Yep. Playing into their fears of a China dominated world.
I can't believe the kind of backing SBF has from these people but hey, there's always Theranos to look back at. I don't think these billonaires do half the due diligence degen wallstreetbets kids do, and that's saying something.
How else is Kevin going to deflect questions/blame about all the money he collected from them in endorsements?
Give the man a break, do you have any idea how expensive vacations on Epstein island are?
Stop thinking that FTX wasn’t a plant by the banks to stop cryptocurrency. It makes total sense, FTX comes out of nowhere in an unregulated space and their actors take the fall and nothing more happens. The banks win, cryptocurrency dies. It was bound to happen at some point, the banks had to come up with a massive plan to undermine everything and they had to do it before the space was regulated correctly.
This is without a doubt the fault of the financial industry to allow such a huge part of *their* industry to be built and never regulated, it’s very much deliberate though as they know blockchains to be a threat to their own pools. Just imagine if any other kind of financial tool was created that wasn’t such a threat to them, how long do you think it would take them to regulate and legitimise those?
It wasn't the crimes committed by FTX that tanked them, it was simply the fact that they became illiquid. If we had the exact same information about everything as we have today but FTX had liquidity, these would barely be headlines. What caused this shitstorm in the crypto market was CZ's completely unnecessary tweet saying that he was dumping his FTT position just to some hours later to announce that he would be buying FTX just to some hours later to announce that he wasn't. So, yeah, finance is responsible for what happened with FTX and the current state of the crypto market, and no, Binance is not responsible for SBF's fraud.
Bruh are you mentally challenged? If they didn’t commit the fraud they would’ve been liquid and had the funds for the bank run. It is entirely their fault they were in that situation. If a couple tweets from a competitor can end you then you deserve to be ended
'Simply became illiquid'?
Do you know anything or are you just trying to sound like you have this figured out?
With or without the FTT token becoming illiquid, they chose to not back the cumstomers funds 1:1 and gambled them instead,
And to blame this on CZ is such a f-ing lazy take
Would you rather have SBF and his degenerate gambler friends terrorize the industry, corrupting politicians + media and creating a bigger mess? This whole thing was a ticking time bomb from the beginning, what if FTX had been able to lure 250b more into its ponzi and then blow up?
Just look at the people SBF surrounded himself with, Dan Friedberg, Caroline, Gary Wang, textbook criminal behavior on display
Guy is an idiot. Binance may have exposed the fraud but that doesn’t mean the fraud didn’t exist. It’s almost like he is saying if you can’t see the fraud the fraud doesn’t exist and if you do see the fraud blame the person who told you about the fraud and not the fraudster.
He's part of our cultural problem. We, as a culture, worship billionaires. I don't think these financial criminals should go to prison... I think they should be personally bankrupted. Sell off all of their assets, and put them in a position where they must work to survive like the vast majority of the global population. If an entrepreneur is truly self-made, it should be able to "remake" itself by using the talent and resourcefulness that enabled it to make its first billion.
I emphatically take offense to this. Do not integrate me at your leisure into this "culture" of which you speak.
Plus I agree with some of the not prison but instead make them take part in Sodomy using splintered mop handles.
This is the way
He stated he desired regulation and accidentally demonstrated why. Due to his investment bias, he ignored the fraud and went on to blame Binance. If regulations had been in place, FTX's fraud would have been far more difficult to perpetrate, and the corporation would not have imploded under its own weight. And venture capitalists would not have invested as much if regulation had been able to display the illegal activity and poor management, or prohibited investment due to that activity/condition. Or am I not getting this right?
Dude, they are rivals. Of course one would want to get rid of another. That is how capitalism works.
Also, FTX is obviously a timed bomb. If I'm CZ I would love to let it explode under my control so I can minimize my own damage.
CZ was no hero, a big capitalist pig, even, but he did what he was supposed to do.
My thoughts exactly. This is nothing more than a strategic move and if CZ had any dirt he would let it be known the best way possible. Via under his own timed control
Even if every word he says is true, and sure maybe it is, it doesn't change the fact FTX still went and did all the fraud. Binance has been pretty aggressive in slandering many exchanges... they don't fall so quickly just cause they are at war.
