According to FoxNews, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement in a class-action lawsuit for promoting the collapsed crypto exchange FTX, a figure substantially higher than the $750,000 he was reportedly paid for the endorsement. In a separate development crucial for FTX creditors, the bankrupt exchange's estate is formally challenging a $1.53 billion claim from the liquidators of crypto hedge fund Three Arrows Capital (3AC). FTX's lawyers argue in a court filing that 3AC is owed nothing, attributing the hedge fund's collapse to its own risky trading strategies and market declines, not any malfeasance by FTX. The filing states the actual value of 3AC's assets on the exchange was only $284 million in June 2022, disputing 3AC's claim that FTX improperly liquidated $1.53 billion of its assets.

According to FoxNews, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement in a class-action lawsuit filed by investors of the collapsed cryptocurrency exchange FTX. The lawsuit alleged that O'Neal misled investors through his promotional activities for the platform. This settlement amount is significantly higher than the $750,000 he was reportedly paid for the endorsement. The agreement, if approved, releases O'Neal from future claims related to the case without any admission of wrongdoing. This development is part of the ongoing legal fallout from the FTX collapse, where founder Sam Bankman-Fried was sentenced to 25 years in prison, highlighting the legal and financial risks associated with celebrity crypto endorsements for traders and the market.

According to the source, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a class-action lawsuit from investors of the collapsed crypto exchange FTX. The lawsuit alleged that O'Neal misled investors through his promotional activities for the exchange, for which he was reportedly paid $750,000. This settlement, which awaits court approval, releases him from future claims without any admission of wrongdoing, as reported by CNBC. This development is part of the ongoing legal repercussions from the FTX collapse, where founder Sam Bankman-Fried was sentenced to 25 years in prison, serving as a significant reminder to traders of the risks associated with celebrity endorsements in the cryptocurrency market.