NBA great Shaquille O’Neal endorses numerous brands and companies. With the amount of fan following and reach Shaq has, he has always been an attraction to such organizations. And one of them was FTX, the cryptocurrency exchange. However, the company has since then filed for bankruptcy. And Shaq pinned the reason on Stephen Curry for being a part of it. 

FTX was the second-largest cryptocurrency exchange in a short window of time. But now that the company has declared bankruptcy and the owner is facing multiple charges, Shaq has taken a step back from their promotion.

Shaquille O’Neal distances himself from FTX

Shaquille O’Neal was named in the class-action lawsuit against FTX for a commercial he did for the company back in June. And since the company went under, the Big Diesel has made it clear that he was just another celebrity the company hired for an advertisement. 

Shaquille O’Neal gave a statement recently saying, “A lot of people think I’m involved, but I was just a paid spokesperson for a commercial.” The lawsuit in which Shaq was named stated that the spokesperson for the company had a part in making the company “aggressively marketable”.

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Other celebrities who appeared in various FTX advertisements were Stephen Curry, Tom Brady, and Larry David. These three were also named in the lawsuit. And now the Texas state is separately investigating celebrity endorsers of FTX to see if they were involved.

When asked what made Shaq do an appearance for FTX. He admitted that it was his close relationship with the Golden State Warriors point guard that made him consent to make an appearance in an advertisement for FTX.

Tom Brady loses a huge amount after investing in FTX

NFL legend Tom Brady may have been just another paid celebrity for the company. But on the other hand, he also had a 0.14% share in the company. So, to sum it up, Brady lost about $45 million after the company went under.

Being the second-largest cryptocurrency exchange, FTX lost 80% of its overall value in a matter of days. So, it wasn’t just Tom Brady who lost a lot of money. The company reported a loss of $152 billion.

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What do you make of Shaq’s comments following the downfall of FTX? Let us know in the comments below.