Kevin O’Leary publicly announced that he had lost lots of money by investing in FTX. However, he revealed in an interview with CNBC on December 8 that he earned $4.3 million profit from the FTX investment.
What figures saying —
According to the figures and the calculations, Kevin O’Leary held $9.7 million worth of cryptocurrency on the Bankman company FTX and invested $ 1 million in equity. FTX has paid Kevin O’Leary $15 million to be the firm’s spokesperson.
He also revealed this offer on December 1 on Twitter, saying,” I lost millions as an investor in FTX and got sandblasted as a paid spokesperson for the firm. Still, after listening to that interview, I’m in the Bill Ackman camp about the kid!”
Kevin O’Leary is a big supporter of FTX.
Terence Thomas Kevin O’Leary is a well-known Canadian businessman and television personality. He is also known as ‘Mr.Wonderful.’
Because of the FTX fallout, many customers lost their life savings, and the company went bankrupt; because of FTX, most of the country’s regulators and lawmakers got active. South Korea, Australia and many more countries have introduced new regulations.
FTX has created a big crisis for other exchanges because most customers are migrating their reserves to cold and hot wallets. Instead of these examples, Kevin O’Leary supported FTX and refused to acknowledge that FTX was involved in any illegal functioning.
Earlier Kevin O’Leary replied to Bill Ackman’s in support of FTX and stated, “I am not scared of investing in entrepreneurs that have had catastrophic failures. Failure is often the best teacher.”
Kevin O’Leary itself revealed that he was paid to say all this stuff. All of the