Shaquille O’Neal reaches settlement in FTX lawsuit, terms remain secret
Shaquille O’Neal has reached a confidential settlement with investors claiming losses from the collapse of cryptocurrency exchange FTX, as filed in the US District Court for the Southern District of Florida. The settlement terms will be disclosed upon formal court approval requests. O’Neal, along with other celebrities, was accused of promoting FTX and contributing to investor losses. This case is part of a larger litigation seeking up to $21 billion in damages from FTX insiders and promoters. Other celebrities involved include Tom Brady, Gisele Bündchen, and Kevin O’Leary. O’Neal also agreed to an $11 million settlement related to a class-action lawsuit concerning his promotion of the Astrals NFT project, which was alleged to involve unregistered securities. He was served with this lawsuit during an NBA game in May 2023. A federal court ruled in August 2024 that he must defend some claims in this case.
