Kevin O’Leary Teams Up With Crypto Exchange FTX – Paid In Crypto
Kevin O’Leary has became a long-term investment partner of the crypto derivative exchange FTX. He will receive compensation in cryptocurrency for being FTX spokesperson, according to a press release.
Shark Tank star and businessman Kevin O’Leary and the crypto derivative exchange FTX have become long-term investment partners. As part of the deal, Mr. Wonderful will be taking an equity share in the exchange. He will also receive payments in digital assets to serve as a spokesperson and an ambassador of the exchange.
Mr. Wonderful Teams Up With FTX
According to a press release, the Shark Tank investor, Kevin O’Leary and the cryptocurrency exchange, FTX Trading LTD. have entered into a long-term collaboration. The investor will serve as an ambassador and a spokesperson of the platform.
As such, O’Leary will get involved in various initiatives aiming to promote FTX to new audiences. He will even become a shareholder at the venue. Interestingly, the TV host, also known as Mr. Wonderful, will receive payments in digital assets. He praised the platform and explained what made him sign the deal:
“Institutional investors struggle with the decision to invest in crypto assets… I am no different. I want to increase my crypto exposure but also serve my compliance mandates…
To find crypto investment opportunities that met my own rigorous standards of compliance, I entered into this relationship with FTX. It has some of the best crypto exchange offerings I’ve seen in the market.”
Kevin O’Leary even took it to Twitter, saying that involving FTX would solve his issues with cryptocurrencies and allow him to increase his allocation, as a first step as the company’s new spokesperson.
Sam Bankman-Fried, the Founder and CEO of FTX, said its trading venue could obviously benefit from partnerships with prominent investors such as the TV host:
“It’s exciting to have a true icon in our corner and we’re thrilled to have a partner like Kevin that shares our views on the importance of compliance. As we continue growing, we’ll need dedicated, knowledgeable, and trustworthy partners like Mr. Wonderful.”
O’Leary: Nothing Will Replace Bitcoin
Despite having a controversial opinion about Bitcoin in the past, the 67-year-old Canadian has been a huge proponent of the asset recently. And, he has in fact, allocated 3% of his portfolio in it.
During the Bitcoin 2021 Conference in Miami, which became the largest-ever Bitcoin event, O’leary shared his views on the industry and BTC in particular, with Crypto Potato.
O’Leary said that the primary cryptocurrency is the right long-term investment tool. Speaking about its volatile nature, he stated that it could actually work in favor of investors as they can allocate the digital asset on various DeFi projects and thus earn higher interest.
Comparing BTC to other rivalry cryptocurrencies such as Ethereum, Mr. Wonderful had a strict opinion:
“The institutions are interested in Bitcoin as a property. That’s the gold standard of digital currency. It just is nothing else is going to replace it. Ethereum may not be as sustainable as people think because there are other chains that may be more efficient in terms of transaction speed than Ethereum. So, I think there’s a lot of risks there.”
