“Watched Shaquille O’Neal Live Yesterday”: NBA Twitter Roasts Forbes Headline About Shaq ‘Hiding’ From Government After FTX Debacle

Forbes reported yesterday that Shaquille O’Neal has been dodging a class-action lawsuit served on his name in the FTX Debacle last November.

FTX is a bankrupt cryptocurrency exchange that was founded in 2019. This was a time when the crypto markets were pushing for another big boom after 2017.

The highly anticipated breakthrough came in late 2020, lasting until the following year. It helped the company gain a tremendous market share. They received $900 million in funding in July 2021 at a valuation of $18 billion.

FTX raised $400 million more from various investors including Softbank in 2022, valued at $32 billion. Their high profile allowed to them successfully bid for the naming rights to the Miami Heat’s arena in July.

However, all hell broke loose for the company in November of last year. Irregularities were found in its dealings about its main token – FTT. Within a week, the company had to file for bankruptcy.

Shaq, Tom Brady and Stephen Curry were among its top promoters during its short run. They’ve all been named in a class action lawsuit against FTX by investors using the platform.

Also Read – “I’m All-in!”: Amidst FTX’s 76% Plunge, $400 Million Worth Shaquille O’Neal’s ‘Bet’ on the Crypto Exchange Resurfaces

NBA Twitter makes fun of Shaquille O’Neal amidst FTX Lawsuit update

Forbes published an article yesterday which revealed that Shaquille O’Neal is suspected to be the lone defendant in the class action lawsuit who has yet to be legally served the suit.

The news outlet reports that O’Neal allegedly took cover in his big house to dodge the suit. It has led to some mixed reactions across Twitter.

Also Read – After Shaquille O’Neal’s $32 Billion FTX Debacle, Cade Cunningham’s “Bitcoin Bonus” Vanishes as $5 Billion Partner Firm Goes to 0 

The truth behind these reports can only be ascertained once Shaq’s camp responds to the news. However, it seems unlikely that the courts were unable to serve him, just on face value. O’Neal’s movements are well-documented as he’s a public figure.

How likely are these charges to stick on Shaq?

Shaq gave a statement in November that he was acting just as a paid promoter for the exchange. Before his tieup with the brand was revealed, Shaq had also openly questioned the crypto market boom, calling it ‘too good to be true’.

There are rumors that O’Neal and Naomi Osaka’s names will likely be dropped from the lawsuit. There is no substantial evidence backing this claim, however, except murmurs on Twitter.