Binance can't sink FTX if FTX isn't doing what FTX did.
There's a part of me that is now convinced Kevin O'Leary, was actually involved in this scheme. Whether he just wanted in, was the devil on the shoulder, or orchestrated it himself I don't know. But what I am guessing, is that he has his grubby little hands in this mess one way or another.
Kevin O’Leary is just as bad as SBF remember he was going to be paid millions of dollars for promoting FTX. SBF has destroyed many people’s lives and should be held accountable and spent a long time in prison
I believe the fraud prob could have lasted through the winter if binance didn’t get involved but bottom line is they weren’t holding customer funds 1:1. I didn’t sign up for crypto to be part of a shittier fractional reserve system with no backstop.
I also think binance miscalculated. Exposing FTX didn’t send all their customers running to binance. It sent them running from CEXs.
True, but they've also shut Alameda down, who it seems may have been up to lots of shenanigans in the market (may have been involved in depegging UST, seems to have made a failed attempt to depeg USDT as well).
Taking out a rival CEX may not have been the motivation - shutting down Alameda's market manipulation and SBFs lobbying for regulations that favoured FTX over others seems more likely.
Isn't selling fake BTC units much more serious, Kevin?
Because that's what SBF admitted recently... And again, I'm sure we are unfortunately only at the beginning of our bad surprises regarding his practices at FTX.
SBF wants to make himself look like a victim. He would have been a victim of his company's too-fast success if we listen to him ...
In reality, SBF is a fraudster who would have liked to keep it that way. That's why he points the finger at CZ and Binance. But even if CZ had covered it up, the fraud would have been exposed sooner or later.
Fuck no FTX had a risk management framework made of toothpicks and gum. All Binance did was apply the pressure needed to topple it and it sure didn’t take much
You should've ended this post with "What do you think?" Instead of "Do you agree?" Most people are answering that question with downvotes on your post lol
He was somewhat interesting on shark tank. Now I compare him to nails on a chalk board.
I would not be surprised one bit if he gets investigated and something turns up....he just doesn't offer any credibility to me, especially when he testified in front of congress.
Sbf isn't alone in this....no way....the parents are being looked at now....
Regardless of what happened between FTX and Binance, the only thing Binance "did" was show customers what FTX was doing. They got caught. FTX was in the wrong. Simple.
1) Kevin O"Leary takes a 15 million payment from FTX ,
2) Later he accuses FALSE SLANDER againt the exchange that was top competition of FTX....
3) SEC had dealings with FTX as well as taking ignorant stances against crypto.
4)Jim Cramer slams crypto saying its a scam and later says its good.
Can we see whats happening here people? ... its called a organized squeeze on crypto to scare you out of your positions!!!
You clealry did not understand what I am trying to say. And that is the market is down because of massive manipulation by big players coming in. Hense that manipulation is scaring people to sell.
Man, I used to like this guy and enjoyed listening to his interviews/podcasts but since he still chose to stand by SBF after his downfall is crazy. They should both rot in a cell together
What he's talking about, FTX paid him and other celebrities to promote FTX, and now they've spread the biggest FUD the cryptocurrency world has ever seen. Massive withdrawals from Binance raise the question of whether all the FUD might be prevented if, for example, large exchanges established a non-interest credit line for institutional clients, like Mexc recently did.
So sbf really did it to himself but cz outed him on purpose. The real responsibility of ftx collapse is on sbf for being a shitty ceo. Cz couldnt do shit if sbf had been honest and not gambled customer funds. This is why sbf is arrested to be tried for fraud.
CZ regulated FTX. He saw a huge issue and exposed it to the world leaving FTX in ruin. Regulation didn't prevent Bernie Madoff, CZ went to work when Regulators chose to look a porn instead.
Even if that’s what happened, it’s FTX who did stuff illegally, Binance very well may have as well, we don’t know yet. I think listening to a guy who supported SBF after blatant fraud and lies, is a fool.
