs and how are they used?
3. Why do the people suing Ronaldo believe they lost money?
4. According to Nigel Green, what needs to happen regarding cryptocurrencies?
5. What happened to the CEO of Binance after the US Justice Department’s investigation?
6. Which other companies are also being sued for supporting a different cryptocurrency exchange?
7. How much money do the people suing Ronaldo want in damages?
8. Despite the lawsuit, what do Ronaldo and Binance still want to do?
Go to answers ⇩
Listen and Fill in the Gaps:
Cristiano Ronaldo, the famous football player, is in (1)______ because of a (2)______ in the United States. The lawsuit is about his support for Binance, which is a big cryptocurrency exchange. The people (3)______ say that Ronaldo’s promotion of Binance made them invest money and then lose it. They want over $1 billion in damages. The BBC has asked Ronaldo’s management company and Binance for comments.
In November 2022, Binance said that they were working with Ronaldo on a collection of digital (4)______ called NFTs. NFTs are virtual things that you can buy and sell, but they don’t exist in the real world. They’re used to show that you own something online, like a picture or a (5)______. (6)______’s (7)______ and shirt number, “CR7,” are used in lots of products, which is why he’s so rich. Ronaldo said he was excited about the partnership and thought it would change NFTs and make football even better.
The people suing say that Ronaldo’s (8)______ for Binance made lots of people search for it. They also say that people were told to invest in things that the government didn’t approve of. The US Securities and Exchange Commission says that these things can be seen as investments, and famous people have to follow the law when they talk about them. The people suing say that Ronaldo should have said how much (9)______ he got for supporting Binance, but he didn’t.
(10)______ Green, who runs a (11)______ called DeVere Group, thinks that this problem is bigger than just Ronaldo. He says that we need better rules from governments all around the world for cryptocurrencies. Even though Ronaldo is being sued, he and Binance still want to work together in the future. The BBC asked both Ronaldo and Binance for comments, but they haven’t said anything yet.
It’s important to know that the lawsuit against Binance happened after the US Justice Department told them to pay a lot of money in (12)______. The government said that (13)______ (14)______ people (15)______ the rules and hide money. The CEO of Binance, Changpeng Zhao, quit his job after admitting to breaking the money rules. Other companies like Major (16)______ Baseball, Formula 1, and Mercedes-Benz are also being sued for supporting a different cryptocurrency exchange called FTX.
So, Cristiano Ronaldo is in trouble because of his support for Binance. The people suing say that they lost money because of him and want over $1 billion in damages. This lawsuit shows that we need better rules for cryptocurrencies. Even though Ronaldo is being sued, he and Binance still want to work together.
Go to answers ⇩
Discussion Questions:
Students can ask a partner these questions, or discuss them as a group.
1. What is a cryptocurrency exchange like Binance?
2. How would you feel if you invested money in something and then lost it?
3. Do you like the idea of virtual things like NFTs? Why or why not?
4. Do you think famous people should be held responsible for the products they promote? Why or why not?
5. What do you think about the idea of having better rules for cryptocurrencies?
6. How do you think the lawsuit against Binance will affect the future of cryptocurrencies?
7. What would you do if you found out that a product you invested in was not approved by the government?
8. Why do you think the people suing Ronaldo want over $1 billion in damages?
9. How do you think Ronaldo feels about the lawsuit against him?
10. Do you think the government should have more control over cryptocurrencies? Why or why not?
11. How do you think the partnership between Ronaldo and Binance will be affected by the lawsuit?
12. What do you think about famous people endorsing products they may not fully understand?
13. How would you feel if you were in Ronaldo’s position?
14. Do you think the lawsuit against Binance will lead to stricter regulations for cryptocurrencies? Why or why not?
15. What do you think about companies like Formula 1 and Mercedes-Benz being sued for supporting a different cryptocurrency exchange?
Individual Activities
Vocabulary Meanings:
Match each word to its meaning.
