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Shaquille O’Neal Settling FTX Class Action Lawsuit for $1.8M

  • Former NBA star Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a class action lawsuit accusing him of promoting the now-defunct cryptocurrency exchange FTX.
  • The lawsuit, filed in November 2022, claims O'Neal and other celebrities misled investors by touting FTX as a trustworthy investment before its collapse and bankruptcy.
  • FTX was once the third-largest cryptocurrency exchange but suffered billions in losses and bankruptcy amid investigation into unauthorized use of customer funds.
  • A recent court filing in the U.S. District Court of Florida disclosed that O'Neal's $1.8 million payment is final, covers legal fees and payouts, and will be made within 30 days of settlement approval.
  • The settlement would end O'Neal's legal exposure related to FTX while the case highlights the ongoing legal reckoning over high-profile endorsements of failed crypto ventures.
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Cointelegraph broke the news in on Wednesday, June 11, 2025.
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