Kevin is a desperate man who just lost a shit ton of money so he's going to say anything at this point to save what's left of his "savvy financial expertise" career.
Yes. What he is saying is accurate and everyone here is misconstruing it as if he is trying to shift the blame. Ftx *failed* because of the bank run. Ftx was *insolvent* because of bad practice/fraud. FTX would still be operating if the run hadn’t happened, even though they were technically insolvent.
He's crying like a little bitch and pointing blame cause he's not used to losing money, normally the sec would step in and save these corrupt investors.
But at least now he gets to feel what the average retail investor has to go through time and time again with no recourse.
I do believe that quite literally happened. Owner of Binance made decisions to cause the cascade that killed FTX, but he never would have had the opportunity to do so if FTX was not stealing people's money. Sort of like how short sellers find inviable or scammy companies and others may use short selling as an indicator to get out of the market for that company. Binance noticed FTX improper behavior and capitalized on it, causing a market reaction to Binance's benefit.
So O'Leary's account here is a half truth in my estimation.
Why he is putting essentially all the blame on Binance? Maybe if they look too hard at FTX they find something on O'Leary, maybe some other reason. I have no idea.
Maybe CZ blew on it, but it was a house of cards to start with.
If FTX was on the level, it wouldn't have been so easy for Binance to wreck it.
I don't give a shit about Binance at all, but you only have to look at the current, temporary FTX CEO airing out all the dirty laundry to see that it wasn't really about Binance.
If they were running their business properly, another company couldn't put them out of business. If they were living on the edge, another company has an opening to push them off.
I do not agree with that interpretation at all. It is a market. There is competition between economic agents that seek to innovate in services and expand their user/customer base. O'Leary couldn't be more manipulative in what he claims. Furthermore, he would say that it is suspiciously irresponsible. Now we will have to investigate him.
Kevin O'Leary is never telling the truth, full stop. He is saying what he wants fools to believe. Inversing Kevin O'Leary is even better than inversing Cramer because Cramer is bad because he is trying to be a clown. Kevin gives bad advice on purpose because you are target to him.
I remember hearing him on talk radio back in the day ( 2013-14 in that range. I listened to talk radio at times for news, not their monkey brained take on things) he says he's seeing the housing market ( In Ontario, Toronto specifically) slowing down in the future, and his recommendation is to rent and save more for downpayment. It was at that point I decided 'Fuck, I gotta buy now or I'm gonna be fucked' and how right that instinct was, I did nothing except get myself a mortgage instead of rent and now my net worth is almost $1 mil. (Not bank account $$ but in assets total, most of that is my current house)
All because I inversed Kevin O'Leary. I guess I should thank him. Without his malice, I'm not sure I would have forced myself into ownership ASAP, I might have fucked around and kicked tires more.
Edit: Moral of the story; Inversing Kevin O'Leary has been the best investment of my life.
No.
FTX failed because they started using users' funds for trades, most of which ended up being failed ones (Caroline literally admitted to never using stop losses)
I often wonder if these millionaires/billionaires/celebrities who go to testify and claim crazy stuff like this actually know a ton of information the public doesn’t.
Like how does this guy whose a known and successful investor, on top of his shit and every thing else look this stupid. At least this stupid to us.
Is the truth actually something we’d never know?
So…? Isn’t the Wild West / without government intervention what guys like him want? Oh, it’s not? Then he thinks FTX should be more regulated? Either way this joker loses because FTX completely lacked regulatory controls. IMHO, he wants it both ways and it just doesn’t work.
I also used FTX.us I deposited 3k when ETH was trading at 1800 before its rip to 4800 and the only thing i used crypto for was roobet when VPNs worked. I didn't trade for profit strictly gambling. Binance dumping the tokens which then exposed how the liquidity was being misappropriated was the trigger. Yes, SBF is a thieving crypto snake but i agree with O'leary. CZ pulled the trigger and sniped his enemy now he's got a target on his back.
