On the 8th of December 2022, an internet investigator, Coffeezilla, shared information about Kevin O’Leary. FTX paid the shark tank star $15 million to be its spokesperson.
In case anyone was confused why Kevin O’Leary thinks SBF is such a good guy. — it just came out he had a $15mm dollar deal. https://t.co/yq76vZ7Z4g
— Coffeezilla (@coffeebreak_YT) December 8, 2022
In an interview, discussing the viable potential of the crypto space, post-FTX crash. Kevin O’Leary, seemingly upbeat about the development, was put on the spot when the interviewer pointed out his $15 million deal with FTX. Unlike unfortunate users, he got millions out of the FTX situation.
This information brought O’Leary’s previous statements into perspective. It explains why he kept saying that SBF is a good person… a 1% guy.
Back in November 2022, when FTX was fresh on the news. Unlike the other shareholders of FTX and FTX US, O’Leary was of the opinion that he would still hire Sam Bankman-fried into his team and invest in his project on the condition that SBF is only confined to a crypto trading role.
With clear evidence of fraudulent activities, mismanagement of customer assets, and chapter 11 bankruptcy, O’Leary’s statement caused an uproar from FTX users and viewers, who wholeheartedly believe that SBF should be in jail, answering for his crimes.
Even the co-founder of Reflexivity Research, Will Clemente, called O’Leary out on his comment, asking why he would support someone that was not trading the market but counter-trading against his customers. Then dumping accumulated assets on the same customers.
Unlike the story being peddled that FTX failed. Evidence points towards lies, cheating, and insider trading, ultimately leading to the theft of user funds. For a man that went after Brian Armstrong, the CEO of Coinbase, it was shocking he is backing SBF.
Now we know why. He was paid millions to do so
Other players in the industry believe it’s all a scripted performance. With the level of distrust that surrounded the crypto industry and the multiple loss events, a major crash was needed to usher in government meddling.
With the situation of FTX and the ripple effects, users wouldn’t just allow the government to legislate on the crypto space. They would call for that legislature. Which would explain why the government is unwilling to prosecute its ally SBF.
When Kevin O’Leary was asked about his assets and what he will do going forward he responded by saying that “unregulated” crypto projects are bad regardless of their size and he would be putting his assets not in cold storage but in a “regulated” security exchange based in Canada.