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NBA legend Shaquille O’Neal has agreed to pay $1.8 million to settle allegations tied to his promotion of the collapsed crypto exchange FTX. The deal marks a rare celebrity resolution in the legal fallout from FTX’s 2022 implosion. If approved, it would end a class action accusing O’Neal of misleading investors through high-profile endorsements.
- O’Neal’s $1.8M settlement is one of the first major resolutions involving celebrity FTX promoters, distinguishing it from dismissed cases against other endorsers.
- The agreement includes a clause preventing O’Neal from seeking compensation from FTX’s bankruptcy estate, finalizing his financial detachment from the case.
- The lawsuit highlighted how O’Neal’s promotional campaigns during FTX’s collapse allegedly contributed to its perceived legitimacy, despite his later claims of limited crypto expertise.
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