Shaquille O’Neal Involved In A Lawsuit For Promoting FTX Crypto Currency

Shaq has made things hard for himself after promoting a defamed crypto-currency. FTX crypto has been under a lot of heat for fraud and unfortunately, O’Neal was a big supporter of it. It has now landed him in a lawsuit against the company.

Last November, FTX saw a severe decline before Bankman-Fried abruptly filed for bankruptcy. He was later detained and charged with defrauding clients of their money. In the beginning, O’Neal collaborated with FTX in an effort “to help make crypto more accessible for everyone.”

As things started to look grim for the crypto corp, Shaq started to distance itself from the mess. However, he was one of the most prominent faces who advocated for the company. Due to his major involvement in the firm, he has now been named in a lawsuit.

Shaq, however, wasn’t the only one, plenty of other celebs signed on board to use their celebrity to lure potential investors. He first endorsed the company at the beginning of 2022 in February during his Super Bowl festival, Shaq’s Fun House. The show was extremely successful and brought a lot of eyes which probably worked out well for FTX.

According to the lawsuit, Shaq utilized his “persuasion” to get individuals to join the cause. It claims that he was aware of what he was convincing others to do. According to The Jasmine Brand, Shaq is allegedly ducking and dodging the serving procedure, making it difficult for the complaint to reach the former Laker athlete.

Tom Brady, Giselle Bündchen, Steph Curry, and Larry David are some of the other celebs who promoted the firm. The lawsuit mentions that Shaq is not being singled out, he is just an important factor, more so than the other celebs. Stay tuned to Thirsty as we bring more on this interesting development.

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