--- title: "Shaq Says It’s Not His Fault He Accidentally Shilled for FTX" description: "NBA legend Shaquille O'Neal is in damage control mode after appearing in a TV ad for the since-collapsed cryptocurrency exchange FTX." date: "2022-12-17" modified: "2022-12-17" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/shaq-not-his-fault-ftx" categories: - "Blockchain" - "Future Society" tags: - "celebrities" - "cryptocurrency exchanges" - "ftx" - "the digest" --- # Shaq Says It’s Not His Fault He Accidentally Shilled for FTX ![NBA legend Shaquille O'Neal is in damage control mode after appearing in a TV ad for the since-collapsed cryptocurrency exchange FTX.]() *\Image: Amy Sussman/Getty Images\* ## Big Ballers NBA legend Shaquille O'Neal is in damage control mode as attention focuses to a TV ad in which he strongly endorsed the crypto exchange FTX, which collapsed last month along with billions in customers' money. O'Neal was called out in a [recent class-action lawsuit]() against the company, after being featured in a commercial that aired back in June. "I'm all in," O'Neal [said in the ad](). "Are you?" The lawsuit also named several other big-name celebrities, including [Stephen Curry](), fashion model Gisele Bundchen and her ex-husband the NFL star [Tom Brady](), accusing them of participating in a plot to "aggressively market" the company. Now, celebs are desperately trying to clear their names. ## Nobody's Perfect O'Neal maintains he only agreed to do the ad after his friend Curry told him to. "A lot of people think I’m involved, but I was just a paid spokesperson for a commercial," the 7-foot-1 former pro [told *CNBC*](). Even more confusingly, O'Neal [told *CNBC*]() in September 2021 that he doesn't "understand \[crypto\], so I will probably stay away." His FTX commercial ran in June of this year. "From my experience, it is too good to be true," he said at the time, [telling the media]() that he had already declined other offers from various crypto companies. ## Scam Ad It's no wonder the celebrities named in the lawsuit are trying to distance themselves from FTX. The exchange collapsed in spectacular fashion last month, wiping out a $32 billion valuation in a matter of days. Its former CEO Sam Bankman-Fried [was arrested]() earlier this week by Bahamian authorities and is facing some serious criminal charges. O'Neal's claims bring up an interesting question: are celebrities really guilty of shilling what later turned out to be a massive scam? Legally, they may well be able to weasel out of culpability. But ethically, encouraging poorly informed and less wealthy retail investors to take on financial risk is profoundly dubious. **READ MORE:** [Shaq distances himself from crypto and FTX collapse: ‘I was just a paid spokesperson’]() \[*CNBC*\] **More on the saga:** *[Behind the Lawsuit Against Celebs Who Shilled FTX Before Its Spectacular Meltdown]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()