NBA icon Shaquille O’Neal has agreed to pay $1.8 million to settle a class-action lawsuit accusing him and other celebrities of promoting the failed cryptocurrency exchange FTX.
O’Neal, who claimed he was merely a paid spokesperson, endorsed FTX in mid-2022 before its collapse later that year, which cost investors billions.
Other high-profile figures named in the suit include Tom Brady, Stephen Curry, Naomi Osaka, and Shohei Ohtani.
FTX founder Sam Bankman-Fried has been sentenced to 25 years in prison for fraud after the company’s downfall, which federal investigators say caused over $8 billion in customer losses.
