Overview

• O’Neal agreed to pay $1.8 million to resolve claims that he misled investors by promoting FTX at live events and on social media between 2019 and 2022.
• Filed in Florida federal court, the settlement covers legal fees, administration costs and payouts to eligible investors and grants a sweeping release from future liability.
• The agreement prohibits O’Neal from seeking reimbursement from the FTX bankruptcy estate, leaving him with a net loss of about $1.05 million after his $750,000 endorsement fee.
• Other celebrity endorsers, including Tom Brady, Gisele Bündchen and Steph Curry, remain subject to potential lawsuits after most claims against them were dismissed.
• The settlement highlights intensified regulatory scrutiny of celebrity crypto endorsements as authorities emphasize fair disclosure and investor education.