Stephen Curry and Shaquille O’Neal’s $32 Billion Crypto Sponsors Set to Face Another Major Blow by Miami Heat


Shaquille O’Neal is one of the best players in the NBA. His 7-foot stature had an advantage over the opponents even before playing them. The 15-time All-Star earned an impressive $292 million in NBA salaries. But the most impressive thing is turning it into a fortune of $400 million. But one of his investments went south recently, as the company filed for bankruptcy, terminating many contracts with large organizations.

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The popular cryptocurrency company FTX recently filed for bankruptcy. He took many celebrity fortunes with him, including the NBA legend. Shaquille O’Neal and superstar Stephen Curry. This was followed by the termination of the contract with the Miami Heat.

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FTX reportedly lost the money of millions of customers and shareholders. The downward spiral is compared to the time of ‘Lehman Brothers’, drawing parallels to the Bank’s downfall in the 2008 financial crisis. FTX was once valued at an estimated $32 billion.

Shaquille O’Neal losing a fortune with FTX

FTX had many famous shareholders, some from the NBA world. Shaquille O’Neal and Stephen Curry they were the faces of the company that appeared in many FTX commercials. FTX’s ties to the NBA extend further when they purchased the arena naming rights from the Miami Heat in 2021. Unfortunately, that stops when the Heat decided to end their relationship with the former cryptocurrency giant.

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Miami Heat The home court was named ‘FTX arena’ in 2021 and will remain the same at least until Saturday’s match against charlotte hornetsas reported by Brian Windhorst of ESPN.

Stephen Curry linked his charity to the cryptocurrency giant, making him part of a bigger loss. Other celebrities and sports stars are also involved with the company, namely the former couple. tom brady and gisele bundchen, noemi osakaand Aaron Jones.

there were deals with washington wizards Y warriors of the golden state, adding to his existing NBA deals. The cryptocurrency company’s deals have extended to other sports as well, with deals underway in MLB and Formula One.

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WATCH THIS STORY: Middle-class mom called $400 million Shaquille O’Neal an mf who prompted a $40 million sacrifice of the 7-foot superhero

The crypto exchange giant also reportedly lost $1 billion in customer funds, adding to all the money already lost. CEO Samuel Bankman-Fried lost $13 billion as a result. When the company went bankrupt, he resigned.