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Shaquille O’Neal settles his FTX lawsuit as part of a massive US$21B case involving celebrity promoters. Terms remain secret; read more about the crypto legal battle.
NBA icon Shaquille O'Neal has settled the FTX crypto lawsuit. It was filed by investors for Shaq’s involvement in endorsing the now-bankrupt crypto exchange FTX. The resolution was disclosed in an April 23 filing in the US District Court for the Southern District of Florida. The settlement terms remain private.
As per court documents, the financial information will only be made public after plaintiffs make a formal request for preliminary court approval. O'Neal was among several high-profile celebrities listed in the larger US$21 billion lawsuit against FTX endorsers. NFL star Tom Brady, supermodel Gisele Bündchen, and investor Kevin O'Leary were also accused.
The case was full of uncommon legal hurdles, with lawyers spending months trying to serve Shaq with court documents. Lawyers accused the former legend of avoiding service. They attempted to serve him several times, at his residences and even on live NBA games. He was finally served and eventually decided to settle.
The lawsuit is part of a large multidistrict case against celebrities and insiders for promoting FTX before its collapse in 2022. The case seeks damages far exceeding the US$9.2 billion currently being recovered through FTX’s bankruptcy process.
The FTX settlement follows a previous legal setback for Shaquille O’Neal. In late 2024, he agreed to a US$11 million settlement in a separate lawsuit for the promotion of the Astrals NFT project. That case, filed in Miami, claims O’Neal advertised unregistered securities in the form of Solana-based NFTs.
O'Neal's settlement marks the closing of a chapter. However, the overall legal effort against FTX's celebrity endorsers is not yet over. Courts have yet to establish liability among the other defendants.
