• 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

Bitcoin Reclaims 65k Level After Volatile Trading Session

chest

Bitcoin has executed a sharp recovery, reclaiming the 65k psychological level after a volatile trading session in Asia.

user avatarZainab Kamara

BitMine Faces Major Losses as Ethereum Price Falls

chest

BitMine has reported a staggering increase in unrealized losses, now totaling $66 billion, as Ethereum's price continues to decline. Despite this, chairman Tom Lee has reiterated the company's confidence in Ethereum's fundamentals.

user avatarSon Min-ho

Senator Lummis Urges Banks to Innovate or Risk Obsolescence

chest

Senator Cynthia Lummis urges traditional banks to innovate to avoid obsolescence due to regulatory delays and the rise of blockchain technology.

user avatarAyman Ben Youssef

Robinhood CEO Vlad Tenev Predicts Prediction Markets Will Dominate

chest

Vlad Tenev, the CEO of Robinhood, predicts that prediction markets will become a dominant asset class due to increasing retail interest in political forecasting.

user avatarTando Nkube

BBVA Joins European Banking Consortium for Euro-Pegged Stablecoin

chest

BBVA has joined a consortium of European financial institutions to launch a euro-pegged stablecoin, expected in the second half of 2026.

user avatarKofi Adjeman

MicroStrategy Faces Major Stock Decline Amid Bitcoin Weakness

chest

MicroStrategy, the largest corporate holder of Bitcoin, has seen its stock plummet due to falling Bitcoin prices.

user avatarNguyen Van Long

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.