• 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

SK Hynix to Allocate Record Bonuses to Employees Amid Strong Profits

chest

SK Hynix is set to allocate 10% of its total operating profits to its profit-sharing program, resulting in record bonuses for employees.

user avatarTando Nkube

Samsung Electronics to Distribute Record Bonuses Amid AI Boom

chest

Samsung Electronics will distribute significant performance bonuses to its semiconductor division staff due to the AI boom and historic profits from the memory chip supercycle.

user avatarKofi Adjeman

Ethereum's Role in Decentralized Development

chest

Ethereum (ETH) serves as a programmable blockchain that supports decentralized applications and smart contracts, maintaining constant demand among developers.

user avatarNguyen Van Long

Hacker Steals 282 Million in Cryptocurrency Through Social Engineering

chest

A hacker executed a social engineering attack on January 10, stealing 282 million worth of Litecoin and Bitcoin.

user avatarJesper Sørensen

DeepSeek's Impact on China's Tech Landscape

chest

DeepSeek's launch of its AI model has spurred competition among Chinese tech firms, leading to rapid advancements in AI and robotics.

user avatarLucas Weissmann

China's Stock Market Rally Fueled by Tech Innovations

chest

Chinese tech shares have surged at the start of 2026, driven by advancements in various sectors and a positive growth outlook.

user avatarFilippo Romano

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.