Words:
1. Ronaldo
2. lawsuit
3. Binance
4. cryptocurrency
5. invest
6. damages
7. NFTs
8. partnership
Meanings:
(a) A famous football player in trouble
(b) A big cryptocurrency exchange
(c) Virtual items used to show ownership online
(d) A collaboration or working together between two parties
(e) Digital money that is not physical
(f) Legal action against someone
(g) Put money into something to make a profit
(h) Money claimed as compensation for harm or loss
Go to answers ⇩
Multiple Choice Questions:
1. What is the lawsuit against Cristiano Ronaldo about?
(a) His support for Binance
(b) His promotion of NFTs
(c) His involvement in money laundering
(d) His illegal investments in cryptocurrencies
2. What are NFTs?
(a) Digital currency used for online shopping
(b) Physical objects that can be bought and sold online
(c) Investments approved by the government
(d) Virtual things that represent ownership online
3. Why are people suing Ronaldo?
(a) They believe he broke the law by promoting cryptocurrencies
(b) They want him to pay fines for supporting Binance
(c) They think he hid money and broke the money rules
(d) They lost money because of his support for Binance
4. What does Nigel Green think needs to happen regarding cryptocurrencies?
(a) Ronaldo should be banned from promoting them
(b) Binance should be shut down completely
(c) Governments need to establish better rules
(d) People should stop investing in cryptocurrencies
5. What happened to Binance as a result of the lawsuit?
(a) They were forced to shut down their operations
(b) They had to pay damages to the people suing them
(c) They were fined by the US Justice Department
(d) They lost their partnership with Cristiano Ronaldo
6. Which other companies are being sued for supporting a different cryptocurrency exchange?
(a) Nike, Adidas, and Puma
(b) Major League Baseball, Formula 1, and Mercedes-Benz
(c) Apple, Google, and Facebook
(d) Amazon, Microsoft, and Tesla
7. What did the US Securities and Exchange Commission say about investments in cryptocurrencies?
(a) They should be regulated and famous people must follow the law when promoting them
(b) They are illegal and should be banned completely
(c) They are safe and everyone should invest in them
(d) They are not considered investments and do not require regulation
8. What is Ronaldo’s current relationship with Binance?
(a) They have cut ties and will no longer collaborate
(b) They still want to work together in the future
(c) Ronaldo is suing Binance for damages
(d) Binance has filed a countersuit against Ronaldo
Go to answers ⇩
True or False Questions:
1. Cristiano Ronaldo is not facing a lawsuit in the United States due to his endorsement of Binance, a cryptocurrency exchange.
2. The BBC has reached out to Ronaldo’s management company and Binance for comments on the lawsuit.
3. The US Securities and Exchange Commission does not believe that these investments can be seen as securities, and celebrities do not have to comply with the law when endorsing them.
4. The lawsuit claims that Ronaldo’s promotion of Binance led people to invest money and subsequently lose it.
5. In November 2022, Binance did not announce a collaboration with Ronaldo on a collection of digital assets known as NFTs.
6. The lawsuit does not allege that Ronaldo’s support for Binance prompted many individuals to search for and invest in the platform, as it is approved by the government.
7. NFTs are virtual items that can be bought and sold online but do not physically exist.
8. The individuals suing Ronaldo are seeking over $1 billion in damages.
Go to answers ⇩
Write a Summary:
Write a summary of this news article in two sentences.
Writing Questions:
Answer the following questions. Write as much as you can for each answer.
1. Why is Cristiano Ronaldo in trouble?
2. What is the lawsuit against Ronaldo about?
3. What are NFTs and how are they used?
4. Why are people suing Ronaldo and Binance?
5. What does Nigel Green think needs to happen with cryptocurrencies?
Answers
Comprehension Question Answers:
1. What is the lawsuit against Cristiano Ronaldo about?
The lawsuit against Cristiano Ronaldo is about his support for Binance, a cryptocurrency exchange. The people suing claim that Ronaldo’s promotion of Binance led them to invest money and subsequently lose it.
2. What are NFTs and how are they used?
NFTs, or non-fungible tokens, are virtual assets that can be bought and sold. They exist only in the digital world and are used to prove ownership of online items like images or videos.
