• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shaquille O'Neal Agrees to Financial Settlement in FTX Lawsuit

user avatar

by Giorgi Kostiuk

2 days ago


Shaquille O'Neal, the renowned basketball player, has reached a substantial financial settlement regarding high-profile legal issues connected to the collapse of cryptocurrency exchange FTX. This agreement is part of a class-action lawsuit involving multiple celebrities.

Allegations Against O'Neal

O'Neal found himself at the center of controversy due to his involvement in an FTX advertisement for which he was compensated $750,000. As a result of the settlement, he is now required to pay $1.8 million, nearly double his original earnings. O'Neal, along with other celebrities like Tom Brady and Larry David, has been accused of fostering unwarranted trust in FTX, which ultimately failed.

O'Neal's Response to Settlement

Throughout the legal dispute, O'Neal maintained that he was merely a paid actor and had no influence on the subsequent collapse of FTX. As part of the legal agreement, any remaining claims related to his involvement will be dismissed. He has also agreed not to seek compensation through FTX's bankruptcy proceedings, while not admitting any liability.

Industry Implications

The collapse of FTX resulted in a 25-year prison sentence for founder Sam Bankman-Fried on fraud charges, leading to significant financial losses for investors. O'Neal's settlement allows him to avoid admitting wrongdoing, and his $1.8 million payout is designed to prevent further claims. This incident raises questions about the role of celebrities in the cryptocurrency industry, calling for more transparent practices.

Shaquille O'Neal's case emphasizes the importance of understanding the responsibilities that public figures have in advertising financial platforms. The discussions surrounding this incident may prompt a reevaluation of regulatory frameworks in the cryptocurrency industry.

0

Share

Other news

Unverified ₹57 Crore Crypto Scam Raises Concerns in India

The emergence of a ₹57 crore fake crypto wallet scam in India raises questions about crypto security and regulatory measures.

user avatarGiorgi Kostiuk

5 minutes ago

Truth Social Initiates Registration Process for Bitcoin and Ethereum ETFs

Truth Social, founded by Donald Trump, files for Bitcoin and Ethereum ETFs to attract investors.

user avatarGiorgi Kostiuk

5 minutes ago

Binance Alpha Introduces Ultiverse (ULTI) with Airdrop

Binance Alpha announced the listing of Ultiverse (ULTI) and an airdrop for users with 242 Alpha points, starting June 16, 2025.

user avatarGiorgi Kostiuk

7 minutes ago

Rising Interest of Institutional Investors in Crypto Assets

Institutional investment in crypto assets reaches a new record. Inflows over the past nine weeks have exceeded $13 billion.

user avatarGiorgi Kostiuk

8 minutes ago

Institutional Investments in Crypto Assets: Growth Amid Uncertainty

Institutional investors maintain interest in crypto assets, with total inflows surpassing $13 billion over the past nine weeks.

user avatarGiorgi Kostiuk

8 minutes ago

Bitget and UNICEF Launch Training Initiative for Girls in Blockchain

Bitget and UNICEF's initiative aims to train 300,000 girls in eight countries by 2027 to eliminate digital gender inequity.

user avatarGiorgi Kostiuk

9 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.