According to FoxNews, former U.S. President Donald Trump, speaking at Coinbase's State of Crypto Summit, stated his administration would work to create "clear and simple market frameworks" to ensure America can "dominate the future of crypto and bitcoin (BTC)." He reiterated his intention to end the current administration's perceived "war on crypto" and mentioned support for legislation like the GENIUS Act for stablecoins. This pro-crypto stance could signal a more favorable regulatory environment for digital assets if he is re-elected. In separate news, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement in a class-action lawsuit over his promotion of the collapsed crypto exchange FTX. The settlement, which awaits approval, would resolve claims from investors who allege they were misled by his endorsement, marking another development in the legal fallout from the FTX failure.

According to @FoxNews, NBA legend Shaquille O’Neal has agreed to pay $1.8 million to settle a class-action lawsuit filed by investors of the collapsed cryptocurrency exchange FTX. The lawsuit alleged O'Neal misled investors by promoting the platform. This settlement amount is significantly higher than the reported $750,000 O'Neal received for the endorsement. For traders, this case underscores the increasing legal scrutiny and financial risks for celebrities promoting crypto assets, potentially impacting investor trust in similar endorsements. The settlement, if approved, will release O'Neal from future claims without an admission of wrongdoing, marking another chapter in the fallout from the FTX collapse, whose founder Sam Bankman-Fried was sentenced to 25 years in prison.