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Shaquille O’Neal has agreed to pay $1.8 million to settle a class-action lawsuit tied to his FTX promotion
The payout will cover legal fees, administrative costs, and investor compensation, resolving the case without Shaq admitting fault
He’ll be released from future liability and prohibited from seeking reimbursement from FTX’s bankruptcy estate

Shaquille O’Neal has quietly resolved the long-running lawsuit over his involvement with collapsed crypto exchange FTX by agreeing to a $1.8 million settlement in U.S. District Court in Florida. The deal closes a chapter that saw the basketball legend and other celebrities accused of misleading investors while promoting FTX, notably through social media, live events, and commercials. Although he was paid about $750,000 to endorse FTX, the settlement covers that amount, plus fees and investor payouts, effectively shielding him from further legal exposure.

O’Neal Admits No Wrongdoing

O’Neal’s settlement, agreed in April and formally filed on June 9, will fund legal representation, administrative expenses, and distributions to eligible class members, namely FTX users active between May 2019 and late 2022. He has not admitted wrongdoing, but the agreement bars him from future claims against the FTX estate, finalising the case on his end. 

O’Neal follows in the footsteps of other high-profile endorsers, including Tom Brady, Steph Curry, Gisele Bündchen, Naomi Osaka, and Larry David, all named in the consolidated class-action suit. While most of these cases have been dismissed, O’Neal remained entangled longer with attorney Adam Moskowitz noting that he “got in right under the wire” before key legal exemptions took effect, returning more than he earned. 

Not Shaq’s First Rodeo

This case isn’t O’Neal’s first brush with crypto-related legal trouble. In November 2024, he agreed to an $11 million payout to resolve a separate lawsuit involving Astrals, a Solana-based NFT project he co-founded with his son, Myles O’Neal. The project launched in early 2022 with promises of immersive lore, metaverse experiences, and utility tokens, but it faltered after the broader NFT market collapsed and project development stalled.

Investors accused O’Neal of using his celebrity status to artificially inflate demand while quietly distancing himself from the project once interest faded. The lawsuit alleged that promotional posts and appearances were part of a coordinated campaign to pump up sales without adequately disclosing the risks. The $11 million settlement did not include an admission of guilt but was intended to compensate defrauded holders and cover legal expenses.

The post Shaquille O’Neal Agrees to $1.8 Million FTX Payout appeared first on FullyCrypto.

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Filed under: Bitcoin - @ June 13, 2025 9:22 am