Kevin O’Leary believes U.S. lawmakers are “fatigued” and “pissed” with the cryptocurrency industry after having to deal with one blowup after another.
Shark Tank investor and venture capitalist Kevin O’Leary has urged crypto exchanges to “get involved in the law” if they want to “leave” Gary Gensler at the United States Securities Exchange Commission.
On a Feb. 20 interview on TraderTV Live, O’Leary said that US lawmakers are “tired” of crypto meltdowns and will be more aggressive if companies continue to default:
“You have to enter the legal system, you have to stay away from Gensler and the SEC and other regulators. These hombres [men] in Washington are not happy. FTX chased the bear away the bear was awake and angry.
“These representatives are tired, they are really sick of meeting every six months when the next crypto company collapses and goes down to zero,” he said. , adding “because they don’t have enough rules and continue to give useless signals.” “
O’Leary said that the SEC slapping Kraken with $30 million and ordering them to stop staking operations immediately should put the company on alert and comply in any way.
In light of the recent regulatory crackdown, a Shark Tank investor predicted that regulated trading platforms would be better investments than their unregulated counterparts in the next few years:
“I think that the value of these controlled variables will increase in the next few years, while those that are not controlled will be removed or reduced to zero by the regulators.”
O’Leary recently admitted that he lost nearly 100% of the $15 million FTX paid him to be a spokesperson. Despite the belief that FTX is a “bad” fund, Mr. Wonderful continued to defend former FTX CEO Sam Bankman-Fried, saying that the controversial figure should be treated as an individual white until convicted adding that he would not rule out investing in another failed businessman:
The Shark Tank investor has also expressed his distaste for some of the unruly players in the industry.
On August 13, O’Leary said that the Dutch authorities were right to arrest Alexey Pertsev – the creator of the Ethereum-based crypto mixer Tornado Cash – because these tools and “crypto cowboys” run them “violating the laws primordial war”.
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