- 1 Kevin O’Leary says crypto is like a “radioactive waste” for institutional investors after SEC’s severe action against exchanges.
- 2 The Canadian venture capitalist invested in 100+ companies, including Apple Inc. and Pfizer Inc.
Kevin O’Leary is a venture capitalist and co-host of the television program ‘Shark Tank.’ As per Leary, crypto is a “radioactive waste” for institutional investors till the giants of crypto agree with the Securities and Exchange Commission.
SEC’s crackdown on major crypto exchanges may have spurred further pessimism regarding the industry among investors. Leary is an influential and
During an interview with a media outlet, a multi-billionaire noted, “I have talked to numerous venture capitalists and institutional investors; in reply, they all said the recent action of SEC has made this asset class radioactive waste and will not think to invest until things are resolved.”
The Securities and Exchange Commission sued Coinbase on June 6, for violation of securities laws by selling unregistered securities and operating as an unregistered securities exchange. It is important to note that the SEC declared some cryptocurrencies as securities late Wednesday.
He further quoted, “The situation of Coinbase is domestically interesting for them because the war between SEC and exchange is quite old, and as an investor, I think that it’s a good time to down the olive branches.”
As per Leary, “Gary Gensler of SEC has a clever vision to make Bitcoin a security and regulate where it’s traded like on a broker-dealer exchange.” He added, “The currency Chief Executive Officer of Coinbase be changed by someone willing to work things out.”
“You could get a trillion dollars worth of assets for an allocation of just 3% in sovereign wealth. You could open the spigots, make this industry take off, and own it domestically. But read the tea leaves, the room, and Gensler’s lips.”
Contributions and Participations of Kevin O’ Leary
Crunchbase data states that Kevin O’Leary has invested in dozens of companies. Some of his leading investments are Roq Innovation, Polygon, HelloPrenup, Songlorious, WonderFi(EXIT), MindMed, Monti Kids, LovePop, and Breathometer.
Kevin O’Leary founded O’Leary Fines Wines and served as Chief Sommelier for the firm. He co-founded Beanstox and is Chairman of O’Shares Investments and Strategic Advisor of StartEngine.
Some recent data also revealed that Kevin participated in the Pre Seed Round of Roq Innovation and became the lead investor. Some of Kevin’s most profitable investments are Apple Inc, McDonald T. Rowe Price Group, Inc., Pfizer Inc, including numerous other giant companies.
Following FTX’s collapse, the investor said he had a telephonic conversation with the bankrupt crypto exchange FTX’s co-founder and CEO Sam Bankman-Fried. Just a few days before the FTX collapsed, rumors about their bulk sellout of FTT tokens were flying around, causing a further decline in value.
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.