Kevin O’Leary reveals that FTX paid him $15 million

Kevin O’Leary of Shark Tank claimed that FTX paid him $15 million to function the crypto change’s spokesperson. One of many few well-known individuals who was sued by FTX shareholders and misplaced their stake within the firm was Kevin O’Leary. A number of others are Larry David, Tom Brady, Gisele Bundchen, Shaquille O’Neal, and Stephen Curry.

They had been named in a category motion lawsuit accusing FTX and its “model ambassadors” of deceptive customers into making investments within the enterprise.


The Shark Tank superstar additionally disclosed that the chapter safety course of had rendered his over $1 million in FTX fairness nugatory. Moreover, Mr. Fantastic added that the remaining $4 million or so was allegedly consumed by taxes and agent charges.

He conceded: It was not a superb funding.

Kevin O’Leary described Bankman-Fried as probably the greatest merchants

On November 11, FTX declared chapter, and Sam Bankman-Fried (SBF) left his place as CEO. The enterprise is at present underneath investigation for improper dealing with of buyer cash. “By no means in my profession have I seen such a whole failure of company controls and such a whole absence of reliable monetary data as occurred right here,” FTX’s new CEO John Ray informed the chapter court docket.

O’Leary has asserted that Bankman-Fried is without doubt one of the finest merchants within the cryptocurrency area. Nonetheless, regardless of saying that he misplaced thousands and thousands of {dollars} within the FTX collapse. Even so, if he began a brand new enterprise, he would assist him as soon as extra. For the reason that majority of individuals suppose that Bankman-Fried is a fraud and a conman, this has shocked the cryptocurrency business. The FTX collapse has been in contrast by some to Bernie Madoff’s Ponzi scheme.

In response to Bankman-Fried, he didn’t deliberately commit fraud. Invoice Ackman, a multibillionaire hedge fund supervisor, expressed the same perception that SBF was telling the reality to O’Leary. Moreover, O’Leary, simply earlier than FTX collapsed and needed to file for chapter, he got here near securing.

Additionally Learn: Shark Tank Kevin O’Leary Make A U Flip On FTX And SBF



CoinGape contains an skilled group of native content material writers and editors working around the clock to cowl information globally and current information as a reality slightly than an opinion. CoinGape writers and reporters contributed to this text.

The introduced content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button