Shaquille O'Neal Settles Lawsuit with FTX Investors Over Promotion of Failed Crypto Exchange

Overview

Shaquille O’Neal has settled with investors of the FTX crypto exchange, who alleged that he contributed to fraudulent activities by endorsing the platform.

Key Points

O’Neal has reached a settlement with FTX investors, though the financial details have not been revealed.
Plaintiffs are pursuing up to $21 billion in damages from O’Neal and various other celebrity promoters and executives.

Other prominent individuals implicated include:

Naomi Osaka
Shohei Otani
Steph Curry
Tom Brady
Larry David
Kevin O’Leary
Gisele Bundchen

While O’Neal is the first significant figure to settle, several other promoters had previously settled in 2023, yielding a total of $1.4 million in small settlements. O’Neal had also settled in relation to a failed NFT venture last year, where he and allied promoters paid out $11 million to affected holders.