Reportedly, stakeholders linked to FTX might cancel their lawsuit against the individual Sam Bankman-Fried (SBF) under one condition - he aids in legal action against renowned personalities who endorsed FTX ventures. In a suggestion for resolving this issue, Bankman-Fried would offer crucial information against figures like Tom Brady, Shaquille O’Neal, and Gisele Bundchen who stand accused of promoting what's labeled a Ponzi scheme.

This proposed settlement would necessitate Bankman-Fried's disclosure of operational details pertaining to FTX and its subsidiaries, encompassing data regarding venture capital supporters and legal consultants. He would further be required to submit documents connected to his investments alongside an affidavit verifying his adverse financial standing. The outcome of these revelations would ideally result in the dismissal of all existing and forthcoming allegations against him. However, the endorsement of this settlement proposal remains pending the court’s approval, forming a fragment of the broader consolidation of various litigations targeting FTX promoters presently under examination in the Southern District of Florida.

In the past, a subset of celebrities implicated in this matter had endeavored to absolve themselves of the accusations. Worth noting is the distinction between this legal quandary and Bankman-Fried's independent criminal case, culminating in a 24-year prison sentence in March 2023 following a conviction in November 2023. This unfolding narrative conveys the intricate legal dilemmas arising from the FTX downfall, potentially affecting both the spotlighted celebrities and the wider cryptocurrency sphere.