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American former professional basketball player, Shaquille O’Neal,, reached a settlement in the amount of $ 1.8 million to solve the claims to promote FTXnow a defective crypto exchange.
The money will be Used to cover legal costs, administrative fees and repayments People who used a platform or held their token, FTT, between May 2019 and the end of 2022.
Agreement It still needs the approval of the Federal Court in Florida. If approved, the case will be officially closed. O’Neal will also be protected from any future legal procedure related to that question And they will not be able to ask for money from FTX’s bankruptcy.
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This lawsuit claimed to be O’Neal played an active role in encouraging people to invest in FTXwho is accused of offering unregistered securities. He once appeared in an advertisement that said “everything in” on FTX, but later admitted that he did not fully understand cryptocurrencies.
Before that, O’Neal made titles to avoid legal documents. Lawyers from Moskowitz’s law firm have said they have to wait outside the TNT studio in Atlanta just to give him a complaint. Court records have shown that he has been paid about $ 750,000 for his promotional exchange with exchange.
O’Neal’s legal team said CNBC Were happy to solve the thing.
Recently, the federal judge rejected most of the legal requirements against several celebrities who promoted FTX, including Tom Brady, Kevin O’Leary and Stephen Curry. What made the decision? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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