NBA Legend Shaq Settles FTX Class Action For $1.8 Million Without Admitting Fault In Crypto Promotion Case
Posted On June 12, 2025
Basketball legend Shaquille O’Neal, often known as Shaq, will pay $1.8 million to settle allegations that he promoted unregistered securities through his endorsement of the collapsed cryptocurrency exchange FTX.
What Happened: The proposed settlement, filed in Florida federal court on Wednesday, resolves a class action lawsuit without O’Neal admitting wrongdoing. The deal marks one of the first high-profile celebrity settlements stemming from FTX’s November 2022 bankruptcy, reported CNBC.
Plaintiffs accused the NBA superstar of presenting FTX as a trustworthy investment platform through live events and social media content. The class action covers investors who deposited funds into FTX or held its proprietary FTT token between May 2019 and …
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