Popular Shark Tank star Kevin O’Leary invites criticism for saying he would again support Sam Bankman-Fried aka SBF, the former CEO of the crashed crypto exchange FTX.
“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 O’Leary was asked if SBF knocked on his door again and asked for funds to back his new crypto venture, O’Leary replied: “The answer would be yes.”
Mr. Wonderful acknowledged that FTX was one of his bad investments, but that he is still safe because of the diversification of his holdings.
O’Leary has a stake in the FTX exchange and had agreed to serve as the ambassador and spokesperson for a couple of years. His pay was handled on the FTX platform and compensation was paid in cryptocurrency.
Also Read: Kevin O’Leary Become Long-Term Investment Partners Of The FTX
He stated in June that once a major player was eliminated in the cryptocurrency market, which he now believes was FTX, the market would likely reach its bottom.
The Shark Tank star intends to transfer all of his assets from unregulated exchanges to Bitbuy, a licensed Canadian exchange.
O’Leary continued by explaining how the next time, he would invest in Bankman-Fried “in a different context.”
The Shark Tank panelist clarified that SBF would have trading authority but “would not have operational control of the assets.”
The community became furious over O’Leary’s statements on how he can still back a fraudster like SBF who mishandled all user assets and is now hiding without taking any responsibility.
Also Read: All about FTX Crash and Chaotic turn of Events: Crypto Doom
Kevin O’Leary doesn’t seem like he even recognizes the seriousness of the situation with statements about SBF like “He was one of the most brilliant traders in the crypto universe. He also built one of the most robust platforms. We used FTX actively. It was a very robust platform that allowed us to get information on a compliant basis, so I really like what he built.”
With powerful people in the community like Kevin O’Leary still not resonating with the users’ feelings who lose their assets for merely trusting SBF and FTX, and even shamelessly saying he would still back SBF, we wonder who actually cares for transparency in this sector.
