Kevin O’Leary Criticized Again For Saying He’ll Bring Back Ex-FTX CEO – Insists SBF Is A ‘Barrel’ Cryptocurrency – Featured Bitcoin News


Shark Tank star Kevin O’Leary, a.k.a. Mr. Wonderful, has said he will once again endorse Sam Bankman-Fried (SBF), the former CEO of collapsed cryptocurrency exchange FTX. “You can’t be serious,” many people told O’Leary, claiming that SBF was a fraud who had stolen billions from FTX customers.

Kevin O’Leary ignores fraud evidence, says he’ll back former FTX CEO Sam Bankman-Fried

Shark Tank star Kevin O’Leary shocked a lot of people on Tuesday’s Crypto Banter podcast when he said he would still support former CEO Sam Bankman-Fried (SBF) of collapsed cryptocurrency exchange FTX. Last week, the cryptocurrency company filed for Chapter 11 bankruptcy and Bankman-Fried stepped down as CEO.

O’Leary owns an equity stake in FTX and has signed a multi-year deal to be an ambassador and spokesperson for the cryptocurrency exchange. His compensation was paid in cryptocurrency and managed on the FTX platform.

“If SBF knocked on your door again and said, ‘Look, I failed my last venture, I have a new cryptocurrency, I need money,’ would you support him?” O’Leary was asked. He replied:

The answer would be yes.

The Shark Tank star described: “I think we can all agree that you can either love them or hate them, given what’s going on.” However, Mr. Wonderful added:

He was one of the brightest traders in the cryptocurrency world. It also built one of the most solid platforms. We actively used FTX. It was a very solid platform that allowed us to get data on a consistent basis, so I really like what he’s built.

O’Leary next detailed how he would invest in Bankman-Fried “in a different context.” The Shark Tank star explained that SBF “will not have operational control over the assets,” but it will have trading control. “Assuming you’re not personally involved in a bad situation, you’re going to find it somewhere else in crypto,” he said.

“I know all the players in the cryptocurrency market and I’m just telling you that there’s nobody like him… I’m telling you that Sam Bankman-Fried is an extraordinary 1%er in terms of understanding how these assets work.” It went on great.

Returning to the question of whether he would support the SBF in his next venture, O’Leary said:

If I could put it in a very straight vertical on my team, where there is no ability to move assets but have the ability to trade them, yes I would.

Many people disagreed with O’Leary, who called Bankman-Fried a fraud

O’Leary’s comments left the crypto community in disbelief. Many people took to Twitter to criticize the Shark Tank star. One Twitter user wrote: “Sam pulled one of the biggest scams in history. Another reminded O’Leary that SBF defrauded his FTX clients and stole billions from them.

Will Clemente, co-founder of Reflexivity Research, wrote: “Unbelievable. Kevin O’Leary said he would support the SBF again [that] he was a ‘great merchant’. Kevin, do you realize that he trades against his own clients and throws the accumulated tokens at his own clients? You can’t be serious.”

Crypto lawyer John E. Deaton emphasized: “SBF did not fail in its latest venture. What happened to Kevin O’Leary? He emphasized:

He did not fail, so much so, sir. Awesome. He lied. He was deceived. He was deceived. He did insider trading and stole people’s money. O’Leary had the audacity to criticize Brian Armstrong, but he will back the SBF again. My God.

Ripple CTO David “JoelKatz” Schwartz said: “I can forgive people for being deceived when others are being deceived, but I can’t forgive people for being willfully blind to overwhelming evidence.”

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What do you think of Kevin O’Leary saying he’ll back Sam Bankman-Fried again? Let us know in the comment section below.

Kevin Helms

Kevin, an Austrian Economics student, discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

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