Shark Tank Host Kevin O’Leary Warns Crypto Exchanges Will Keep ‘Going To Zero’ Unless This Happens
By Benzinga
Shark Tank host Kevin O'Leary said that the only way crypto exchanges will stay afloat is by imposing regulations.
What Happened: O’Leary tweeted on Friday, “We’re going to keep seeing these crypto exchanges going to ZERO, until we actually force regulation on these guys.”
We’re going to keep seeing these crypto exchanges going to ZERO, until we actually force regulation on these guys.
— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) February 23, 2023
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Last week, O’Leary joined Trader TV’s live stream for an interview and said that regulations, including “massive fines,” are deterring prospective crypto investors.
Earlier this month, the SEC ordered Kraken, a prominent crypto exchange, to shut down its staking program and pay a fine of $30 million.
This sends a message to investors that regulators are “cracking down” on crypto companies, making investments less attractive, O'Leary said.
"These senators are really — they're fatigued, they're really tired of gathering every six months when the next crypto company blows up and goes to zero,” O’Leary said.
“And the regulators are being applauded on by the senators and the congressmen and women who are saying, what is this? We've had enough of this stuff."
