{"id":15619,"date":"2022-12-19T03:11:32","date_gmt":"2022-12-19T03:11:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/shark-tank-star-kevin-oleary-defends-support-of-crypto-exchange-ftx-and-sam-bankman-fried-featured-bitcoin-news\/"},"modified":"2022-12-19T03:11:32","modified_gmt":"2022-12-19T03:11:32","slug":"shark-tank-star-kevin-oleary-defends-support-of-crypto-exchange-ftx-and-sam-bankman-fried-featured-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/shark-tank-star-kevin-oleary-defends-support-of-crypto-exchange-ftx-and-sam-bankman-fried-featured-bitcoin-news\/","title":{"rendered":"Shark Tank Star Kevin O’Leary Defends Support of Crypto Exchange FTX and Sam Bankman-Fried \u2013 Featured Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

Shark Tank star Kevin O\u2019Leary, aka Mr. Wonderful, has defended his support of the collapsed crypto exchange FTX and its former CEO Sam Bankman-Fried (SBF). \u201cThis is America. The justice system provides the presumption of innocence unless proven otherwise,\u201d he stressed. O\u2019Leary also denied the accusation by Binance CEO Changpeng Zhao (CZ) that he perjured himself in a U.S. Senate hearing over why FTX failed.<\/strong><\/p>\n

Kevin O\u2019Leary on FTX\u2019s Collapse<\/h2>\n

Shark Tank star Kevin O\u2019Leary defended his position as a spokesperson<\/a> for the collapsed crypto exchange FTX in an interview with CNBC Friday. He also commented on Binance CEO Changpeng Zhao (CZ) calling him a liar.<\/p>\n

When asked why he did not stridently condemn former FTX CEO Sam Bankman-Fried (SBF), O\u2019Leary replied:<\/p>\n

\n

This is America. The justice system provides the presumption of innocence unless proven otherwise.<\/p>\n<\/blockquote>\n

The former FTX executive was arrested<\/a> in the Bahamas last week. The U.S. government and several regulators have filed a number of fraud charges<\/a> against him and his crypto exchange. O\u2019Leary was FTX\u2019s spokesperson and an investor in the exchange when it collapsed. The company paid<\/a> him about $15 million to become its spokesperson, which the Shark Tank star said was lost when the exchange filed for bankruptcy.<\/p>\n

When asked, \u201cAre you still conflating money you got paid by FTX that you lost, or did you actually invest some of your own funds?\u201d the Shark Tank star replied: \u201cMoney is fungible.\u201d CNBC\u2019s Joe Kernen then noted: \u201cSo you didn\u2019t. Once again, you\u2019re a venture investor who ventured your name<\/a> \u2026 You didn\u2019t even pay your own money on the taxes.\u201d<\/p>\n

O\u2019Leary was then asked by Andrew Ross Sorkin: \u201cWhat do you think happened? Do you believe this was a fraud?\u201d Emphasizing that he doesn\u2019t \u201chave the facts\u201d and the new FTX CEO<\/a> also \u201cdoesn\u2019t have them yet,\u201d Mr. Wonderful replied:<\/p>\n

\n

I\u2019m looking for my records. I\u2019m willing to fund a forensic audit of our accounts. I\u2019d like to know what happened, obviously. There\u2019s a lot of bad things that have been alleged here. No question about it. Some of them are going to be true, likely, because there is no money there. Somewhere the cash is gone.<\/p>\n<\/blockquote>\n

O\u2019Leary Responds to Binance CEO CZ\u2019s Accusation<\/h2>\n

Following O\u2019Leary\u2019s testimony before the Senate Banking Committee stating that he believes FTX failed because rival crypto exchange Binance intentionally put it out of business<\/a>, Binance CEO Changpeng Zhao (CZ) called the Shark Tank star a liar.<\/p>\n

Mr. Wonderful stressed:<\/p>\n

\n

Yesterday, on the air, CZ called me a liar. Then he suggested I perjured myself in front of the U.S. Senate for 2 hours this week. I can assure you that\u2019s not the case.<\/p>\n<\/blockquote>\n

\u201cAnother little parable here you should understand,\u201d O\u2019Leary continued. He proceeded to explain that his birth father was Irish, adding that when he was young, his father told him: \u201cSon, never call an Irishman a liar, unless you know with certainty that it\u2019s true.\u201d The Shark Tank star then asked his father: \u201cWhy is that dad?\u201d His father replied: \u201cBecause the Irish are crazy.\u201d<\/p>\n

Referring to CZ\u2019s accusation, Mr. Wonderful emphasized, \u201cI\u2019m not happy about this,\u201d adding:<\/p>\n

\n

At the end of the day I have no ill will towards this guy, but he\u2019s part of the story too.<\/p>\n<\/blockquote>\n

Before FTX collapsed, O\u2019Leary almost secured<\/a> $8 billion to save the crypto exchange from having to file for bankruptcy. He said that Bankman-Fried is one of the best traders in the crypto space and he will back the FTX co-founder again<\/a> if he has another venture.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
Binance<\/a>, CZ<\/a>, ftx<\/a>, kevin o’leary<\/a>, kevin o’leary FTX<\/a>, Kevin O\u2019Leary Binance<\/a>, Kevin O\u2019Leary CZ<\/a>, Kevin O\u2019Leary liar<\/a>, Kevin O\u2019Leary Sam Bankman-Fried<\/a>, Kevin O\u2019Leary SBF<\/a>, Kevin O\u2019Leary Senate<\/a>, Mr Wonderful Binance<\/a>, Mr Wonderful CZ<\/a>, Mr Wonderful liar<\/a>, Mr. Wonderful FTX<\/a>, sbf<\/a><\/div>\n<\/div>\n

What do you think about the comments by Kevin O\u2019Leary? Let us know in the comments section below.<\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\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.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

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

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n