Basketball icon Shaquille O’Neal has agreed to pay $1.8 million to settle a lawsuit tied to his promotion of the now-bankrupt crypto exchange FTX, according to new court filings.
The agreement comes nearly two years after FTX collapsed under the leadership of Sam Bankman-Fried, who misused customer funds and misled investors.
The settlement was reached after prolonged negotiations, building on earlier mediation efforts. While the terms have been finalized between the parties, the court still needs to approve the deal. O’Neal is expected to pay the agreed amount within 30 days of official approval.
The case is part of a broader class action lawsuit filed in 2022, targeting a roster of high-profile celebrities and athletes who publicly endorsed FTX without conducting due diligence. Other defendants include Stephen Curry, Tom Brady, Gisele Bündchen, Trevor Lawrence, and Kevin O’Leary.
O’Neal reportedly received $750,000 for his role in promoting the crypto platform. He initially reached a confidential settlement in April, but the amount has now been disclosed in this latest filing.
Bankman-Fried, who was convicted in 2023, is serving a 25-year sentence following one of the most high-profile fraud cases in recent financial history.
A legal clash between Coin Center and the U.S. Treasury Department over sanctions imposed on Tornado Cash has officially come to an end, following a joint decision to dismiss the case.
A sophisticated cyberattack targeting Brazil’s central bank reserve accounts has resulted in the theft of over $140 million (R$800 million), much of which was swiftly funneled through cryptocurrency channels.
A malicious open-source project on GitHub disguised as a Solana trading bot has compromised user wallets, according to a July 2, 2025, report by cybersecurity firm SlowMist.
The U.S. Department of Justice has sentenced Dwayne Golden, 57, of Pennsylvania to 97 months in prison for orchestrating a fraudulent crypto investment scheme that stole over $40 million from investors.