The post Shaquille O’Neal Reaches Crucial $1.8M Settlement In FTX Lawsuit appeared on BitcoinEthereumNews.com.

Big news has just dropped in the ongoing saga surrounding the collapsed crypto exchange FTX. Basketball legend Shaquille O’Neal, often referred to as Shaq, has reportedly reached a significant agreement to resolve claims against him related to his promotion of the platform. This development marks a notable moment in the FTX lawsuit landscape, particularly concerning the involvement of high-profile figures. The Details of the Shaquille O’Neal Crypto Settlement According to recent reports, Shaquille O’Neal has agreed to pay $1.8 million to settle the claims brought against him. These claims alleged that he promoted unregistered securities through his association with FTX. While the sum is substantial, it’s important to note the key terms of the agreement, which is still pending court approval: Settlement Amount: $1.8 million paid by Shaquille O’Neal. No Admission of Wrongdoing: A crucial point of the settlement is that O’Neal does not admit to any illegal activities or wrongdoing in connection with his promotion of FTX. No Reimbursement from FTX Estate: The agreement explicitly states that O’Neal will not seek reimbursement for this settlement amount from the bankrupt FTX estate. This means the payment comes directly from him. This crypto settlement brings one piece of the complex FTX legal puzzle closer to resolution, at least regarding one prominent individual associated with the exchange. Why Was Shaquille O’Neal Targeted in the FTX Lawsuit? Shaquille O’Neal was one of several celebrities who endorsed FTX before its dramatic collapse in November 2022. He appeared in commercials and promotional materials for the exchange, famously stating, “I’m all in. You guys know me. I’m a guy of the people. So, I’m always going to make sure you guys are right. And that’s why I’m involved with FTX.” The lawsuit against O’Neal and other celebrity endorsers alleged that they promoted FTX without disclosing the…

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Filed under: News - @ June 12, 2025 11:30 am