NBA star O'Neal agrees to pay $1.8 million to settle FTX investor lawsuit

On June 12th, NBA star Shaquille O'Neal has agreed to pay $1.8 million to settle a class action lawsuit stemming from his promotion of the now-bankrupt cryptocurrency exchange FTX. The settlement agreement is subject to court approval.

Previously, the plaintiffs accused O'Neal of promoting unregistered securities by presenting FTX as a safe and legitimate platform on events and social media. O'Neal had previously stated that he was just a "paid spokesperson" for FTX.