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.
Authorities in Beijing’s Haidian District have dismantled a sophisticated crypto laundering network involving former employees of Kuaishou, one of China’s top short-form video platforms.
WOO X, a popular cryptocurrency trading platform, has been hit by a serious security breach.
The first half of 2025 has already become the most damaging period in Web3 security history, according to Hacken’s newly released Half-Year Security Report.
The U.S. Department of Justice has officially ended its investigation into Kraken co-founder Jesse Powell, according to a Fortune report.