FTX News: Kevin O’Leary Claims That He Can’t Call SBF Guilty Unless he’s Tried
Concerning the recent news about the FTX collapse, and its founder, SBF’s Capitol Hill phone call — Kevin O’Leary, of Shark Tank fame, called on Dec 8 for calm. Kevin seemed to be steadfast in his conviction that it was wrong to call Sam Bankman-Fried (SBF), the ex-CEO and founder of FTX, guilty unless the U.S. authorities or judiciary system first tried him.
Kevin loses his $15 million
He appears to be in defense SBF but he wants proper auditing of the company and investigations to be conducted to ensure the truth prevails. He admits that he has lost all of the $15million that FTX paid him to be a spokesperson for the now-defunct cryptocurrency exchange.
Read More: How FTX’s SBF Changed From Being “The New JP Morgan”, To A “Con Artist”
He was quoted as saying:
The total deal was just over $15 million all in — I invested about $9.7million into crypto. I believe that’s what I lost — but I don’t know — it’s all at zero.
O’Leary also claimed that he owned over $1 million worth of FTX shares. This is now worthless because of the bankruptcy protection process. O’Leary claimed that the remaining funds, which totaled slightly more than $4million, were allegedly taken by taxes and agent fees.
FTX News Doesn’t Shake O’Leary
The Canadian investor, also known by the name “Mr. The hosts of CNBC’s SquawkBox asked Wonderful about his inability to properly examine the dangers associated with supporting FTX.
O’Leary admitted that “groupthink” was his weakness and that none of his investment partners had suffered financial loss. He did admit that he got his money back through the Circle group shares, which have seen a remarkable revenue increase this year.
Read more: Coinbase CEO Expects Revenue to Fall by More Than 50% in 2022
Before the FTX saga began, Kevin made extensive efforts to promote cryptocurrency exchanges on Twitter and other online platforms. He highlighted his close relationship to Sam Bankman-Fried (now subject to several investigations).
Is it Guilty Until Proven
Kevin, however, seemed to be sticking to the “not guilty till proven” stance throughout the show and commented that:
I don’t get why you would say he’s guilty without him being tried.
O’Leary concluded that it was not a good investment.
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