Shaquille O’Neal Settles FTX Endorsement Lawsuit as Exchange’s Bankruptcy Fallout Continues

NBA legend Shaquille O’Neal has reached a confidential settlement in a lawsuit filed by investors over his promotional involvement with the now-collapsed cryptocurrency exchange FTX. The resolution, signed on April 1 and disclosed in an April 23 court filing, marks another development in the ongoing fallout from FTX’s dramatic bankruptcy in November 2022. While terms remain undisclosed pending judicial approval, the case highlights the legal repercussions facing celebrities who endorsed the failed crypto platform during its heyday.

Shaquille O’Neal Settles FTX Endorsement Lawsuit Amid Exchange’s Bankruptcy Fallout

NBA legend Shaquille O’Neal has confidentially resolved a lawsuit filed by investors over his promotional ties to collapsed cryptocurrency exchange FTX. The settlement, signed April 1 and disclosed in an April 23 court filing, awaits judicial approval before terms become public.

The basketball icon featured prominently in FTX’s marketing campaigns prior to its November 2022 bankruptcy. His "paid spokesperson" defense failed to deter litigation targeting celebrity endorsers of the failed platform. The case highlights growing legal scrutiny of influencer promotions in volatile crypto markets.

FTX’s spectacular collapse continues generating aftershocks across crypto markets, with regulatory bodies intensifying oversight of exchange operations and celebrity partnerships. The settlement removes one legal overhang from the exchange’s catastrophic failure that erased billions in investor value.

Serum Price Prediction 2025-2030: SRM’s Path to $13 Amid FTX Liquidation Overhang

Serum (SRM) trades at $0.01469141, down 99% from its all-time high, as FTX-linked wallets control 33% of circulating supply. The DeFi token faces continued pressure from 87 million SRM tokens awaiting distribution in bankruptcy proceedings.

Technical analysis suggests a gradual recovery, with price targets of $0.106 by 2025 and $0.74 by 2030. market makers anticipate volatility spikes when FTX’s estate begins liquidating its SRM holdings, potentially creating both short-term downside and long-term accumulation opportunities.