BlockBeats news, on June 12, according to CNBC reports, NBA star Shaquille O'Neal has agreed to pay $1.8 million to settle the class action lawsuit arising from promoting FTX.
O'Neal and other celebrities and athletes have been accused of promoting the bankrupt FTX trading platform, allegedly causing investors to suffer losses. O'Neal was formally served with the FTX class action lawsuit at home on April 17 and was required to appear in federal court to explain his 'false advertising campaign' for FTX to the public. FTX had paid O'Neal nearly $750,000 for promotion, tennis star Naomi Osaka about $308,000, Jacksonville Jaguars quarterback Trevor Lawrence nearly $206,000, and former Boston Red Sox player David Ortiz about $271,000.
