Cryptocurrency exchange Binance has connected Cristiano Ronaldo, who continues his football career in Arabia, to a lie detector.
The partnership with one of the most popular football players in the world, Cristiano Ronaldo, and the crypto exchange Binance has been taken to a new level. Binance, who put Ronaldo on the lie detector, shared a short section from the broadcast.
In the trailer released, it is possible to say that Ronaldo had a hard time with Binance’s lie detector. Ronaldo’s answer to the question about the World Cup is a matter of curiosity.
Posting the trailer on X (formerly Twitter), Ronaldo said, “Binance has given me one of the toughest challenges I’ve ever faced.” Ronaldo’s share reached 31 million views in a short time.
.@Binance gave me one of my hardest challenges yet – facing the lie detector.
Full video coming soon, stay tuned. pic.twitter.com/wnh0OMwYN2
— Cristiano Ronaldo (@Cristiano) August 27, 2023
With 109 million followers in X, Ronaldo’s worldwide fame has turned his route to Arab geography as he continues his football life in Saudi Arabia. The interest of the Gulf capital in crypto is well known. Therefore, Ronaldo’s positioning as an ambassador introducing Saudi Arabia to the world has the power to increase the crypto adoption of Arab capital.
Why is Gulf capital important to crypto?
The crypto industry needs new people especially these days. There are many problems such as illiquidity in exchanges, decreased interest in crypto and low trading volumes. Therefore, a new capital inflow and an Arab geography-based rise in crypto adoption could be instrumental in reviving the market. As it is known, bull markets are formed by the emergence of new buyers.
As it is known, the United Arab Emirates opened its doors to Web3 and blockchain with a $2 billion investment program earlier this year. The United Arab Emirates plans to center the technology sector in the capital, Abu Dhabi. In this context, they have opened their mouths for blockchain, Web3 and metaverse.
Since Ronaldo is one of the Arabs’ favorite celebrities, he can increase the number of such initiatives. Also, according to a survey conducted in the country, one-third of the residents of the United Arab Emirates are invested in crypto.
On the other hand, things are moderate for crypto in Saudi Arabia, where Ronaldo continues his football career. Saudi Arabia focused on tokenization as a result of its joint work with Hong Kong. The Saudi Central Bank (SAMA) and Hong Kong Monetary Authority (HKMA) addressed the issue of tokenization as part of developing financial infrastructure and fintech initiatives. He also partnered with The Sandbox, one of the Saudi Arabian metaverse projects.
Another Arab country, Oman, has also opened its doors to digital assets. The government of Oman recently announced that it has created an $800 million fund for crypto mining. By putting such a large fund into the crypto space, Oman can sign more initiatives.
Finally, there is a hot environment for crypto in Bahrain as well. Bahrain took an important step in Bitcoin and crypto last year. The Central Bank of Bahrain announced its partnership with EazyPay and Binance to pay with Bitcoin (BTC).
The potential for both Gulf capital and Arab geographies to adopt crypto could drive billions of dollars into crypto. But it is also true that many more popular and powerful brand faces like Ronaldo are needed to better reflect crypto.
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