According to @FoxNews, NBA legend Shaquille O’Neal has agreed to pay $1.8 million to settle a class-action lawsuit filed by investors of the collapsed cryptocurrency exchange FTX. The lawsuit alleged O'Neal misled investors by promoting the platform. This settlement amount is significantly higher than the reported $750,000 O'Neal received for the endorsement. For traders, this case underscores the increasing legal scrutiny and financial risks for celebrities promoting crypto assets, potentially impacting investor trust in similar endorsements. The settlement, if approved, will release O'Neal from future claims without an admission of wrongdoing, marking another chapter in the fallout from the FTX collapse, whose founder Sam Bankman-Fried was sentenced to 25 years in prison.

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.

According to BitMEX Research, the UK's Court of Appeal has rejected BSV Claims' attempt to pursue Kraken and Binance for BSV's 'forgone growth effect,' effectively ending the £9.3 billion lawsuit (source: BitMEX Research, May 21, 2025). The case now concerns a significantly smaller amount, estimated to be about 360 times less. This outcome removes a major legal overhang for both Kraken and Binance, supporting greater market stability for BSV and reducing regulatory uncertainty for leading crypto exchanges.