The Canadian businessman and television star, Kevin O’Leary, has forecasted the fall of the “crypto cowboys” with the impending industry regulation. Nonetheless, O’Leary remains optimistic about the future of cryptocurrency.
O’Leary, who previously served as a paid representative for the now-defunct FTX exchange, anticipates that the era of “crypto cowboys” will soon be over. “They’re all going to be gone soon. … They all have arrows in their backs,” he commented during an interview. However, O’Leary remains enthusiastic about the prospects of the crypto industry and is adamant about interacting only with fully compliant exchanges.
In Michael Lewis’s recent book, “Going Infinite,” it was revealed that O’Leary received $15.7 million from FTX for his promotional services. However, some FTX executives, including former COO Constance Wang, questioned his effectiveness as a spokesperson.
During interview, O’Leary spoke highly of a newly licensed crypto exchange known as M2, based in Abu Dhabi, praising its compliance and stability. Despite his appreciation, he clarified that he has not been asked to invest in the exchange, nor is he receiving any compensation from them.