3. Why do the people suing Ronaldo believe they lost money?
The people suing Ronaldo believe they lost money because they claim that his support for Binance caused many people to invest in it. They also argue that they were encouraged to invest in things that the government did not approve of.
4. According to Nigel Green, what needs to happen regarding cryptocurrencies?
According to Nigel Green, there is a need for better regulations and rules from governments worldwide when it comes to cryptocurrencies.
5. What happened to the CEO of Binance after the US Justice Department’s investigation?
After the US Justice Department’s investigation, the CEO of Binance, Changpeng Zhao, resigned from his position after admitting to breaking money rules.
6. Which other companies are also being sued for supporting a different cryptocurrency exchange?
Other companies being sued for supporting a different cryptocurrency exchange called FTX include Major League Baseball, Formula 1, and Mercedes-Benz.
7. How much money do the people suing Ronaldo want in damages?
The people suing Ronaldo are seeking over $1 billion in damages.
8. Despite the lawsuit, what do Ronaldo and Binance still want to do?
Despite the lawsuit, Ronaldo and Binance still express a desire to continue working together in the future.
Go back to questions ⇧
Listen and Fill in the Gaps Answers:
(1) trouble
(2) lawsuit
(3) suing
(4) things
(5) video
(6) Ronaldo
(7) initials
(8) support
(9) money
(10) Nigel
(11) company
(12) fines
(13) Binance
(14) helped
(15) break
(16) League
Go back to questions ⇧
Vocabulary Meanings Answers:
1. Ronaldo
Answer: (a) A famous football player in trouble
2. lawsuit
Answer: (f) Legal action against someone
3. Binance
Answer: (b) A big cryptocurrency exchange
4. cryptocurrency
Answer: (e) Digital money that is not physical
5. invest
Answer: (g) Put money into something to make a profit
6. damages
Answer: (h) Money claimed as compensation for harm or loss
7. NFTs
Answer: (c) Virtual items used to show ownership online
8. partnership
Answer: (d) A collaboration or working together between two parties
Go back to questions ⇧
Multiple Choice Answers:
1. What is the lawsuit against Cristiano Ronaldo about?
Answer: (a) His support for Binance
2. What are NFTs?
Answer: (d) Virtual things that represent ownership online
3. Why are people suing Ronaldo?
Answer: (d) They lost money because of his support for Binance
4. What does Nigel Green think needs to happen regarding cryptocurrencies?
Answer: (c) Governments need to establish better rules
5. What happened to Binance as a result of the lawsuit?
Answer: (c) They were fined by the US Justice Department
6. Which other companies are being sued for supporting a different cryptocurrency exchange?
Answer: (b) Major League Baseball, Formula 1, and Mercedes-Benz
7. What did the US Securities and Exchange Commission say about investments in cryptocurrencies?
Answer: (a) They should be regulated and famous people must follow the law when promoting them
8. What is Ronaldo’s current relationship with Binance?
Answer: (b) They still want to work together in the future
Go back to questions ⇧
True or False Answers:
1. Cristiano Ronaldo is not facing a lawsuit in the United States due to his endorsement of Binance, a cryptocurrency exchange. (Answer: False)
2. The BBC has reached out to Ronaldo’s management company and Binance for comments on the lawsuit. (Answer: True)
3. The US Securities and Exchange Commission does not believe that these investments can be seen as securities, and celebrities do not have to comply with the law when endorsing them. (Answer: False)
4. The lawsuit claims that Ronaldo’s promotion of Binance led people to invest money and subsequently lose it. (Answer: True)
5. In November 2022, Binance did not announce a collaboration with Ronaldo on a collection of digital assets known as NFTs. (Answer: False)
6. The lawsuit does not allege that Ronaldo’s support for Binance prompted many individuals to search for and invest in the platform, as it is approved by the government. (Answer: False)
7. NFTs are virtual items that can be bought and sold online but do not physically exist. (Answer: True)
8. The individuals suing Ronaldo are seeking over $1 billion in damages. (Answer: True)
Go back to questions ⇧
