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Shaquille O’Neal Settles FTX Promotion Lawsuit for $1.8 Million

This resolution shields O’Neal from future litigation over his role in promoting the failed cryptocurrency platform.

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Overview

  • O’Neal agreed to pay $1.8 million to settle a class-action suit alleging he misled investors through FTX endorsements.
  • The payout exceeds his $750,000 advertising fee and bars him from seeking reimbursement from FTX’s bankruptcy estate.
  • If approved, the deal releases O’Neal from all claims tied to investor losses between May 2019 and late 2022 without any admission of wrongdoing.
  • Other high-profile endorsers such as Tom Brady and Steph Curry remain defendants in lawsuits seeking billions in damages over unregistered crypto promotions.
  • Brady has since invested in Catena Labs, a Boston startup developing an AI-powered banking platform, as he navigates ongoing legal exposure.