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Kevin O'Leary Takes Swipe At FTX, Binance While Lauding Launch Of New Crypto Exchange: 'This Is The End Of A Long Period Of Crypto Cowboyness'

Published 03/12/2023, 17:44
Updated 03/12/2023, 19:10
© Reuters.  Kevin O'Leary Takes Swipe At FTX, Binance While Lauding Launch Of New Crypto Exchange: 'This Is The End Of A Long Period Of Crypto Cowboyness'
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Benzinga - by Bibhu Pattnaik, Benzinga Staff Writer.

Last week, O'Shares Investment Advisors chairman and renowned "Shark Tank" investor Kevin O'Leary shared a video on Instagram endorsing new cryptocurrency exchange M2.

During the short video, which was filmed at M2's launch event in Abu Dhabi, UAE, O'Leary shared how M2 will become the most extensively regulated cryptocurrency exchange backed by substantial financial support from reputable institutions amounting to billions of dollars.

"You know whats happened lately in the crypto world. Not good things. All of the crypto cowboys have been wiped out by the regulators. So where is the new home of Bitcoin and every other digital currency? That's right. It's M2,” he said in the video.

He asserted that, due to the collapse of FTX and well-known issues surrounding Binance, all of the capital now needs to go through M2 in order to be compliant.

“I came here because I'm so interested in this. I've always thought the potential of digital currencies is huge. But it has to be compliant — it has to work within the financial system,” O’Leary said.

Also Read: Kevin O'Leary Predicts This New Regulatory-compliant Crypto Exchange Will Surpass Binance And FTX

“It is the beginning of something amazing ... I am going to invest in this exchange, 100%. To me, this is the end of a long period of crypto cowboyness,” O’Leary said, adding that he wanted to own "actual shares of this exchange."

He also said that M2 has a transparent ownership and is backed by some of the largest pools of capital in the world, including Phoenix Group and IHC.

Earlier, speaking exclusively with Benzinga, O’Leary mentioned that he is keen on the M2 Exchange.

“Abu Dhabi is the capital of capital, and I think something big is about to happen there,” O’Leary said. “I’m leaving soon for the launch of M2, and I think it will take up huge capital. I don’t know if you have a bigger [exchange] emerging that’s completely compliant."

Now Read: Why Kevin O'Leary Says A New Digital Economy Is Emerging

Photo: Shutterstock

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

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