NBA star Shaquille O'Neal has reached a settlement in the FTX lawsuit, having received nearly $750,000 in promotion fees.

BlockBeats News: On April 24, Cointelegraph reported that former NBA star Shaquille ONeal (Shaquille ONeal) has reached a settlement with investors who suffered losses due to the bankruptcy of FTX. Court documents show that the settlement amount is confidential, and the terms will be disclosed after the investor formally applies to the court for preliminary approval. O’Neal, along with other celebrities and athletes, is accused of promoting the bankrupt FTX trading platform, allegedly causing investors to incur losses. O’Neal was formally served on the FTX class-action lawsuit at his home on April 17 and was asked to appear in federal court and explain to the public what it was a “false advertising campaign” for FTX. FTX has paid O’Neal nearly $750,000 in promotion fees, tennis star Naomi Osaka about $308,000, Jaguars quarterback Trevor Lawrence nearly $206,000 and former Boston Red Sox player David Ortiz about $271,000.