Shark Tank’s Kevin O’Leary Addresses FTX Partnership, Says Blockchain Will Reveal Truth Behind Collapse
Shark Tank investor Kevin O’Leary breaks his silence about missing the red flags when it came to doing business with former FTX CEO Sam Bankman-Fried.
In a new interview on Stansberry Research, the celebrity businessman, who served as a spokesperson for the now-bankrupt crypto exchange, says he was surprised by the collapse of FTX, which occurred after traders pulled $6 billion worth of assets from the platform in just 72 hours .
“I don’t get it every time. I don’t. I have made thousands of investments, they are not all winners. All of us who have talked about this, all of us at the table, we have all talked to each other. We’re stunned, but we don’t have any answers yet, so I’d actually like to know how this went.”
O’Leary, who is facing a class-action lawsuit along with a number of other celebrities who promoted the beleaguered exchange, says the truth about what happened to FTX will be revealed during a legal battle.
“At the end of the day, it has to be the facts. The whole thing has to be driven by the truth, and we don’t have it yet, so I’d like to get the truth, that’s what I’m after…
In the course of that process, we arrive at the truth as litigation scrapes at the truth. That’s what’s going to happen. look, I’d rather not be involved in this, but it doesn’t change anything I do, and it doesn’t change my policy of transparency.”
According to O’Leary, blockchain data is what will shed light on the dissolution of the once prominent crypto exchange.
“The one unique thing about this situation versus other financial collapses and disasters and disasters, everything that happened here is on the blockchain. Every single transaction is recorded. You may not know who the wallet is, who owns it, or who stole it, whatever those claims are, but every single transaction will be found, so there’s no hiding it. It’s going to be clean.”
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