Ronaldinho’s Crypto Controversy: Is Football in a Blockchain Dilemma?

A gloomy courtroom lit with slender rays of light creeping in from closed blinds, a portrait of Brazilian football legend Ronaldinho in a gavel. His symbolic representation illuminates the quandary faced in modern sports by the blockchain dilemma. Imbued in a chiaroscuro style, demonstrating a palpable tension.

In a recent revelation that could potentially have serious ramifications for the influential figure, the renowned Brazilian football legend Ronaldinho did not appear at a scheduled parliamentary hearing concerning his apparent involvement in cryptocurrency pyramid schemes. Subsequently, the lawmakers in the Brazilian parliament have ansounced that if he chooses to defy another hearing order later in the month, he might face incarceration.

Affiliated with the notable cryptocurrency platforms 18kRonaldinho and LBLV, Ronaldinho’s interactions with these companies are under the lawmakers’ scrutiny. It is suspected that the involvement of the acclaimed ex-footballer from international team Brazil and Barcelona, may have been misleadingly represented by the platform operators to bait potential investors into investing a minimum crypto amount of $30. Lured by prospects of earning 2% or more per day on investments, this partnership eventually turned into an alleged scam, creating a great deal of resentment.

It’s crucial to note that 18kRonadinho was originally the name of a legitimate watch and jewellery trader. Whether Ronaldinho had a purely ambassador-like role in the companies, and whether there was explicit consent from the football star for the use of his name and image in promotional content, forms the crux of the lawmakers’ inquiry.

While Ronaldinho’s absence at the hearing became the cause of much turmoil, his sibling Roberto de Assis Moreira made an appearance, expressing that Ronaldinho has been actively cooperating with the investigations and has already given clarification to the nation’s Public Ministry. Regardless, the parliament persisted in their requirement for Ronaldinho himself to attend the committee hearing and state his position in person.

An official complaint against 18kRonaldinho by disgruntled investors, who claimed a collective loss of around $61 million, set the wheels of legislative scrutiny in motion. Ronaldinho’s defense lawyers have, however, stated that similar to the investors, their client has also been victimized, contending he had not given explicit permission for his name or image to be used by the company.

In an interesting sequence of events, the former Barcelona star had last year launched cryptoasset RON, as part of the initiative with the crypto firm P00LS. The implication of successful footballers in cryptocurrency scams, either as promoters or victims, highlights the dilemmas faced by the sports industry. The outcome of the probe in Ronaldinho’s case is awaited, which will not only impact the star’s future, but also set cautionary tales for upcoming athletes walking the path of crypto investments.

Source: Cryptonews

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