Overview

• Shaquille O’Neal has agreed to a confidential settlement in a lawsuit accusing him of promoting unregistered securities for FTX, pending court approval.
• The plaintiffs are seeking up to $21 billion in damages from O’Neal and other celebrity promoters tied to FTX’s collapse in 2022.
• Court filings reveal O’Neal was paid nearly $750,000 for his promotional work with FTX, though he maintains he was only a paid spokesperson without operational involvement.
• O’Neal previously settled a separate lawsuit in 2024 for $11 million related to his promotion of Astral NFTs, another crypto project tied to FTX.
• The settlement terms remain confidential, reflecting growing scrutiny over celebrity endorsements in unregulated markets like cryptocurrency.