{"id":127862,"date":"2025-04-24T10:17:15","date_gmt":"2025-04-24T10:17:15","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127862"},"modified":"2025-04-24T10:17:15","modified_gmt":"2025-04-24T10:17:15","slug":"shaquille-oneal-reaches-settlement-in-ftx-lawsuit-terms-remain-secret","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127862","title":{"rendered":"Shaquille O\u2019Neal reaches settlement in FTX lawsuit, terms remain secret"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsShaquille O\u2019Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for the Southern District of Florida.<br \/>\nThe settlement amount remains confidential, with terms expected to be disclosed after investors formally request preliminary court approval, according to court documents.<br \/>\nO\u2019Neal and other celebrities and athletes were accused of promoting FTX and allegedly contributing to investor losses by endorsing the now-bankrupt exchange.<br \/>\nSource: Court ListenerThe case is part of a broader multidistrict litigation effort, where investors are seeking up to $21 billion in damages from FTX insiders, advisers and promoters, far exceeding the $9.2 billion available through bankruptcy proceedings.<br \/>\nOther celebrities embroiled in similar legal troubles for their roles in FTX include NFL quarterback Tom Brady, supermodel Gisele B\u00fcndchen, billionaire investor Kevin O\u2019Leary, former NBA player Udonis Haslem, David Ortiz, Naomi Osaka and others.\u00a0<br \/>\nNotably, FTX investors faced challenges in serving O\u2019Neal with legal papers during the early stages of the lawsuit over his promotion of the collapsed exchange.<br \/>\nLawyers representing the victims described O\u2019Neal as \u201crunning from the lawsuit,\u201d after multiple failed attempts to deliver court documents. Legal teams reportedly spent months trying to reach the NBA legend, resorting to creative methods, including attempting service during NBA games and at his residences.<br \/>\nRelated: FTX former execs and promoters to settle class-action lawsuit for $1.3M<br \/>\nO\u2019Neal finalizes $11 million settlement over Astrals NFT project<br \/>\nThe settlement with FTX investors comes as O\u2019Neal recently agreed to pay $11 million to resolve a class-action lawsuit tied to his involvement in the Solana-based Astrals NFT project.<br \/>\nIn May 2023, O\u2019Neal was served with the Astral NFT lawsuit during an NBA game at Miami\u2019s Kaseya Center, formerly the FTX Arena. The class-action lawsuit involved his promotion of the Astrals NFT project, alleging that the NFTs promoted by O\u2019Neal were unregistered securities.<br \/>\nIn August 2024, a Miami federal court judge ruled that O\u2019Neal would need to defend some of the claims brought against him in the case.\u00a0<br \/>\nAstrals is a Solana-based project featuring 10,000 NFTs,\u00a0a metaverse\u00a0called Astralworld and a decentralized autonomous organization (DAO) with a governance token called Galaxy.<br \/>\nMagazine: Ethereum maxis should become \u2018assholes\u2019 to win TradFi tokenization race<a href=\"https:\/\/cointelegraph.com\/news\/shaquille-o-neal-reaches-settlement-in-ftx-lawsuit-terms-remain-secret?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsShaquille O\u2019Neal has settled with investors who claim losses from the collapse of cryptocurrency exchange FTX, according to an April 23 filing in the US District Court for&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127862"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127862"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127862\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127862"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}