Despite being widely publicized, Kevin still believes in the future of the crypto coin industry after the fall of the FTX trading platform. Just recently, he said that he would start a new crypto exchange to fill up the vacuum that was left due to the fall of bankruptcy of this company and challenge the Binance.
The lead from the investment-focused TV program Shark Tank revealed in a recent Fox Business conversation, broadcasted on Nov 14, about the launch of a new crypto exchange called M2. It is set to debut in Abu Dhabi. He stated that M2 hopes to become the world’s biggest regulated platform of this type.
The age of the crypto cowboy – FTX and Binance – those days are over. There is the anticipated news that M2, the largest regulated exchange ever, will be made public in Abu Dhabi within ten days. It is backed by billions of dollars and is connected to major financial institutions.
According to O’Leary, although Americans cannot participate in registration, Binance will surely lose many accounts into the M2. He suggests users may move from the SEC lawsuit to a compliant platform with substantial backing and top financial institutions.
To cap it off, one of the famous private investors supported the recently bankrupt crypto market platform, FTX. The event exposed huge fraud, and the plot finally made an arrest and the criminal trials of Sam Bankman-Fried.
Kevin O’Leary’s Crypto Rollercoaster: FTX Losses, Binance Accusations, and Vocal Investments
In Dec 2022, O’Leary revealed that he lost millions due to his involvement with FTX. He and other high-profile supporters were criticized for lacking due diligence before promoting the exchange that paid them $15 million.
As he noted in testimony before the Senate Banking Committee on Dec 14, he had even gone so far as to accuse Binance of deliberately driving FTX out of business while asserting that the two were fighting before the situation blew up.
Kevin O’Leary is a Canadian businessman, investor, and television personality. He is best known for appearing on the reality TV show “Shark Tank” and as the founder of O’Leary Funds.
Kevin O’Leary has been vocal about his opinions and investments in the cryptocurrency world. He has invested in cryptocurrencies such as Bitcoin, Ethereum, Hedera, Polygon, Solana, and Serum. He also believes non-fungible tokens (NFTs) will be bigger than Bitcoin.
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