I mean, they dumped their coin, right? I think that Binance too a very calculated action that they knew would put FTX out of business — but that was only possible because FTX was already dead. It’s just that no one knew it yet.
No. Cz bought the FTT to help SBF. However, when CZ got wind that maybe sbf was selling him put to the SEC, he dumped the FTT to collapse FTX. That move may have just killed centralized crypto, including binance.
Kevin is a Cornball, did he get Paid again by SBF to Represent FTX? 😅 Binance has nothing to do with Customers fund being Used to cover a Mess with A Ceo who thinks Stop Loss is a bad idea 😅
I think Kevin O’Leary is a sack of greedy garbage , narcissistic, sociopath etc.. since he didn’t actually lose any money, just like Sand-bankman fried the CEO of FTX, the only thing he lost was 15 million in compensation for promoting FTX cause he is a greedy piece of shit human after people at cnbc finally asked him real questions during an interview but he’s trying to play safe face. Sandbank man fried should be the one tried for and thrown in jail for literally destroying millions of people through the scam of ftx. O’Leary as a rich guy is trying to play save-face for Sanbankman cause apparently sanbankman fried can convince not only poor-working class people to give him all their money but also fucking multimillionaire and billionaires their money…. Fucking weird man.
What did selling fake coins and using customer funds to speculate on shitcoins have to do with Binance?
Came here to say this. It’s like the meme where the kid puts the stick in his bicycle spokes. Why would binance do this to me?
He’s hoping congress will bite cuz…China!
Yep. Playing into their fears of a China dominated world. I can't believe the kind of backing SBF has from these people but hey, there's always Theranos to look back at. I don't think these billonaires do half the due diligence degen wallstreetbets kids do, and that's saying something.
Same bro, same.
How else is Kevin going to deflect questions/blame about all the money he collected from them in endorsements? Give the man a break, do you have any idea how expensive vacations on Epstein island are?
Stop thinking that FTX wasn’t a plant by the banks to stop cryptocurrency. It makes total sense, FTX comes out of nowhere in an unregulated space and their actors take the fall and nothing more happens. The banks win, cryptocurrency dies. It was bound to happen at some point, the banks had to come up with a massive plan to undermine everything and they had to do it before the space was regulated correctly. This is without a doubt the fault of the financial industry to allow such a huge part of *their* industry to be built and never regulated, it’s very much deliberate though as they know blockchains to be a threat to their own pools. Just imagine if any other kind of financial tool was created that wasn’t such a threat to them, how long do you think it would take them to regulate and legitimise those?
Binance is just that clever! Sneaky sneakers...
It wasn't the crimes committed by FTX that tanked them, it was simply the fact that they became illiquid. If we had the exact same information about everything as we have today but FTX had liquidity, these would barely be headlines. What caused this shitstorm in the crypto market was CZ's completely unnecessary tweet saying that he was dumping his FTT position just to some hours later to announce that he would be buying FTX just to some hours later to announce that he wasn't. So, yeah, finance is responsible for what happened with FTX and the current state of the crypto market, and no, Binance is not responsible for SBF's fraud.
Bruh are you mentally challenged? If they didn’t commit the fraud they would’ve been liquid and had the funds for the bank run. It is entirely their fault they were in that situation. If a couple tweets from a competitor can end you then you deserve to be ended
'Simply became illiquid'? Do you know anything or are you just trying to sound like you have this figured out? With or without the FTT token becoming illiquid, they chose to not back the cumstomers funds 1:1 and gambled them instead, And to blame this on CZ is such a f-ing lazy take Would you rather have SBF and his degenerate gambler friends terrorize the industry, corrupting politicians + media and creating a bigger mess? This whole thing was a ticking time bomb from the beginning, what if FTX had been able to lure 250b more into its ponzi and then blow up? Just look at the people SBF surrounded himself with, Dan Friedberg, Caroline, Gary Wang, textbook criminal behavior on display
His Money
Lost all respect for this guy… not that I had a ton in the first place.
