FTX, a well-known cryptocurrency exchange and hedge fund, is in deep trouble after filing for bankruptcy. However, the repercussions of their collapse ripple further than merely their own fortunes; a laundry list of celebrities and athletes with whom they were associated have been caught in the turbulence and are facing scrutiny from the public. Shaquille O’Neal, Tom Brady, Stephen Curry, and other basketball stars have all been linked to the company that is now infamous. But, the worst doesn’t seem to be over yet as the company is now attempting something totally unexpected–pursuing return of more than $1,000,000 given to its celebrity endorsers.
The chain reaction started when Steph Curry was the first NBA star to endorse FTX; soon after, Shaqualie O’Neal and a host of other big names followed suit. With the onset of their lawsuit and possibility for bankruptcy, the Hall of Famer quickly distanced himself from the star-studded status it had become. While he joked about the battler between Curry and himself on television, the sever consequences of his affiliation remain.
As time marches onward, the money on FTX’s pockets dwindles due to the expensive lawsuits that are against them. To make money, the company must looks for ways to recover their funds –even if that means coming for their former endorsers who could owe back money for endorsements. These famous faces paid a hefty sum of money to work with FTX, according to Bloomberg, and now the company is attempting to have that money gone to it.
O’Neal was doggedly trying to skirt legal inquiries that involves FTX. He was alleged to be purposely doing his best to evade lawyers who lingered long at TNT studios where he was asked to be served. However, he lack of vigour in evading the proceedings opened up him months ago as he was eventually had after a three-month pursuit.
While the basketball legend has strongly denied to owning any portion of the company, the doubts that wagon him continues to exponentially grow. Professions may do no avail if it turns out that O’ Neal’s related was more pervasive or loaded than initially discussed. Time will certainly tell, as further details could possibly be unearthed in due course.
