The post Shaquille O’Neal Agrees to $1.8M FTX Settlement appeared first on Coinpedia Fintech News
NBA legend Shaquille O’Neal has agreed to pay $1.8 million to settle a lawsuit alleging he misled investors by promoting now-bankrupt crypto exchange FTX. The settlement, if approved, will resolve a class action case filed in Florida federal court.
What Happened?
The collapse of FTX in late 2022 shook the entire cryptocurrency market. O’Neal, along with other celebrities, had endorsed FTX as a legitimate platform for crypto trading. He appeared in commercials, live events, and social media promotions urging fans to trust the platform.
But behind the scenes, FTX was allegedly offering unregistered securities and engaging in fraudulent activity—leading to billions in customer losses.
Despite initially denying wrongdoing, Shaq’s team has now moved to settle the case without admitting liability.
“We are pleased to have this matter behind us,” said Shaq’s legal cou
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