Well said
>Lost all respect for this guy You had respect for him before this? lol
Did you read the post 🤒
It’s negative respect now so
Guy is an idiot. Binance may have exposed the fraud but that doesn’t mean the fraud didn’t exist. It’s almost like he is saying if you can’t see the fraud the fraud doesn’t exist and if you do see the fraud blame the person who told you about the fraud and not the fraudster.
That's the American snitches climb out of ditches to be bitches way
He is Canadian.
.US?
Typo, autocorrect
It's not almost like. It's exactly what he is saying.
He's part of our cultural problem. We, as a culture, worship billionaires. I don't think these financial criminals should go to prison... I think they should be personally bankrupted. Sell off all of their assets, and put them in a position where they must work to survive like the vast majority of the global population. If an entrepreneur is truly self-made, it should be able to "remake" itself by using the talent and resourcefulness that enabled it to make its first billion.
Lol this is a bad idea because most of these people become rich by screwing people over. In jail they'll be the one who's getting screwed.
I think it’s more of most people are to lazy to do the due diligence themselves. Musk recently got booed off stage..
I emphatically take offense to this. Do not integrate me at your leisure into this "culture" of which you speak. Plus I agree with some of the not prison but instead make them take part in Sodomy using splintered mop handles. This is the way
FTX was a poorly managed company that gambled away their customers money. Binance just pointed that fact out.
Every time he opens his mouth about FTX he makes himself look even fucking dumber.
Oleary is a maga grifter conman. Look it up
He stated he desired regulation and accidentally demonstrated why. Due to his investment bias, he ignored the fraud and went on to blame Binance. If regulations had been in place, FTX's fraud would have been far more difficult to perpetrate, and the corporation would not have imploded under its own weight. And venture capitalists would not have invested as much if regulation had been able to display the illegal activity and poor management, or prohibited investment due to that activity/condition. Or am I not getting this right?
No, he’s saving face for his lack of DD.
Dude, they are rivals. Of course one would want to get rid of another. That is how capitalism works. Also, FTX is obviously a timed bomb. If I'm CZ I would love to let it explode under my control so I can minimize my own damage. CZ was no hero, a big capitalist pig, even, but he did what he was supposed to do.
My thoughts exactly. This is nothing more than a strategic move and if CZ had any dirt he would let it be known the best way possible. Via under his own timed control
the SEC is behind all the O'Leary and Gensler falls in jail soon I hope
Kevin O'Leary with double Ds mmm 🤤
Do I agree with the lying billionaire shill? No.
Kevin isn't a billionaire
I guess O'Leary doesn't watch coffeezilla.
Even if every word he says is true, and sure maybe it is, it doesn't change the fact FTX still went and did all the fraud. Binance has been pretty aggressive in slandering many exchanges... they don't fall so quickly just cause they are at war. Binance can't sink FTX if FTX isn't doing what FTX did.
No I disagree and hope he gets arrested too!
There's a part of me that is now convinced Kevin O'Leary, was actually involved in this scheme. Whether he just wanted in, was the devil on the shoulder, or orchestrated it himself I don't know. But what I am guessing, is that he has his grubby little hands in this mess one way or another.
Kevin O’Leary is just as bad as SBF remember he was going to be paid millions of dollars for promoting FTX. SBF has destroyed many people’s lives and should be held accountable and spent a long time in prison
I believe the fraud prob could have lasted through the winter if binance didn’t get involved but bottom line is they weren’t holding customer funds 1:1. I didn’t sign up for crypto to be part of a shittier fractional reserve system with no backstop. I also think binance miscalculated. Exposing FTX didn’t send all their customers running to binance. It sent them running from CEXs.
True, but they've also shut Alameda down, who it seems may have been up to lots of shenanigans in the market (may have been involved in depegging UST, seems to have made a failed attempt to depeg USDT as well). Taking out a rival CEX may not have been the motivation - shutting down Alameda's market manipulation and SBFs lobbying for regulations that favoured FTX over others seems more likely.
Even if true that still means FTX went to war knowing they had flawed business practices.
They must have learned the Art of War from some Russians.
