{"id":135882,"date":"2024-08-20T19:00:02","date_gmt":"2024-08-20T16:00:02","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135882"},"modified":"2024-08-20T14:43:43","modified_gmt":"2024-08-20T11:43:43","slug":"shaquille-oneal-faces-legal-battle-over-nft-promotion","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/shaquille-oneal-faces-legal-battle-over-nft-promotion\/","title":{"rendered":"Shaquille O\u2019Neal Faces Legal Battle Over NFT Promotion"},"content":{"rendered":"<p>The lawsuit, which has been in progress for over a year, accuses O\u2019Neal of promoting these NFTs as unregistered securities. On August 16, Judge Federico Moreno <strong><a href=\"https:\/\/www.courtlistener.com\/docket\/67416324\/91\/harper-v-oneal\/\" target=\"_blank\" rel=\"nofollow\">ruled<\/a><\/strong> that O\u2019Neal must respond to claims that he acted as a \u201cseller\u201d for Astrals NFTs. However, the judge dismissed the allegations that O\u2019Neal had control over the project.<\/p>\n<p>Filed in May 2023, the lawsuit argues that Astrals and Galaxy tokens should be regulated as securities under U.S. law. It claims O\u2019Neal encouraged investors to buy in before the project\u2019s value was expected to rise, but that the value collapsed after he exited.<\/p>\n<p>The lawsuit highlights that O\u2019Neal\u2019s promotion contributed to a significant drop in the value of these assets.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/indian-investor-arrested-in-bitconnect-kidnapping-case\/\" title=\"Indian Investor Arrested in BitConnect Kidnapping Case\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/2601-5d013765721d3-240x170.\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Indian Investor Arrested in BitConnect Kidnapping Case<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>O\u2019Neal\u2019s legal team contends that he was neither a \u201cseller\u201d nor a key figure in the project and disputes that the NFTs and tokens are securities. They argue that the case should be dismissed based on these points.<\/p>\n<p>O\u2019Neal has until September 12 to address the claims. Currently, the floor price for Astrals NFTs is approximately $15.50. The project, which operates on the Solana blockchain, features 10,000 NFTs, a metaverse called Astralworld, and a DAO governed by the Galaxy token.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former NBA star Shaquille O\u2019Neal is facing legal scrutiny in an ongoing class-action lawsuit involving Astral NFTs.<\/p>\n","protected":false},"author":3,"featured_media":135883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-135882","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shaquille O\u2019Neal Faces Legal Battle Over NFT Promotion<\/title>\n<meta name=\"description\" content=\"Former NBA star 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