Every time you see something that is Shaq-verified, you trust it. Yes, blindly. And with these hopes come responsibilities, but when things go wrong, there’s a lot to defend the image. Similarly, Shaquille O’Neal found himself in hot water back in 2022 after promoting the now-collapsed crypto exchange FTX. The company’s sudden downfall shook the financial world, but Shaq acted fast. Showing a sharp business sense, he agreed to pay $1.8 million to settle a class-action lawsuit. While this means that the NBA legend will be losing around $1.05 million as he only earned $750,000 from the promotion, it shows how he is willing to accept responsibility.

FTX’s collapse left more than financial ruin; it left anger. For many investors, it was a complete betrayal. Investors blamed Sam Bankman-Fried, the company’s founder, who is now serving 25 years for fraud and money laundering. But public fury didn’t stop with him. Celebrities who endorsed FTX became targets, too. Big names appeared in commercials, praised FTX online, and told fans to invest. But most didn’t know what was happening.

Behind the curtain, FTX was mismanaging customer funds and hiding massive losses. And under U.S. securities law, promoting investments isn’t allowed without proper registration. Many endorsements didn’t meet that standard. That’s why victims lashed out. Shaq’s quick settlement, in contrast, looked like the smart way out.

For victims, this settlement brought a sense of relief, even if only emotionally. Sunil Kavuri, who lost $2 million, said, “Settling with Shaquille O’Neal helps bring closure to the darkest period of our lives.” But the positive indication came when Lead attorney Adam Moskowitz (a lawyer representing victim FTX customers) echoed that feeling. He revealed, “Shaq got in right under the wire a few days before that order came out.” He added, “We gave him a good deal because it was before the order came out. He basically refunded what he was paid.” For many victims, this comes as a relief as they await further proceedings.

Although things are quieting down for Shaquille O’Neal, the storm continues for others like Tom Brady, Steph Curry, and Larry David. They haven’t settled and could face huge penalties. Moskowitz warned, “Other celebrities wouldn’t even sit down with us.” Some legal claims were dismissed, but several remain. Total damages could exceed $10 billion, and the case will likely head to trial. Shaq might’ve taken a hit, but he may have saved himself from much worse by acting fast.

Shaquille O’Neal rejects the celebrity tag as he eyes a purpose-driven future

Shaquille O’Neal has never been one to follow the crowd, and now, he’s drawing a line. Long before the FTX controversy, he was already distancing himself from the image many public figures lean into. While others chase fame, Shaq was turning away from the spotlight’s shallow end. His identity, he insisted, isn’t about being idolized as a “celebrity”. It’s about being real, rooted, and remembered for more than just the camera flash.

In a bold stance, O’Neal once told the New York Post, “These celebrities are going freaking crazy and I don’t want to be one. I denounce my celebrity-ness today. I’m done with it.” That, coming from perhaps one of the most recognizable faces in the industry, was surprising. For him, fame has never been the goal. He says too many public figures lose their way, caught up in ego and excess. That’s why he continues to distance himself from the title others would chase.

This isn’t just talk. O’Neal’s actions show consistency in his values. In April 2021, he quietly paid off a stranger’s layaway engagement ring at a Zales store. “I’m into making people happy,” he had said at the time. “I didn’t mean for that to get out because I don’t do it for that…I’m just trying to make people smile, that’s all.”

His upbringing shaped that mindset. Money and fame haven’t changed the man who made his way from humble beginnings. “Just because I made it doesn’t mean I’m bigger than you or smarter than you,” he explained. He speaks often about respect, kindness, and staying grounded, qualities he sees as lacking in today’s celebrity culture.

Even in the wake of big-stage transitions, Shaq keeps his message sharp. Recently, speaking to future networks after Inside the NBA’s final season, he said, “We’re kicking a–, we’re taking names, and we’re taking over.” That energy, however, doesn’t overshadow the fact that he also moves with caution. His recent early settlement in the FTX lawsuit showed a man choosing responsibility over reputation management.

It’s no surprise, then, that O’Neal took the legal hit before things got messier. While others face ongoing battles, Shaq made peace and moved forward. For someone who’s stepped away from ‘celebrity-ness,’ he continues to handle fame with a mix of clarity and control, never letting it define who he is or who he plans to become next.