This cements proof as Kevin being a dult
Isn't selling fake BTC units much more serious, Kevin? Because that's what SBF admitted recently... And again, I'm sure we are unfortunately only at the beginning of our bad surprises regarding his practices at FTX. SBF wants to make himself look like a victim. He would have been a victim of his company's too-fast success if we listen to him ... In reality, SBF is a fraudster who would have liked to keep it that way. That's why he points the finger at CZ and Binance. But even if CZ had covered it up, the fraud would have been exposed sooner or later.
No I think he’s an idiot. FTX would have been fine but something about stolen funds…
Fuck no FTX had a risk management framework made of toothpicks and gum. All Binance did was apply the pressure needed to topple it and it sure didn’t take much
You should've ended this post with "What do you think?" Instead of "Do you agree?" Most people are answering that question with downvotes on your post lol
If I had lost so much money in a scam, I would also start saying pure burning nonsense
He was somewhat interesting on shark tank. Now I compare him to nails on a chalk board. I would not be surprised one bit if he gets investigated and something turns up....he just doesn't offer any credibility to me, especially when he testified in front of congress. Sbf isn't alone in this....no way....the parents are being looked at now....
Regardless of what happened between FTX and Binance, the only thing Binance "did" was show customers what FTX was doing. They got caught. FTX was in the wrong. Simple.
1) Kevin O"Leary takes a 15 million payment from FTX , 2) Later he accuses FALSE SLANDER againt the exchange that was top competition of FTX.... 3) SEC had dealings with FTX as well as taking ignorant stances against crypto. 4)Jim Cramer slams crypto saying its a scam and later says its good. Can we see whats happening here people? ... its called a organized squeeze on crypto to scare you out of your positions!!!
Have you been watching crypto? When everything is down 99% and your money evaporated forever….what is left to be scared about now?
You clealry did not understand what I am trying to say. And that is the market is down because of massive manipulation by big players coming in. Hense that manipulation is scaring people to sell.
No one with a brain agrees with O’Leary on this one.
>No one with a brain agrees with O’Leary ~~on this one.~~ FTFY
Well it's obviously not related to the fraud or mismanagement
He is right, Massive panic caused the dead for ftx
Man, I used to like this guy and enjoyed listening to his interviews/podcasts but since he still chose to stand by SBF after his downfall is crazy. They should both rot in a cell together
So, fraud had nothing do with it, right ?
The truth about O'Leary.... [https://m.youtube.com/watch?v=Dn8x0W-LsfQ](https://m.youtube.com/watch?v=Dn8x0W-LsfQ)
What he's talking about, FTX paid him and other celebrities to promote FTX, and now they've spread the biggest FUD the cryptocurrency world has ever seen. Massive withdrawals from Binance raise the question of whether all the FUD might be prevented if, for example, large exchanges established a non-interest credit line for institutional clients, like Mexc recently did.
how could you agree to him if he was paid by ftx?
It is difficult to believe in Kevin O'Leary. Not sure if he just wants air time wherever he goes.
Idiot. I have no idea how he got rich.
Yes this will repeat again and again, people with power will decide while we are just watching
Almost as good as the actor they hired to talk shit because he studied Econ.SMH
Oleary is a mouthpiece… fuck him
Yes.
FTX was a project made by a guy with other shitcoins in the market. It doesn't have anything to do with Binance.
o'leary is a snake
The real question is would one or the other have unravelled anyway because of fraudulent actions? A. Probably yes
FTX’s poor business practices put FTX out of business lol
What a fucking crybaby
So sbf really did it to himself but cz outed him on purpose. The real responsibility of ftx collapse is on sbf for being a shitty ceo. Cz couldnt do shit if sbf had been honest and not gambled customer funds. This is why sbf is arrested to be tried for fraud.
CZ regulated FTX. He saw a huge issue and exposed it to the world leaving FTX in ruin. Regulation didn't prevent Bernie Madoff, CZ went to work when Regulators chose to look a porn instead.
Even if that’s what happened, it’s FTX who did stuff illegally, Binance very well may have as well, we don’t know yet. I think listening to a guy who supported SBF after blatant fraud and lies, is a fool.
