VC investors leave crypto, says Kevin O'Leary

According to Shark tank star Kevin O’Leary, risk capital funds flee from crypto, since the supervisory authorities pull their loops closer to the industry in a post-ftx resort. The investor claimed on Monday that VC financing was now geared towards artificial intelligence. Why regulatory authorities are crazy during an interview on Twitter, O’Leary described his experience in participating in various Capitol Hill lists in connection with the collapse of FTX and the interaction with the politicians involved. "These senators - they are tired," said O’Leary. "You are really fed up with gathering every six months when the next crypto company explodes and goes to zero." In ...

21. Februar 2023

Krypto News Österreich

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According to Shark tank star Kevin O’leary, risk capital money flee from crypto, since the supervisory authorities pull their loops closer to the industry.

The investor claimed on Monday that VC financing was now geared towards artificial intelligence.

Why regulatory authorities are crazy

during a Interview on Twitter, O’Leary described his experience in participating in various capitol Hill hearing in connection with the collapse of FTX and the interaction with the politicians involved.

"These senators-they are tired," said O’Leary. "You are really fed up with gathering every six months when the next crypto company explodes and goes to zero."

In the past 12 months there has been no lack of explosions in the crypto industry. After an euphoric year 2021, the restrictive monetary policy culminated the following year in massive price losses in crypto-assets, which led to mass layoffs and an avalanche of bankruptcy of large companies.

These bankruptcies, which were probably triggered by the collapse of Terra in May, reached a highlight when the FTX empire of Sam Bankman Fried broke apart in November and took over. Genesis and others with him.

Part of the collapse of FTX threw a light on the fallability of the companies he and similar companies such as z ftt . "They are completely unregulated and continue to spend tokens that are worthless," continued O’Leary.

In view of the circumstances, O’Leary is not surprised by the hostility of the Securities and Exchange Commission (SEC) compared to crypto in the past few weeks. The agency punishes octopus $ 40 million at the beginning of this month because it had not registered its staking service, while it was published a Wells message against Paxos because of its Busd stable issue days later.

venture financing for new #KRYPTO Projects is practically dead and the aftermarket trade for existing projects is associated with massive discounts. Reason? The #is now being regulated by enforcement, punishment and massive fines. The venture community has passed to the next "big" thing, pic.twitter.com/chpjyiy9dl

- Kevin O’Leary alias Mr. Wonderful (@Kevinolearytv) 20. February 2023

is regulation good?

While paxos and others-such as z coin base -defend itself against the strict enforcement of the seconds, O’Leary sees the hard resort as good for his wallet. The investor has a Canadian crypto exchange called Wonderfi from which he believes that these events will benefit among other regulated companies.

"You have to get into the regulation ... you have to avoid Gensler at the second," he said. "FTX has put the bear, the bear is awake and it is angry."

o’leary has long supported supporters of the regulation, where they insist that companies with a long-standing grotto against the SEC, as grayscale Fight agency.