Shaquille O'Neal Settles FTX Lawsuit For $1.8M

• 
• 
• 
• 
• 

Investors in the cryptocurrency company sued the former basketball player for his role in endorsing the platform

NBA Hall of Famer Shaquille O'Neal has agreed to settle a lawsuit against him for his involvement in the now-bankrupt cryptocurrency company FTX.

According to Fortune, the retired Los Angeles Lakers legend has settled the suit for $1.8 million for his role in promoting the failed company.

The company went bankrupt in 2022 after Founder Sam Bankman-Fried was accused of investing money in ventures without investors' approval. For his role in the company losing billions of dollars, he was sentenced to 25 years in prison in March 2024.

Investors sued Shaq and other celebrity investors like former NFL quarterback Tom Brady, NBA superstar Stephen Curry, and tennis phenom Naomi Osaka, among others, who endorsed the platform.

After being sued, Shaq stated he was only a celebrity being used for an ad.

"I have nothing to hide. If I was heavily involved, I would be at the forefront saying, 'Hey.' But I was just a paid spokesperson," Shaquille O'Neal said in December 2022.