Shaq's FTX Saga: A $1.8 Million Settlement Closes the Chapter

The rollercoaster ride of legal battles between basketball legend Shaquille O'Neal and the infamous FTX exchange is finally screeching to a halt!

Get this: Shaq's agreed to cough up $1.8 million to settle the fiery class action lawsuit that slammed him for hyping up FTX and leading investors astray.

This whole mess kicked off last November when they hit him with the lawsuit over his starring role in the "FTX: I Am All In" campaign. They called him "Shaqtoshi," and it wasn't a compliment. They chased him down and finally served him outside his Atlanta crib in 2023, after a wild goose chase.

UPDATE: The plaintiffs in the monster $21 billion FTX class action case just ambushed @SHAQ at his own home. His security cams caught the whole showdown, and we told him straight up: don't you dare mess with those tapes, because they're crucial evidence for our lawsuit.

O'Neal wasn't the only celeb in the hot seat; the lawsuit named a whole bunch of them. They were out for blood, demanding up to $21 billion in damages. Shaq kept insisting he was just a paid pitchman, nothing more, nothing less, while the legal drama dragged on for years.

If the court gives the green light, the $1.8 million settlement will go straight to helping out the investors who got burned. Plus, it'll wipe the slate clean for Shaq, protecting him from any future FTX headaches and blocking him from clawing back cash from the exchange's bankruptcy mess.

Meanwhile, over at FTX, they're still hustling to make things right with the thousands of customers and investors who got left in the dust when it all came crashing down in 2022.

FTX Teams Up with Payoneer to Pay Back Creditors

Hold onto your hats, because on June 10, 2025, the bankrupt exchange dropped a bombshell: they're teaming up with Payoneer to help pay off their debts. Payoneer's joining forces with BitGo and Kraken to get those funds flowing to the people who are owed big time.

FTX kicked off their repayment party back in February, shelling out $1.2 billion to folks with losses under $50,000. Then, in May, they announced round two, promising to dish out another $5 billion to more creditors.

The FTX meltdown? It's the stuff of crypto legend - one of the biggest financial blowouts ever. We're talking fraud, corporate dirty deeds, and executives playing fast and loose with customer cash. And let's not forget about Sam Bankman-Fried (SBF), the mastermind behind it all, who's now cooling his heels in prison for 25 years.