US court dismisses allegation that O'Neal is Astrals' controller

BlockBeats news, on August 19, according to court documents filed on Friday, the US court made a partial support and a partial dismissal of the class action lawsuit filed by legendary basketball player O'Neal for his role in the NFT project Astrals.

Astrals is a project involving 10,000 NFT3D avatars and a decentralized autonomous organization (DAO) designed to "incubate innovative projects." The case accuses O'Neal of acting as a spokesperson for Astrals, encouraging investors to "hurry up and join the wave before it's too late." Even when the cryptocurrency exchange FTX collapsed in November 2022, O'Neal sent a GIF of The Wolf of Wall Street on the community message board Discord, writing "I'm not leaving."

The lawsuit alleges that O'Neal fled the project after that, causing the value of Astrals' financial products to plummet. The court dismissed the allegation that O'Neill was a "controlling person," meaning he did not exercise actual power, but the other charges stand and he will need to defend against them.