Shaquille O’Neal, the legendary Nationwide Basketball Affiliation (NBA) star, has obtained closing court docket approval to settle his class-action lawsuit with the Astrals non-fungible token assortment patrons for $11 million. O’Neal is one among many celebrities who beforehand promoted NFTs, cryptocurrencies, and different digital asset tasks however confronted vital legal responsibility beneath US securities legal guidelines.
O’Neal Fined $11M In Astrals NFT Lawsuit
On April 8, 2025, Federico A Moreno, a federal court docket choose in Florida, United States, lastly granted the previous NBA star Shaquille O’Neal a closing court docket approval to settle a class-action lawsuit with the Astrals NFT patrons for $11 million. The settlement deal stipulates that legend O’Neal can pay $2.9 million in lawyer charges and prices. He will even pay again all those that bought the Astrals NFT assortment from Could 2022 to January 2023. Those that bought the undertaking’s native $GLXY tokens till January 2023 are additionally eligible.
👨⚖️ Shaquille O’Neal to Pay $11M in Ultimate Settlement Over Astrals #NFT Lawsuit
Shaquille O’Neal has agreed to pay $11 million to resolve a class-action lawsuit tied to his involvement within the Astrals #NFT undertaking.#crypto pic.twitter.com/Nz4J0rKDtF
— CryptOpus (@ImCryptOpus) April 9, 2025
The Astrals was a non-fungible token assortment comprising a restricted version of 10,000 distinctive 3D digital objects created in April 2022. The NFT undertaking was made on the Solana blockchain community by the digital artist Damien Guimoneau and based by Shaquille O’Neal. This Solana-based undertaking promoted a digital world the place crypto customers might socialize and play with others, together with the basketball star.
The Astrals NFT assortment crashed to zero in 2022 after the FTX collapse, which left the overall non-fungible token market down over 30% from its preliminary 50% meltdown. In fury to the meltdown, the Astrals and Galaxy holders contracted Moskowitz Regulation Agency and filed a lawsuit in opposition to O’Neal. The NFT holders mentioned they purchased Astrals NFTs and “suffered large funding losses” because of O’Neal’s “conduct” in selling the undertaking.
Different Celebrities Sued For Crypto Promotion
NBA Legend Shaquille O’Neal just isn’t the one celeb, who has tasted the wrath of the US Securities and trade fee (SEC), for selling unregistered securities. Different celebrities, together with Tom Brady, Gisele Bundchen, Steph Curry, Naomi Osaka, Shohei Otani, and Larry David, are additionally dealing with a reckoning for comparable endorsements in a separate swimsuit over the demise of crypto platform FTX.
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