Former NBA star Shaquille O’Neal has settled claims against him related to the collapse of FTX, a cryptocurrency exchange he was involved with in 2022. The settlement is worth $1.8 million.
O’Neal’s deal came before a court order dismissing many of the claims against other defendants, including former NFL quarterback and Fox broadcaster Tom Brady, who scored a partial win last month. However, the litigation continues for Brady.
According to attorney Adam Moskowitz, who represents the plaintiffs in the FTX case, O’Neal got off relatively easy due to the court order. “Shaq basically refunded what he was paid,” Moskowitz said. The order also resulted in a 500-page amended complaint that may lead to massive financial exposure for remaining defendants.
Celebrity endorsers like Brady, Steph Curry, and Larry David have not settled with FTX. However, O’Neal’s settlement suggests they should consider negotiating their own deals. Tom Brady is still facing potential billions of dollars in damages due to his role in promoting the failed exchange.
The FTX debacle remains an embarrassing aspect of Brady’s off-field legacy, where he invested $55 million in FTX stock that lost value. The case may continue to affect Brady’s reputation and finances.
Source: https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/while-tom-brady-fights-ftx-case-shaquille-oneal-settles-for-1-8-million