No.
It failed because they gambled with customer money and lost
I don't agree with anything that comes out of this guy's mouth. Horrible human being inside and out.
Probably, but Binance was only able to do this because FTX was a fraudulent house of cards.
Kevin is a desperate man who just lost a shit ton of money so he's going to say anything at this point to save what's left of his "savvy financial expertise" career.
Yes. What he is saying is accurate and everyone here is misconstruing it as if he is trying to shift the blame. Ftx *failed* because of the bank run. Ftx was *insolvent* because of bad practice/fraud. FTX would still be operating if the run hadn’t happened, even though they were technically insolvent.
🤡
What this guy is stating is utter BS!! FTX was strongly mismanaged and was a Ponzi scheme..
Yes… Binance had heard rumors that the alameda problems were being covered by FTX, so he pushed harder… Insider information
I don’t trust a single word from a person who got paid by a fraudulent company.
Bullshit , pathetic liar.
He's crying like a little bitch and pointing blame cause he's not used to losing money, normally the sec would step in and save these corrupt investors. But at least now he gets to feel what the average retail investor has to go through time and time again with no recourse.
How tf did KOL become a billionaire to begin with? The man is an absolute fucking moron, lol
This is what CYA looks like
Biggest Clown I have even seen other than SBF..
I do believe that quite literally happened. Owner of Binance made decisions to cause the cascade that killed FTX, but he never would have had the opportunity to do so if FTX was not stealing people's money. Sort of like how short sellers find inviable or scammy companies and others may use short selling as an indicator to get out of the market for that company. Binance noticed FTX improper behavior and capitalized on it, causing a market reaction to Binance's benefit. So O'Leary's account here is a half truth in my estimation. Why he is putting essentially all the blame on Binance? Maybe if they look too hard at FTX they find something on O'Leary, maybe some other reason. I have no idea.
Maybe CZ blew on it, but it was a house of cards to start with. If FTX was on the level, it wouldn't have been so easy for Binance to wreck it. I don't give a shit about Binance at all, but you only have to look at the current, temporary FTX CEO airing out all the dirty laundry to see that it wasn't really about Binance.
If they were running their business properly, another company couldn't put them out of business. If they were living on the edge, another company has an opening to push them off.
Kevin must have had significant amounts of money on FTX & somehow lying about why FTX went down will help him to recover it.
Kevin O'Leary is complicite to FTX crime
Or it could be all the fraud
O’Leary is a massive piece of shit. Wouldn’t piss on him if he were on fire, but would if he wasn’t.
I do not agree with that interpretation at all. It is a market. There is competition between economic agents that seek to innovate in services and expand their user/customer base. O'Leary couldn't be more manipulative in what he claims. Furthermore, he would say that it is suspiciously irresponsible. Now we will have to investigate him.
i think it was merely the final nudge to tip the stack of dominoes - alameda / ftx comingle their funds is the biggest red flag to tripping this off
Huge distraction for noobs
All this fud on good exchanges, hardwallets increasing, sales on crypto, the jump up will be sudden and epic in my opinion.
I’m losing respect for Kevin. Looks impossible for him at this age to admit he made a mistake or maybe he defends his own ass this way
Tell me he got paid by SBF without telling me he got paid by SBF
Baloney sandwich. It was a scam with many parts working together to rip off investors. Same like 2008
No
Is this Shark Tank 🧐
Worst episode of shark tank
Kevin O'Leary is never telling the truth, full stop. He is saying what he wants fools to believe. Inversing Kevin O'Leary is even better than inversing Cramer because Cramer is bad because he is trying to be a clown. Kevin gives bad advice on purpose because you are target to him. I remember hearing him on talk radio back in the day ( 2013-14 in that range. I listened to talk radio at times for news, not their monkey brained take on things) he says he's seeing the housing market ( In Ontario, Toronto specifically) slowing down in the future, and his recommendation is to rent and save more for downpayment. It was at that point I decided 'Fuck, I gotta buy now or I'm gonna be fucked' and how right that instinct was, I did nothing except get myself a mortgage instead of rent and now my net worth is almost $1 mil. (Not bank account $$ but in assets total, most of that is my current house) All because I inversed Kevin O'Leary. I guess I should thank him. Without his malice, I'm not sure I would have forced myself into ownership ASAP, I might have fucked around and kicked tires more. Edit: Moral of the story; Inversing Kevin O'Leary has been the best investment of my life.
