Shaq to Pay $1.8M to Resolve Legal Dispute Over FTX Promotions

Shaquille O’Neal Settles FTX Lawsuit for $1.8M Without Admitting Fault

Basketball icon Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a class-action lawsuit tied to his role in promoting the failed crypto exchange FTX, according to multiple media reports.

Investors behind the lawsuit accused O’Neal of misleading them by endorsing FTX, citing his appearance in advertising campaigns before the platform’s dramatic collapse in late 2022. The lawsuit claims his involvement helped bolster trust in the exchange, which ultimately left thousands of users out of pocket.

The payout is notably higher than the $750,000 O’Neal was allegedly paid for the ad campaign, signaling a willingness to put the legal dispute behind him. The former NBA star was one of several celebrities—including Tom Brady and Larry David—who faced legal scrutiny over their FTX endorsements.

Since the exchange’s downfall, O’Neal has insisted he played no deeper role beyond acting in a commercial, stating, “I was just a paid spokesperson.”

Under the terms of the proposed settlement, O’Neal will not admit any wrongdoing and will be barred from seeking reimbursement through FTX’s bankruptcy proceedings. If the deal is approved by the court, it will end all future claims related to this case against him.

FTX’s founder, Sam Bankman-Fried, was sentenced to 25 years in prison earlier this year for orchestrating a multibillion-dollar fraud. Reports suggest his sentence could be reduced by more than four years under federal guidelines.