In a twist that could only be described as a plot twist worthy of a particularly absurd novel, NBA legend Shaquille O’Neal has decided to settle a lawsuit regarding his endorsement of the now-defunct crypto exchange FTX for a staggering $1.8 million. Yes, you heard that right—$1.8 million! That’s enough to buy a small island or at least a very large pizza. 🍕
Recent court documents reveal that the retired superstar is embroiled in a legal kerfuffle, accused of promoting FTX, which spectacularly went belly-up in 2022. This was after its chief executive, Sam Bankman-Fried, was discovered to be juggling billions of dollars like a circus performer with a penchant for financial mischief. 🎪
“This proposed settlement… results from the tremendous efforts of the parties, with negotiations informed by previous mediations and settlement agreements which were reached in this action.” Ah yes, the classic legalese—where words are strung together in a way that makes you wonder if anyone actually knows what they mean. 🤔
“Defendant O’Neal has agreed to provide $1,800,000 in monetary relief in exchange for reaching this early settlement, which amount will be paid within 30 days after the effective date of the settlement.” Because nothing says “I’m sorry” quite like a hefty check, right?
However, before we all start throwing confetti, it’s worth noting that this agreement is still pending approval from the court. So, stay tuned for the next episode of “As the Court Turns.” 📺
O’Neal, along with a star-studded cast of celebrities—including fellow NBA superstar Stephen Curry, NFL quarterbacks Tom Brady and Trevor Lawrence, MLB pitcher Shohei Ohtani, Shark Tank investor Kevin O’Leary, and supermodel Gisele Bündchen—were all accused of failing to perform due diligence before promoting FTX. Apparently, doing your homework is not a requirement for fame. 📚
O’Neal, who pocketed a cool $750,000 for his endorsement, first agreed to a settlement back in April, though the amount was shrouded in mystery at the time. Perhaps it was hidden under a pile of basketballs? 🏀
As for Bankman-Fried, he was found guilty of his financial shenanigans in 2023 and sentenced to 25 years behind bars in 2024. A fitting end for a man who thought he could play fast and loose with other people’s money. 🏛️
Read More
2025-06-14 22:04