Shaquille O’Neal Reaches Settlement in FTX Lawsuit That Lawyers Say He Was ‘Running’ From
Shaquille O’Neal has settled a lawsuit regarding his involvement in FTX's sale of unregistered securities prior to the firm's collapse in 2022. The settlement terms will remain confidential and are pending court approval. O’Neal appeared in an FTX advertisement claiming he was “all in” on the exchange, despite later stating he did not understand cryptocurrency. Other celebrities, including Tom Brady and Naomi Osaka, are also involved in legal issues related to FTX. O’Neal faced challenges in being served legal papers, with attempts made outside TNT studios. He received approximately $750,000 for his FTX advertisement. FTX had a 19-year sponsorship deal with the Miami Heat worth $135 million, which was later renamed after the collapse. O’Neal previously settled a lawsuit concerning his Astrals NFT project for $11 million, where he was deemed a potential "seller" under securities law.
