Shaq Finally Cuts FTX Legal Drama—After Dodging Court Like a Defensive Rebound

Basketball legend-turned-crypto-shill Shaquille O’Neal quietly settled his FTX lawsuit this week—ending months of legal footwork that rivaled his on-court agility. The case had been hanging over him like a bad NFT investment since the exchange collapsed.

Dodging subpoenas like Shaq dodges free-throw practice

Court records show process servers chased the 7’1" Hall-of-Famer across multiple states before finally nailing him with papers. His legal team’s strategy? The same as his late-career playbook—stall, pivot, and let the clock run out.

Another celebrity crypto endorsement goes up in smoke

The settlement terms remain confidential (probably paid in leftover FTT tokens). Meanwhile, retail investors who followed his ’can’t-miss’ FTX ads are still waiting for their day in court—or at least a refund.

Finance never changes: stars get golden parachutes while bagholders get memes.

O’Neal Settles NFT Lawsuit and FTX Lawsuit

The FTX lawsuit isn’t the first time O’Neal has found himself entangled in legal matters within the cryptocurrency space. In November 2024, he agreed to settle a class-action lawsuit for $11 million, which accused him of promoting unregistered securities through his endorsement of the Astrals NFT project.

The lawsuit, filed in September 2023, focused on O’Neal’s role in backing Astrals, a collection of 10,000 metaverse-ready 3D avatars. Plaintiffs argued that O’Neal’s star power was central to the project’s appeal, with his celebrity status driving investors to buy Astrals NFTs and GLXY tokens. They contended that these digital assets operated as unregistered securities, in violation of federal laws.

While the settlement was reached without an admission of guilt, it highlights the growing legal risks surrounding celebrity endorsements in the crypto and NFT markets. As these cases unfold, the pressure on public figures to carefully VET their involvement in such ventures only increases.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.