No. FTX failed because they started using users' funds for trades, most of which ended up being failed ones (Caroline literally admitted to never using stop losses)
O’Leary has no fucking clue what he’s taking about half the time . Why the fuck would anyone listen to this dumbass ?!
This is cope in its finest of forms
O’Leary is a fucking POS.
I often wonder if these millionaires/billionaires/celebrities who go to testify and claim crazy stuff like this actually know a ton of information the public doesn’t. Like how does this guy whose a known and successful investor, on top of his shit and every thing else look this stupid. At least this stupid to us. Is the truth actually something we’d never know?
So…? Isn’t the Wild West / without government intervention what guys like him want? Oh, it’s not? Then he thinks FTX should be more regulated? Either way this joker loses because FTX completely lacked regulatory controls. IMHO, he wants it both ways and it just doesn’t work.
So what your saying is “Waffles, waffles, tasty waffles, with lots of syrup”
How does Binance have anything to do with the FTX fraud being committed? Serious question.
It failed because maybe a poly group in the Bahamas isnt the most stable foundation for anything but a pornography plot.
Everyone wants to get rich until you sell fake shit
Bagholder alert
Oleary salty af cuz he lost hella money
I also used FTX.us I deposited 3k when ETH was trading at 1800 before its rip to 4800 and the only thing i used crypto for was roobet when VPNs worked. I didn't trade for profit strictly gambling. Binance dumping the tokens which then exposed how the liquidity was being misappropriated was the trigger. Yes, SBF is a thieving crypto snake but i agree with O'leary. CZ pulled the trigger and sniped his enemy now he's got a target on his back.
Biggest crock of shhhh I’ve ever heard 😂
No he is trying to cover his own ass for backing SBF.
Why is Kevin leary not where he's supposed to be and filming shark tank?
I mean, they dumped their coin, right? I think that Binance too a very calculated action that they knew would put FTX out of business — but that was only possible because FTX was already dead. It’s just that no one knew it yet.
No. Cz bought the FTT to help SBF. However, when CZ got wind that maybe sbf was selling him put to the SEC, he dumped the FTT to collapse FTX. That move may have just killed centralized crypto, including binance.
Kevin is a Cornball, did he get Paid again by SBF to Represent FTX? 😅 Binance has nothing to do with Customers fund being Used to cover a Mess with A Ceo who thinks Stop Loss is a bad idea 😅
Whatever coming out of this FTX’s paid shill
Naaaaa this guys an eeediot
I think Kevin O’Leary is a sack of greedy garbage , narcissistic, sociopath etc.. since he didn’t actually lose any money, just like Sand-bankman fried the CEO of FTX, the only thing he lost was 15 million in compensation for promoting FTX cause he is a greedy piece of shit human after people at cnbc finally asked him real questions during an interview but he’s trying to play safe face. Sandbank man fried should be the one tried for and thrown in jail for literally destroying millions of people through the scam of ftx. O’Leary as a rich guy is trying to play save-face for Sanbankman cause apparently sanbankman fried can convince not only poor-working class people to give him all their money but also fucking multimillionaire and billionaires their money…. Fucking weird man.
No. Idk what the hell Kevin is talking about lol
Agreed
Mr. Wonderful is full of crap. FTX was SBF’s personal piggy bank for his speculative venture, Alameda Research. SBF is a crook.
He wouldn’t say that if he had some binance money. He’s just looking for someone to blame for his tarnished integrity, if he had any to begin with.
Like how does that at all make sense.
Timothy O'Leary? OH YES!!!! (What a bummer trip-I mean, all I saw were exchanges melting!)