FTX advances with settlements and payouts.
However, its native token FTT faces weak technicals and limited investor confidence.
Shaquille O’Neal settles with FTX investors for $1.8 million over endorsement claims.
FTX is moving forward with customer repayments and legal settlements following its collapse in 2022, even as its native token, FTT, continues to struggle in the market.
With legal battles unresolved and trust eroded, the future of the FTX brand and the FTT token remain uncertain.
Legal Actions Continue
A month ago, former NBA star Shaquille O’Neal agreed to a $1.8 million settlement with FTX investors, according to documents filed in the U.S. District Court for the Southern District of Florida. The lawsuit, originally filed in May 2023, accused O’Neal of endorsing the now-defunct exchange in a 2022 television advertisement that allegedly misled retail investors.
Related: Shaquille O’Neal Agrees to a $1.8 Million Settlement in FTX Class-Action Lawsuit
This marks the first known celebrity settlement linked to FTX’s collapse. Other high-profile figures, including Tom Brady and Kevin O’Leary, were also sued but have not reached s…
