Shaquille O’Neal to Pay $1.8 Million in FTX Class Settlement (1)

Shaquille O’Neal has agreed to pay victims of the FTX collapse $1.8 million to settle claims that he promoted the now-collapsed cryptocurrency exchange, according to a federal court filing.

The classwide settlement is fair and should be given preliminary approval, investors who bought crypto assets through FTX told the US District Court for the Southern District of Florida on Monday.

The retired National Basketball Association star-turned-businessman is among numerous sports figures and celebrities sued as promoters for allegedly enabling the now-bankrupt exchange to engage in fraud. Judge K. Michael Moore ruled in May, after O’Neal announced a settlement in principle, ...