Kevin O’Leary of Shark Tank claimed that FTX paid him $15 million to serve as the crypto exchange’s spokesperson. One of the few famous people who was sued by FTX shareholders and lost their stake in the company was Kevin O’Leary. Several others are Larry David, Tom Brady, Gisele Bundchen, Shaquille O’Neal, and Stephen Curry.
They were named in a class action lawsuit accusing FTX and its “brand ambassadors” of misleading consumers into making investments in the business.
Good Morning Everyone! Kevin O’Leary got paid $15MM to be FTX spokesperson… pic.twitter.com/iSjZZ8VZq5
— Genevieve Roch-Decter, CFA (@GRDecter) December 8, 2022
The Shark Tank celebrity also disclosed that the bankruptcy protection process had rendered his over $1 million in FTX equity worthless. Additionally, Mr. Wonderful added that the remaining $4 million or so was allegedly consumed by taxes and agent fees.
He conceded: It was not a good investment.
Kevin O’Leary described Bankman-Fried as one of the best traders
On November 11, FTX declared bankruptcy, and Sam Bankman-Fried (SBF) left his position as CEO. The business is currently under investigation for improper handling of customer money. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” FTX’s new CEO John Ray told the bankruptcy court.
O’Leary has asserted that Bankman-Fried is one of the best traders in the cryptocurrency space. However, despite saying that he lost millions of dollars in the FTX collapse. Even so, if he started a new venture, he would support him once more. