- Kevin O’Leary was paid $15 million by FTX to be a spokesman for the unsuccessful crypto trade.
- O’Leary explained to CNBC that he personally experienced $9.7 million in crypto tokens on the FTX system that has because been wiped out to $.
- O’Leary also owned a $1 million equity stake in FTX that has since been wiped out as the company filed for bankruptcy.
Kevin O’Leary was paid about $15 million by FTX to be a spokesman for the unsuccessful crypto trade, he reported in an interview with CNBC on Thursday.
O’Leary also claimed he had $9.7 million truly worth of crypto tokens in his FTX account that has given that been wiped out to $ amid the firm’s implosion. O’Leary also owned a $1 million equity stake in FTX that has considering the fact that been wiped out after the enterprise filed for chapter 11 bankruptcy previous month.
“The institutional desire in FTX on the US equity was unbelievable. The amount of money of people today that approached me expressing ‘How do I get a piece of this offer?’ And I said at that time, ‘I’m a paid out spokesperson, I can not carry you in as an LP.’ Not a solitary dollar that I shed was anyone else’s funds except for mine,” O’Leary claimed.
O’Leary admits that his financial investment was finally a poor just one, and that he, alongside with most other folks, was blindsided by the gross mismanagement of billions of bucks at FTX.
“We all look like idiots. We relied on every single other’s due diligence,” O’Leary reported, highlighting the groupthink among institutional buyers who required a piece of the at the time-sizzling crypto trade.
Even with vaporizing billions of dollars, O’Leary has not condemned Bankman-Fried outright, stating this week that an audit requires to be performed right before anybody can say the FTX founder is responsible of anything.
“There’s only the murder of my revenue in this situation… If you want to say he is guilty prior to he’s tried using, I just do not comprehend it,” O’Leary reported. “You do not know, due to the fact you have no details. All I’m declaring is let’s do the forensic audit.”
Now, O’Leary is on a quest to do particularly that and come across out just exactly where his and FTX customers’ money in the end went.
O’Leary claimed he talked to Bankman-Fried previous weekend and reported, “Look Sam, I am just one investor, but my account has a zero in it, and there are no accounting documents. Exactly where did the funds go?”
“I require to come across where by the income went,” O’Leary stated.
