Kevin O’Leary, star of the US Shark Tank program, joined the Squawk Box program this Thursday (8) and revealed that he lost US$9.7 million (R$50 million) in cryptocurrencies held on his FTX account were.
Although the amount is terrifying, the investor says he has lost even more money. That is, O’Leary reveals that he lost another million dollars that he invested directly in FTX, and also did not receive a payment of $15 million, which he was promised for promoting the brokerage.
Moreover, O’Leary, along with other celebrities, has also been indicted for his involvement in Sam Bankman-Fried’s real estate business.
Anyway, the investor seems calm. In addition to acknowledging that this “not a good investment”noticed that too “it does not always yield good investments”🇧🇷 In another passage, he also points out that he owes no money to third parties, which is a relief to him.
American Shark Tank star loses millions in FTX bankruptcy
Celebrity investor, Kevin O’Leary, says he was initially skeptical about cryptocurrencies. However, with the changing world, it was decided to enter this market and invest in companies as well as directly in cryptocurrencies.
However, the investor made the mistake of leaving his cryptocurrencies in the FTX, resulting in the total loss of his savings. Speaking on the Squawk Box program this Thursday (8), he revealed the lost values.
“I have put about US$9.7 million (R$50 million) into cryptocurrencies. I think I missed that. It’s all cleared up.’
“I don’t know [os valores exatos] because my account was canceled a few weeks ago. All data, all currencies, everything [foi apagado]🇧🇷 continued the Shark Tank star.
After this, he also says that he invested in FTX after seeing the high institutional demand for the platform.
“The number of people approaching me asking ‘how do I get a share of this company’… And I said at the time, ‘I’m a paid spokesperson, I can’t bring you into this company'”Kevin O’Leary recalls. “Not a single dollar I’ve lost belongs to anyone else. That’s important to me.”
In retrospect, he reveals that the deal was worth $15 million, about R$78 million in direct conversion. “I bet anything”revealed O’Leary, citing that he spent money on agents in addition to $1 million in direct investment in FTX.
“Then I also lost the money invested in stocks, they also went to zero. It was not a good investment Andrew, I don’t always make big investments. Hopefully I make more good than bad, but this one was bad.🇧🇷
“The institutional interest in FTX on the US stocks has been incredible. Not a single dollar I lost was anyone else’s money but mine,” says @kevinolearytv🇧🇷 “I put about $9.7 million in crypto. I think I lost that. I’m completely at zero. It wasn’t a good investment.” pic.twitter.com/RDj2hlcAk3
— Squawk Box (@SquawkCNBC) December 8, 2022
Kevin O’Leary says Sam Bankman-Fried was a brilliant trader and would give FTX founder a second chance
In another interview published last month, Kevin O’Leary not only praised Sam Bankman-Fried, but also admitted that he would give the former billionaire a second chance.
On the occasion, interviewer Ran Neuner asks what the Shark Tank star would do if the founder of FTX knocked on his door again asking for capital for a second company after his brokerage went bankrupt.
O’Leary’s reaction surprised everyone.
“He [Sam Bankman-Fried] was one of the smartest traders in the cryptocurrency universe. He also built one of the most robust platforms, we used FTX, it was a very robust platform.
“Would you support him?” Neuner asked again.
“The answer would be yes”concluded O’Leary.
You can’t make this stuff up…@kevinolearytv from the television program Shark Tank was asked by @cryptomanran if he were to invest in SBF again… you would NOT believe his reaction.
He was also a paid spokesperson for FTX… and an investor in FTX. He also lobbies in DC.
— mlejr (@MLeeJr) November 15, 2022
Had the call not been recorded, it would be hard to believe that someone who lost millions in the scam – or mismanagement, to the most naive – of FTX would be doing business with SBF again. However, the video is there, leaving everyone in awe of the Shark Tank star’s mentality.
Source: Live Coins
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
