NBA Legend Shaquille O'Neal Sued in Class Action Lawsuit Over Astrals NFT
Shaq Sued For Astrals NFT The lawsuit, filed in Florida federal court, claims that O’Neal promoted the tokens despite being aware of potential regulatory issues surrounding the sale of unregistered crypto securities. The suit includes several celebrity defendants, including founder Sam Bankman-Fried and other stars who endorsed the platform. advertisement The complaint argues that Astrals NFTs needs to meet the criteria for being considered securities and will be evaluated under the Howey Test, a standard for determining investment contracts. Shaq also served in FTX Lawsuit.. O’Neal launched the Astrals Project in 2022, collaborating with his music manager, Brian Bayati, and his son, Myles O’Neal. The project aimed to encourage investment in a virtual world where users could interact with unique avatars traded through a marketplace. Recommended Articles Crypto ...