Shark Tank star Kevin O'Leary warned back in February that the cryptocurrency industry was filled with many worthless coins and projects, most of which had no future.

What Happened:  O'Leary said at the time that 10,000 crypto tokens are likely to be completely devalued to zero.

“They’ll eventually just go to zero because of lack of volatility and lack of volume. They’re irrelevant. And so that will also be flushed out of the market,” he said in an interview with Scott Melker.

O'Leary also said that crypto exchange Binance may be subject to intense regulatory scrutiny in the near future.

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“I would think, whoever the shareholders are of Binance, would be concerned about all the regulatory activity like bees humming around a hive right now. Not just the US regulators – all the regulators.”

Earlier in January, O’Leary said he had been going back to the crypto markets recently. “Anytime Bitcoin (CRYPTO: BTC) drops below $17k, I add to our positions there.”

This story was originally published on Feb. 7, 2023.

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