Fun

Kevin O’Leary Slammed for Saying He’d Back Former FTX CEO Again — Insists SBF Is a ‘Brilliant’ Crypto Trader

News Feed - 2022-11-17 11:11:07

Kevin O"Leary Slammed for Saying He"d Back Former FTX CEO Again — Insists SBF Is a "Brilliant" Crypto Trader


Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says that he would again back Sam Bankman-Fried (SBF), the former CEO of the collapsed crypto exchange FTX. “You can’t be serious,” many people told O’Leary, alleging that SBF is a fraud who stole billions from FTX customers. Kevin O’Leary Ignores Evidence of Fraud, Says He’d Back ex-FTX CEO Sam Bankman-Fried Again


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


O’Leary has an equity stake in FTX and has signed a multiyear deal to become the crypto exchange’s ambassador and spokesperson. His compensation was paid in crypto and managed on the FTX platform.


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


The Shark Tank star described: “I think we can all admit you can love them or hate them given what’s happened.” However, Mr. Wonderful added: He was one of the most brilliant traders in the crypto universe. He also built one of the most robust platforms. We used FTX actively. It was a very robust platform that allowed us to get information on a compliant basis, so I really like what he built.


O’Leary proceeded to detail how he would invest in Bankman-Fried “in a different context” next time. The Shark Tank star explained that SBF “would not have operational control of the assets” but he would have trading control. “You’re going to find, assuming he doesn’t get involved in a bad situation somehow personally, that he will be found somewhere else in crypto,” he added.


“I know all the players in the crypto market and I’m just telling you there’s nobody quite like him … I’m telling you Sam Bankman-Fried is an unusual 1% person in terms of understanding how these assets work,” Mr. Wonderful continued.


Circling back to the question about whether he would back SBF in his next venture, O’Leary said: If I could put him on my team in a very straight vertical where he doen’t have the ability to move assets around but has the ability to trade them, yeah I would. Many People Disagree With O’Leary, Calling Bankman-Fried a Fraud


O’Leary’s comments left the crypto community in disbelief. Many people took to Twitter to slam the Shark Tank star. “Sam committed one of the largest frauds in history,” one Twitter user wrote. Another reminded O’Leary that SBF scammed his FTX customers and stole billions from them.


Will Clemente, co-founder of Reflexivity Research, wrote: “Unbelievable. Kevin O’Leary says he would back SBF again and [that] he was a ‘great trader.’ Kevin, you do realize he was front-running and counter-trading his own customers and dumping accumulated tokens on his own customers? You cannot be serious.”


Crypto lawyer John E. Deaton stressed: “SBF did not fail in his last venture. What is wrong with Kevin O’Leary.” He emphasized: He didn’t fail not-so-Mr. Wonderfull. He lied. Cheated. Deceived. Committed insider-trading and stole people’s money. O’Leary had the audacity to criticize Brian Armstrong but he would back SBF again. My God.


Ripple CTO David “JoelKatz” Schwartz opined: “I can forgive people for getting fooled when others were fooled too, but I cannot forgive people for being willfully blind to overwhelming evidence.” Tags in this story brilliant trader, ftx, kevin o"leary, kevin o"leary FTX, Kevin O’Leary crypto exchange FTX, Kevin O’Leary defends SBF, Kevin O’Leary fraud, Kevin O’Leary Sam Bankman-Fried, Kevin O’Leary SBF, Kevin O’Leary SBF fraud, Sam Bankman-Fried, Sam Bankman-Fried FTX, sbf fraud


What do you think about Kevin O’Leary saying that he would back Sam Bankman-Fried again? Let us know in the comments section below. Kevin Helms


A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography. Investment Firm Paradigm Still Optimistic About Crypto — Says "Issues at FTX Are Precisely Ones Defi Can Solve" FEATURED | 3 hours ago Berkshire"s Charlie Munger Likes the Fed, Hates Bitcoin Promoters, Calls Tesla"s Success a Miracle FEATURED | 5 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleRobert Kiyosaki Says Bitcoin Isn’t the Problem — Calls Former FTX CEO the ‘Bernie Madoff of Crypto’ Next articleBerkshire’s Charlie Munger Likes the Fed, Hates Bitcoin Promoters, Calls Tesla’s Success a Miracle Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales FBI Issues Alert Concerning Malicious State-Sponsored North Korean Hackers Targeting Crypto Firms Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher

News Feed

ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound ‘Crucially Depends on How the Conflict Evolves’
ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound "Crucially Depends on How the Conflict Evolves" After the inflation rate in the eurozone reached a high of 7
As Halving Interest Grows, Spectators Discuss Miner Hoards and Capitulation
As Halving Interest Grows, Spectators Discuss Miner Hoards and Capitulation Recently, cryptocurrency advocates have been discussing the upcoming halvings set to happen on the BTC
Bitcoin Price Fails To Launch With $751 Million In Outflows, Are Institutions Cashing Out?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Biggest Movers: SHIB 20% Higher, as DOGE Hits 5-Month High
Biggest Movers: SHIB 20% Higher, as DOGE Hits 5-Month High Meme coins were trading significantly higher on Saturday, as both shiba inu and dogecoin rose by over 20%. Shiba inu rall
Europe’s largest banks are moving into crypto thanks to regulations — Bitpanda
Zoltan Vardai13 hours agoEurope’s largest banks are moving into crypto thanks to regulations — BitpandaSome of Europe’s largest banks are developing crypto solutions thanks to the regulatory clarity provided by the
Bitcoin fees crash after record daily average of $128 on halving day
Brayden Lindrea7 hours agoBitcoin fees crash after record daily average of $128 on halving dayThe surge in block fees on the halving day was more than making up for the halved block subsidy miners were hit with — but t
Bitcoin’s daily transactions reach new record high
Zoltan Vardai11 hours agoBitcoin’s daily transactions reach new record highThe Bitcoin network surpassed 926,000 daily transactions, driven by a growing interest in Runes.2997 Total views8 Total sharesNewsOwn this piec
Bitcoin Balances on Exchanges Are Draining, Leading Platforms See $10 Billion in BTC Withdrawn in 4 Months
Bitcoin Balances on Exchanges Are Draining, Leading Platforms See $10 Billion in BTC Withdrawn in 4 Months Bitcoin prices have regained momentum during the last
Sports Illustrated moves NFT ticketing platform to Avalanche
Ezra Reguerra14 hours agoSports Illustrated moves NFT ticketing platform to AvalancheSI Tickets CEO David Lane explained that while normal tickets end up in the trash, NFT tickets could bring more experiences to holders
Brayden Lindrea5 hours agoSEC’s first deadlines to approve 7 Bitcoin ETFs coming over the next weekAnalysts say the best-case scenario for crypto is that the Securities and Exchange Commission approves the batch of spo
Biggest Movers: QNT Hits 6-Month High, ATOM Falls to 20-Day Low
Biggest Movers: QNT Hits 6-Month High, ATOM Falls to 20-Day Low While crypto markets were mostly lower on Wednesday, quant rallied to a six-month high earlier in the day. Today
Proposed Ethereum PoW Fork Token Loses Half Its Market Value in Less Than 6 Days
Proposed Ethereum PoW Fork Token Loses Half Its Market Value in Less Than 6 Days In 32 days, Ethereum is expected to upgrade from a proof-of-work (PoW) consensus algorithm to a pro