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Former NBA star Shaquille O'Neal agrees to pay $1.8 million to settle the FTX lawsuit.
Shaquille O’Neal has agreed to pay $1.8 million in a class-action lawsuit accusing him of promoting the collapsed cryptocurrency exchange FTX. The settlement will end the lawsuit, covering legal fees and compensation for investors who deposited or held FTT tokens from May 2019 to the end of 2022. O’Neal does not admit any wrongdoing and is released from future liability.
The lawsuit aims to hold celebrities accountable for supporting FTX before the exchange collapsed in late 2022, leaving billions of dollars in lost assets. Other celebrities being sued include Tom Brady and Naomi Osaka. O’Neal has previously faced criticism for dodging legal notices in this case.