{"id":16556,"date":"2023-01-17T15:51:42","date_gmt":"2023-01-17T15:51:42","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-sees-another-ftx-like-crypto-meltdown-to-zero\/"},"modified":"2023-01-17T15:51:42","modified_gmt":"2023-01-17T15:51:42","slug":"kevin-oleary-sees-another-ftx-like-crypto-meltdown-to-zero","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/kevin-oleary-sees-another-ftx-like-crypto-meltdown-to-zero\/","title":{"rendered":"Kevin O&#8217;Leary sees another FTX-like crypto meltdown to zero"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1649770560693-a379cd47-01a1-4782-97ed-134f1a961b2c-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1649770560693-a379cd47-01a1-4782-97ed-134f1a961b2c-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1649770560693-a379cd47-01a1-4782-97ed-134f1a961b2c-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1649770560693-a379cd47-01a1-4782-97ed-134f1a961b2c-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li dir=\"ltr\"><em><strong>Kevin O\u2019Leary thinks\u00a0<\/strong><\/em><em><strong>the crypto market should be ready for another FTX-like collapse, noting this will 100% happen.<\/strong><\/em><\/li>\n<li dir=\"ltr\"><strong><em>According to the venture capitalist and \u201cShark Tank\u201d star, crypto needs to move away from a \u201cunregulated cowboy environment\u201d that\u2019s full of rogue players.<\/em><\/strong>\u00a0<\/li>\n<li><strong><em>The billionaire investor thinks the scenarios where an exchange goes burst will keep happening over and over until regulations begin to change some of the factors enabling the failures<\/em><\/strong>.<\/li>\n<\/ul>\n<p dir=\"ltr\">Kevin O\u2019Leary, the Chairman of O\u2019Leary Ventures and a seasoned investor, has shared his outlook on the crypto market, suggesting in a recent interview that the industry could yet see another major meltdown.<\/p>\n<p dir=\"ltr\">Particularly, the \u2018Shark Tank\u2019 star believes more unregulated <a href=\"https:\/\/coinjournal.net\/exchanges\/\">cryptocurrency exchanges<\/a> will fail, even as the regulatory landscape improves to put rogue players in check.<\/p>\n<h2 dir=\"ltr\">O\u2019Leary says new exchange collapses 100% will happen<\/h2>\n<p dir=\"ltr\">O\u2019Leary came under heavy criticism in the aftermath of the collapse of FTX, with his role as a spokesperson attracting the ire of Crypto Twitter even as the <a href=\"https:\/\/coinjournal.net\/ftx-token\/\">FTX Token<\/a> plummeted and he claimed he lost money on the exchange.<\/p>\n<p dir=\"ltr\">Now he says he can never buy any of these exchange tokens, and that platforms incentivising customers to buy tokens with offers of trading fee discounts are perpetuating a scheme that will see many people lose their money.<\/p>\n<p dir=\"ltr\">Asked whether he thinks there\u2019s going to be another FTX, O\u2019Leary noted there would. He <a href=\"https:\/\/www.youtube.com\/watch?v=xckrkxhrP4M\" rel=\"noopener noreferrer\" target=\"_blank\">told<\/a> Kitco News anchor David Lin on Tuesday that it doesn\u2019t worry him.<\/p>\n<p dir=\"ltr\">\u201c<em>I\u2019m not worried, but if you\u2019re asking me, will there be another meltdown to zero absolutely 100% it\u2019ll happen, and it\u2019ll keep happening over and over. All of these exchanges, all of the unregulated exchanges are having massive outflows now. The smart money has got the joke, they saw what happened with FTX and are not sitting around for an explanation<\/em>.\u201d<\/p>\n<p dir=\"ltr\">The venture capitalist went on to highlight that any exchanges not willing to be fully and properly audited \u2013 those that still don\u2019t fancy transparency \u2013 will see an exodus of institutional capital. On such exchanges he said, the \u201cunregulated cowboy environment\u201d will end. And there are going to be many more collapses as the space matures under a robust regulatory framework.<\/p>\n<p dir=\"ltr\">\u201c<em>I think we just need to treat crypto like any other regulated asset<\/em>,\u201d he noted, adding that this is likely to happen sooner as more companies, including USD Coin stablecoin issuer Circle, pursue a proper regulatory environment.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/kevin-oleary-says-another-meltdown-to-zero-will-100-happen\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Kevin O\u2019Leary thinks\u00a0the crypto market should be ready for another FTX-like collapse, noting this will 100% happen. According to the venture capitalist and \u201cShark Tank\u201d star, crypto needs to move away from a \u201cunregulated cowboy environment\u201d that\u2019s full of rogue players.\u00a0 The billionaire [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":16557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16556"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=16556"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/16556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/16557"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=16556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=16556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=16556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}