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The fact that Kevin O’Leary supports FTX’s SBF opens him up to criticism.

05/12/2022
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Kevin O’Leary, host of the popular television show “Shark Tank,” has opened himself up to criticism by stating that he would back Sam Bankman-Fried or SBF, the former CEO of the cryptocurrency exchange FTX, once again.

“You can love him or hate him given what’s happened, but I think we can all admit he was one of the most brilliant traders in the crypto universe,” Kevin O’Leary stated in an interview.

When asked whether SBF had knocked on his door again and requested for funding to help his new cryptocurrency endeavor, O’Leary’s response was “yes.”.

Mr. Wonderful admitted that FTX was one of his risky assets, but he is certain that he can weather any storm since he has sufficiently diversified his holdings.

O’Leary has a financial interest in the FTX exchange, and he had previously committed to acting as the organization’s ambassador and spokesman for a period of a few years. His compensation was issued via the FTX platform, which also managed his salary, and it was in bitcoin.

In June, he predicted that once a big participant in the cryptocurrency industry was removed, which he now thinks was FTX, the market will likely hit its bottom. He believes that this occurred in June.

The star of “Shark Tank” plans to move all of his assets from unregulated exchanges to Bitbuy, which is a legal cryptocurrency exchange located in Canada.

O’Leary went on to say that the next time he would invest in Bankman-Fried, he would do it “in a different environment.”

The participant on Shark Tank elucidated that while SBF would have trading rights, it “would not have operational management of the assets.”

O’Leary’s words on how he can still defend a fraudster like SBF who mismanaged all user assets and is now hiding without accepting any accountability infuriated the community, and they caused the community to get outraged with O’Leary.

Statements made by Kevin O’Leary on SBF, such as “He was one of the most talented traders in the crypto realm,” give the impression that he is not even aware of the gravity of the issue. In addition to that, he created one of the most sturdy platforms. We made extensive use of FTX. I think that what he constructed is pretty impressive since it was a highly solid platform that enabled us to obtain information in a compliant manner.

When influential members of the community like Kevin O’Leary continue to show a lack of empathy for users who lose their assets for doing nothing more than trusting SBF and FTX, and when O’Leary goes so far as to brazenly state that he would still support SBF, we are left to wonder who in this industry even cares about maintaining transparency.

Compiled by Coinbold

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