• 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

2 years 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

Citi Projects Tokenized Asset Market to Reach $55 Trillion by 2030

chest

Citi Group's Tokenization 2030 report estimates that the tokenized asset market could grow from $17 billion today to $55 trillion by 2030.

user avatarMiguel Rodriguez

Ethereum's Funding Rate Hits New High Despite Price Decline

chest

Ethereum's funding rate reached a new high on May 31, 2026, despite the token falling below $2,000, indicating heavy long positioning in the market.

user avatarLuis Flores

Bitcoin Enters Accumulation Zone, Analyst Predicts Potential Rally

chest

Crypto analyst Aralez suggests Bitcoin is in an accumulation zone that could lead to a new all-time high.

user avatarArif Mukhtar

Mt Gox Transfers 739 Million in Bitcoin as Repayment Process Continues

chest

Mt Gox transferred over 739 million in Bitcoin as it continues its long-awaited repayment process to creditors.

user avatarMaria Gutierrez

Bitwise Highlights Global Debt Pressure and Bitcoin's Unique Position

chest

Bitwise highlights the upcoming $30 trillion global debt refinancing in 2026 and its potential impact on Bitcoin's market position.

user avatarDavid Robinson

Ethereum Foundation Announces New Mandate Amid Internal Challenges

chest

Aya Miyaguchi, President of the Ethereum Foundation, announces a new mandate aimed at creating a smaller, more focused structure to address internal challenges and preserve Ethereum's unique value.

user avatarAndrew Smith

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.