Overview

• The payout resolves class-action allegations that O’Neal misled investors by promoting the collapsed exchange through paid endorsements.
• He will pay roughly $1 million more than his original $750,000 promotional fee and settle all future claims tied to the lawsuit.
• The agreement includes no admission of wrongdoing and prevents him from seeking repayment from FTX’s bankruptcy estate.
• Tom Brady, Steph Curry and other celebrity endorsers remain subject to litigation with potential damages exceeding $10 billion.
• The lawsuits allege unpaid promotions of unregistered securities and could set precedents for regulatory oversight of celebrity crypto endorsements.