FTX seeks to reverse payments made to Shaq, Naomi Osaka and Miami Heat

Insolvent crypto exchange FTX is penetrating if it can recover the millions of dollars paid to celebrity professional athletes and sports teams that promoted the exchange before it declared bankruptcy last November.In an over 180 page Aug. 31 court filing, FTXs monetary advisors set out a detailed list of high-profile figures and services it paid in its marketing efforts to see if theyre under rules enabling bankrupt business to reverse the payments.The list includes $750,000 made to former basketball professional Shaquille ONeal, over $300,000 to Tennis professional Naomi Osaka, over $270,000 to previous baseball star David Ortiz and over $200,000 to American football quarterback Trevor Lawrence.Highlighted excerpt of payments FTX stated its made to different athletes and professional sports groups. Source: KrollAlso included are nearly $420,000 made to professional basketball team the Golden State Warriors and over $250,000 in different payments to Miami Heat.The filing warned, however, that the final amount FTX might recover from the efforts “may vary materially from the quantity reported.” Related: Apple protects rights to book on Sam Bankman-Fried for $5M: ReportMany of the celebs called in FTXs current filing have actually dealt with class action suits from FTX users seeking damages.O Neal, Osaka and the Golden State Warriors have been taken legal action against by groups of FTX consumers over supposedly promoting the exchange– which they declare offered unregistered securities.The exchange has actually launched a series of lawsuits to attempt recuperate funds with the most current on Sep. 9 versus cross-chain protocol LayerZero Labs in a quote to claw back $21 million that FTX alleged was unlawfully withdrawn prior to the exchanges personal bankruptcy in November last year.In July it sued co-founder Sam Bankman-Fried and other former leading executives to attempt to recuperate more than $1 billion in funds they allegedly misappropriated.Magazine: How to secure your crypto in an unpredictable market– Bitcoin OGs and experts weigh in