Shaquille O’Neal agreed to pay $11 million to settle a class action lawsuit from holders of the Astrals NFT collection. 🏀 Judge Federico Moreno in Florida must approve this proposal. If this happens, the case will be closed, resolving allegations of promoting unregistered securities.

The Astrals NFT project, created in collaboration with artist Damien Hirst, included 10,000 digital collectibles and the Galaxy cryptocurrency. O’Neal actively promoted the project using his fame and even performing as "DJ Diesel." However, after the FTX collapse, investors filed a lawsuit claiming that O’Neal was aware of the tokens' unregistered status.

The legal proceedings began in May 2023, and in August 2024, Judge Moreno ruled that the plaintiffs correctly asserted that the NFTs functioned as securities. After more than a year of litigation, the parties reached a settlement in November 2024. If the court approves, investors will be able to recover their losses. However, O’Neal still faces other legal issues related to cryptocurrencies. 📈