The lack of regulations will trigger further crypto-meltdowns, forecasts Kevin O'Leary

The lack of regulations will trigger further crypto-meltdowns, forecasts Kevin O'Leary

Kevin O’Leary-A popular Canadian investor and moderator of the TV show Shark Tank-believes that the unregulated cryptocurrency environment will cause the collapse of other companies.

However, he remains a supporter of the industry and admits that he has invested 5 % of his assets in Bitcoin.

Future problems seem inevitable

in a recent Interview Preserver-Spaces = "True"> for kitco news forecast O’Leary that the downfall of the FTX does not certainly not have the last such event in the area of Will be cryptocurrencies. He claimed that some of the "non -regulated stock exchanges" hesitated to work with an auditing company in order to present precise liquidity details of what the institutes had suppressed:

"If you ask me if there will be another meltdown to zero? Absolutely. It will happen 100 % and it will happen over and over again."

Kevin O’Leary, CNBC

Remember that the auditing company Mazars Group (whose former customers were Binance and Crypto.com) recently

"To be honest, you know, because of the unregulated cowboy environment, it is very difficult to find an auditor that wants to touch this stuff.

Despite his concerns about trading places, O’Leary remains an enthusiastic supporter of the digital-asset industry, especially Bitcoin. He admitted that he had recently bought BTC amounts, while his allocation is a total of 5 % of his assets.

O’Leary and FTX

The entrepreneur was one of the greatest supporters of FTX before the fall of the stock exchange. He served as his ambassador, for whom he colored a $ 15 million agreement. O’Leary also explains in October last year (a few weeks before the notorious crash) that the platform was one of the safest locations for investors.

In addition, the Canadian has 139,000 parent shares in class A and 12,631 preferred shares in Serie A from West Realm Shires (the company that controls FTX us), while its investment company-O’Leary Ventures-25.944 Series B-1 has Preferences of FTX Trading.

since then he has lost all of these remedies, but preserver-spaces = "true"> rejected to classify Sam Bankman-Fried (the former CEO of ftx) as a fraudster.

The Bahama authorities recently cooperated with their US colleagues to deport the 30-year-old American home. A New York federal judge allows his release after a record of $ 250 million, and currently lives SBF in the house of his parents.

He recently noticed not guilty in several charges, including money laundering and transfer fraud. His negotiation date is Set for early October.

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