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

Shaquille O’Neal to Defend Claims in Unregistered Astral NFT Case

user avatar

by Giorgi Kostiuk

a year ago

  1. Case History
  2. Court's Decision
  3. Current Situation


    4. Former professional basketball player Shaquille O’Neal has faced a lawsuit concerning unregistered NFTs of the Astral project. The case has been ongoing for over a year, and O’Neal will now need to address the claims.

    Case History

    The lawsuit, which started over a year ago, raises claims against O’Neal regarding unregistered securities that he promoted online. The current suit alleges that Astral and Galaxy tokens are securities that were not registered under federal laws.

    Court's Decision

    In an order dated August 16, Miami federal court judge Federico Moreno found that the plaintiffs properly alleged O’Neal to be a 'seller' of the Astral NFT project. The judge rejected the claims that O’Neal controlled the project. Additionally, the court acknowledged that the plaintiffs sufficiently alleged that Astral and Galaxy tokens are securities under federal law.

    Judge Moreno wrote that the lawsuit 'sufficiently alleged that Astral and Galaxy tokens are securities subject to federal securities laws.'Federico Moreno

    Current Situation

    O’Neal’s lawyers argue for the case's dismissal, claiming he is neither a 'seller' nor a 'control person' of the project and that the NFTs and Galaxy tokens are not securities under U.S. law. Currently, Astral tokens are valued at approximately 0.106 SOL, equivalent to around $15.50 on the Magic Eden marketplace.

    Shaquille O’Neal must respond to the lawsuit's claims by September 12. O’Neal's representatives have not yet commented on the case.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Hyperliquid Introduces Direct Native USDC Deposits

chest

Hyperliquid exchange has launched direct native USDC deposits, enhancing user experience in decentralized finance.

user avatarGustavo Mendoza

Market Insights on Binance's Regulatory Realignment

chest

Market analysis indicates that Binance's integration under ADGM's regulatory framework could enhance market confidence and attract institutional investments.

user avatarMiguel Rodriguez

Binance to Transition Operations to ADGM-Licensed Entities

chest

Binance will transition its operations to three ADGM-licensed entities effective January 5, 2026, to standardize operations globally and enhance regulatory clarity.

user avatarRajesh Kumar

USPD Protocol Compromised in Major Security Breach

chest

USPD Protocol compromised in a major security breach due to a CPIMP attack, resulting in the minting of 98 million USPD tokens and the theft of 232 stETH.

user avatarAyman Ben Youssef

Twenty One Capital Executes $39B Bitcoin Transfer, Signaling Institutional Confidence

chest

Twenty One Capital has executed a massive Bitcoin transfer of 43,122 BTC, valued at approximately $3.94 billion, signaling deep institutional confidence in Bitcoin's long-term value.

user avatarLuis Flores

Yearn Finance yETH Vault Exploit Results in 9 Million Loss

chest

Yearn Finance's yETH vault was exploited, leading to a loss of 9 million.

user avatarZainab Kamara

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.