Celebrity Investors Naomi Osaka and Shaquille O’Neal Smell Relief as $32 Billion Trouble to Be Waived Off

Published 03/11/2023, 5:48 AM EST

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Celebrity investors Naomi Osaka and Shaquille O’Neal have been granted some relief in the multi-billion class-action lawsuit filed by FTX investors. The former NBA superstar and tennis athlete had been named as a defendant in the lawsuit after the collapse of the cryptocurrency firm, FTX. However, a federal judge in Florida is now considering dismissing the names of Shaq and Osaka from the lawsuit.

In 2022, FTX announced Osaka as a global ambassador. As part of the deal, Osaka received an equity stake in the company as well as compensation in the form of cryptocurrency. She also helped create branded content and wore an “FTX” patch during her matches.

Naomi Osaka might see relief in the cryptocurrency lawsuit


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FTX’s fortunes soon took a turn for the worse with the collapse of the crypto trading company. This led to a class-action lawsuit being filed against the company and its investors. Along with Osaka and O’Neal, the lawsuit named several other high-profile investors, including Tom Brady, Stephen Curry, and Gisele Bundchen. While Brady, Curry, and Bundchen have yet to receive any relief in the lawsuit, Osaka and O’Neal may soon have cause to breathe a sigh of relief.

According to the Coin Telegraph, in a paperless order, U.S. District Judge Kevin Moore instructed the plaintiffs to provide the cause for why the two sports stars shouldn’t be dismissed from the suit. According to Moore, it is unclear whether Osaka and O’Neal have been served, and as such, the judge has given FTX customers until December to show cause.


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The news will undoubtedly come as a welcome relief to both Naomi Osaka and Shaquille O’Neal. Both renowned athletes have seen their reputations come under fire in recent months. The lawsuit has highlighted the risks of investing in the cryptocurrency market.

Osaka’s crypto dream shattered as losses loom for celebrity investors

Osaka has suffered a significant financial setback as a result of the bankruptcy of FTX. Osaka had joined forces with FTX in the hopes of promoting female involvement in the cryptocurrency industry. Unfortunately, the firm’s dire financial situation means that she is likely to lose a substantial amount of money. This wasn’t Osaka’s first foray into the world of cryptocurrency. She is also involved with an NFT platform co-founded by Tom Brady.


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WATCH THIS STORY: When Naomi Osaka Encountered Difficult Interaction With The Press 

It’s a tough pill to swallow for Osaka, who became the highest-paid WTA player in 2022. Fans await to see how the $32 billion worth FTX saga unfolds.



Dr Aditya Raveendran Menon

398 articles

Aditya Menon is a Tennis Author at EssentiallySports. He developed an unbridled love for tennis from the moment his father introduced him to the sport. Watching Roger Federer dominate the ATP tour with his unique and effortless style played a pivotal role in pushing Aditya to write about tennis for national publications.

Edited By: Tony Thomas