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Investor from Shark Tank Kevin O'Leary spoke with Yahoo Finance Live on the most recent FTX issue. They talked about his perspective on SBF, his role in the financial crisis, and his future cryptocurrency intentions.
Kevin O’Leary Says FTX Should be Audited and Defends SBF
Kevin O'Leary had business accounts on FTX. He genuinely worked for the platform as a paid investor and evangelist. It's progressively becoming clearer what went wrong with the management that led to the FTX meltdown and the shaking of the cryptocurrency market last month. They allegedly combine customers' funds with Alameda Research, SBF's bitcoin trading branch. What are O'Learys' thoughts on the subject, then?
During the interview, O'Leary affirmed that he will get his money back from FTX. He continued by saying that the now-defunct bitcoin exchange has to be audited. To determine whether Sam Bankman-Fried has engaged in any misbehavior, this procedure is crucial. He proclaimed:
He continued, saying:
Even if FTX is currently in poor state, in O'Leary's opinion, it is still entirely auditable. Blockchain technology, which was created for financial transactions, will be used. When the audit is over, the truth will come out. They can then file a lawsuit against the violator. According to Kevin O'Leary, we shouldn't make illogical statements about SBF until we get the data.
Final Reflections
Unless and until found guilty, O'Leary asserted. This makes sense in theory. However, FTX has caused a lot of people to lose both their life and everything they had saved. Whether or when these people will recover is still a mystery. A miracle would be required to recover the funds. How are they going to hold off on waiting for a court ruling until the audit results are released? Ending it immediately away and looking for a better trade is the simplest way to close this chapter and move on.
Investor from Shark Tank Kevin O'Leary spoke with Yahoo Finance Live on the most recent FTX issue. They talked about his perspective on SBF, his role in the financial crisis, and his future cryptocurrency intentions.
Kevin O’Leary Says FTX Should be Audited and Defends SBF
Kevin O'Leary had business accounts on FTX. He genuinely worked for the platform as a paid investor and evangelist. It's progressively becoming clearer what went wrong with the management that led to the FTX meltdown and the shaking of the cryptocurrency market last month. They allegedly combine customers' funds with Alameda Research, SBF's bitcoin trading branch. What are O'Learys' thoughts on the subject, then?
During the interview, O'Leary affirmed that he will get his money back from FTX. He continued by saying that the now-defunct bitcoin exchange has to be audited. To determine whether Sam Bankman-Fried has engaged in any misbehavior, this procedure is crucial. He proclaimed:
He continued, saying:
Even if FTX is currently in poor state, in O'Leary's opinion, it is still entirely auditable. Blockchain technology, which was created for financial transactions, will be used. When the audit is over, the truth will come out. They can then file a lawsuit against the violator. According to Kevin O'Leary, we shouldn't make illogical statements about SBF until we get the data.
Final Reflections
Unless and until found guilty, O'Leary asserted. This makes sense in theory. However, FTX has caused a lot of people to lose both their life and everything they had saved. Whether or when these people will recover is still a mystery. A miracle would be required to recover the funds. How are they going to hold off on waiting for a court ruling until the audit results are released? Ending it immediately away and looking for a better trade is the simplest way to close this chapter and move on.
