Shaquille O’Neal agrees to pay $1.8M to settle FTX crypto endorsement
June 13 (UPI) — Shaquille O’Neal, the retired basketball star and NBA analyst, has agreed to pay $1.8 million to settle claims that he misled investors by promoting the now-bankrupt crypto exchange FTX.
O’Neal, who urged fans to trust the platform in a commercial, won’t admit wrongdoing. He reportedly earned much less to make the commercial that aired in June 2022: around $750,000, Front Office Sports reported.
The settlement Monday marks one of the first high-profile settlements over FTX’s collapse, CNBC reported.
The civil case in Miami federal court. O’Neal must pay the amount within 30 days. An initial settlement was reached in November.
In the class-action suit, O’Neal is accused of presenting FTX as a trustworthy and…
