{"id":15291,"date":"2022-12-09T05:33:44","date_gmt":"2022-12-09T05:33:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-reveals-ftx-paid-him-15-million-to-become-a-spokesperson-for-the-exchange-featured-bitcoin-news\/"},"modified":"2022-12-09T05:33:44","modified_gmt":"2022-12-09T05:33:44","slug":"kevin-oleary-reveals-ftx-paid-him-15-million-to-become-a-spokesperson-for-the-exchange-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-reveals-ftx-paid-him-15-million-to-become-a-spokesperson-for-the-exchange-featured-bitcoin-news\/","title":{"rendered":"Kevin O’Leary Reveals FTX Paid Him $15 Million to Become a Spokesperson for the Exchange \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, has revealed that the collapsed crypto exchange FTX paid him about $15 million to become its spokesperson. \u201cI put about $9.7 million into crypto. I think that\u2019s what I lost. I don\u2019t know. It\u2019s all at zero,\u201d O\u2019Leary said.<\/strong><\/p>\n

Kevin O\u2019Leary Was Paid $15M by FTX<\/h2>\n

Shark Tank star Kevin O\u2019Leary revealed in an interview with CNBC Thursday that the collapsed crypto exchange FTX paid him about $15 million last year to become its spokesperson<\/a>.<\/p>\n

Noting that he fell prey to \u201cgroupthink,\u201d O\u2019Leary detailed:<\/p>\n

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Total deal was just under $15 million, all in \u2026 I put about $9.7 million into crypto. I think that\u2019s what I lost. I don\u2019t know. It\u2019s all at zero.<\/p>\n<\/blockquote>\n

The Shark Tank star further revealed that he also had over $1 million of FTX equity, which is now rendered worthless due to the bankruptcy protection process. In addition, Mr. Wonderful explained that the balance of a little over $4 million was purportedly eaten up by taxation and agent fees. He admitted:<\/p>\n

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It was not a good investment.<\/p>\n<\/blockquote>\n

FTX filed for bankruptcy on Nov. 11 and Sam Bankman-Fried (SBF) stepped down as the CEO. The company is now being investigated<\/a> for mishandling customer funds. FTX\u2019s new CEO, John Ray, told the bankruptcy court: \u201cNever in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.\u201d<\/p>\n

Despite stating that he lost millions of dollars in the FTX collapse, O\u2019Leary has insisted that Bankman-Fried is one of the best traders in the crypto space and that he would back him again<\/a> if he has another venture. This has shocked the crypto industry since most people believe that Bankman-Fried is a fraud and a conman<\/a>. Some have compared the FTX meltdown to Bernie Madoff\u2019s Ponzi scheme<\/a>.<\/p>\n

Bankman-Fried has insisted that he did not knowingly commit fraud<\/a>. Like O\u2019Leary, billionaire hedge fund manager Bill Ackman similarly said he believes<\/a> SBF was telling the truth. Mr. Wonderful also recently revealed that he almost secured<\/a> $8 billion to save FTX before it collapsed and had to file for bankruptcy.<\/p>\n

What do you think about Kevin O\u2019Leary being paid $15 million to become FTX\u2019s spokesperson? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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\nKevin Helms <\/h6>\n

\nA student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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