Investing.com UK - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Shark Tank Host Kevin O'Leary Warns Crypto Exchanges Will Keep 'Going To Zero' Unless This Happens

Published 24/02/2023, 11:36
© Reuters. Shark Tank Host Kevin O'Leary Warns Crypto Exchanges Will Keep 'Going To Zero' Unless This Happens
CRCW
-

Benzinga - Shark Tank host Kevin O'Leary said that the only way crypto exchanges will stay afloat is by imposing regulations.

What Happened: O’Leary tweeted on Friday, “We’re going to keep seeing these crypto exchanges going to ZERO, until we actually force regulation on these guys.”

See More: Top Indian Apps That Give Bitcoin, NFT Rewards

Last week, O’Leary joined Trader TV’s live stream for an interview and said that regulations, including “massive fines,” are deterring prospective crypto investors.

Earlier this month, the SEC ordered Kraken, a prominent crypto exchange, to shut down its staking program and pay a fine of $30 million.

This sends a message to investors that regulators are “cracking down” on crypto companies, making investments less attractive, O'Leary said.

"These senators are really — they're fatigued, they're really tired of gathering every six months when the next crypto company blows up and goes to zero,” O’Leary said.

“And the regulators are being applauded on by the senators and the congressmen and women who are saying, what is this? We've had enough of this stuff."

Read Next: Bitcoin, Ethereum, Dogecoin Mixed On Fed Anxieties: Analyst Thinks Wall Street Risk Aversion Could Revive Apex Crypto

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.