{"id":58978,"date":"2023-09-11T02:41:02","date_gmt":"2023-09-11T06:41:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=58978"},"modified":"2023-09-11T02:41:05","modified_gmt":"2023-09-11T06:41:05","slug":"ftx-to-reverse-payments-to-shaq-naomi-osaka-and-miami-heat","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ftx-to-reverse-payments-to-shaq-naomi-osaka-and-miami-heat\/","title":{"rendered":"FTX to Reverse Payments to Shaq, Naomi Osaka, and Miami Heat"},"content":{"rendered":"\n

FTX listed the millions <\/a>it paid to celebrities such as Shaquille O'Neal, Naomi Osaka, and others that it hopes to recover.<\/p>\n\n\n\n

\"FTX
FTX to Reverse Payments to Shaq, Naomi Osaka, and Miami Heat<\/figcaption><\/figure>\n\n\n\n

FTX is investigating whether it can recoup the millions of dollars paid to prominent athletes and sports teams that promoted the exchange before its bankruptcy filing in November.<\/p>\n\n\n\n

In a court filing of over 180 pages dated August 31, FTX's financial advisors provided a detailed inventory of prominent figures and businesses that the company paid as part of its marketing efforts to determine if they fall under the rules allowing bankrupt companies to reverse the payments.<\/p>\n\n\n\n

The list includes payments totaling $750,000 to former basketball player Shaquille O'Neal,\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> $300,000 to tennis pro Naomi Osaka, $270,000 to former baseball hero David Ortiz, and $200,000 to American football quarterback Trevor Lawrence.<\/p>\n\n\n\n
\"\"

Highlighted excerpt of payments FTX said its made to various athletes and professional sports teams. Source: Kroll<\/figcaption><\/figure>\n\n\n\n

Also included are payments totaling over $250,000 made to the Miami Heat<\/use><\/svg><\/span><\/a> and nearly $420,000 to the Golden State Warriors, both professional basketball teams.<\/p>\n\n\n\n

The filing cautioned, however, that the ultimate amount FTX may recover from the efforts “may vary materially from the amount reported.” Many of the celebrities named in FTX's recent filing have been sued by FTX users seeking damages in class action litigation.<\/p>\n\n\n\n

Groups of FTX customers have filed a lawsuit against O'Neal, Osaka, and the Golden State Warriors for allegedly promoting the exchange, which reportedly sold unregistered securities.<\/p>\n\n\n\n

The most recent lawsuit was filed on September 9 against cross-chain protocol LayerZero Labs to recover $21 million that FTX claims were fraudulently withdrawn before the exchange's bankruptcy filing in November of last year.<\/p>\n\n\n\n

In July, it filed a lawsuit against co-founder Sam Bankman-Fried<\/a> and other former senior executives, alleging that they misappropriated more than\u00a0$1 billion<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

FTX listed the millions it paid to celebrities such as Shaquille O’Neal, Naomi Osaka, and others that it hopes to recover. FTX is investigating whether it can recoup the millions of dollars paid to prominent athletes and sports teams that promoted the exchange before its bankruptcy filing in November. In a court filing of over […]<\/p>\n","protected":false},"author":53,"featured_media":51767,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,32],"tags":[5717,16384,8225,6459,5880],"class_list":["post-58978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-crypto-exchange-news","tag-ftx-2","tag-miami-heat","tag-naomi-osaka-2","tag-sam-bankman-fried","tag-sports-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/06\/FTX.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/58978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=58978"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/58978\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/51767"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=58978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=58978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=58978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}