After the fall of FTX, Kevin O’Leary, a well-known Canadian businessman, entrepreneur and television personality, revealed last Thursday in an interview with CNBC that lost the $15 million FTX had paid him to act as a spokesperson and promoter for the platformwhen it collapsed in November.
Strong rejection of Kevin O’Leary.
O’Leary’s statements were not well received by the community of crypto enthusiasts who did nothing but challenge him for his lack of diligence in assessing the risks associated with promoting FTX.
The CEO of Binance was also not far behind and expressed his rejection of the well-known television personality and investor Kevin O’Leary accusing him of promoting a scam in exchange for a few dollars. CZ wrote the following:
“It appears that $15 million not only changed Kevin O’leary’s mind on cryptocurrency, but also aligned him with a scammer. Are you seriously defending SBF?”
In response to all of this, O’Leary said that he had been a victim of groupthink and that none of his partners had lost any money in the fall of FTX. He also openly defended Bankman stating “If you want to say that he is guilty before he is tried, I don’t understand it. There is only the murder of my money in this case.”
Luxuries, marketing and false associations according to CZ.
Changpeng Zhao, who had been accused of delivering the final blow to FTX, wondered how O’Leary, known for his accurate assessments to detect discrepancies in many companies and known as “Mr Wonderful” for his extraordinary career as an investor, could fall for the FTX trap when it was more than clear that The exchange had been operating beyond its means all along, investing nearly $6 billion in various ventures, advertisements, luxury real estate, and massive political donations.
“You don’t have to be a genius to know something doesn’t smell right on FTX,” CZ said. “They were 1/10 our size, but they spent 100/1 more than us on marketing and “partnerships”, fancy parties in the Bahamas, world tours and mansions for all their senior staff (and their parents)”
According to CZ, all the expenses that led to the fall of FTX were financed by client funds. where large amounts of money were spent on marketing and advertising campaigns by big celebrities that were used to influence people. Despite all this Kevin O’Leary maintains his position and defends SBF expressing his innocence like the rest of the investors.
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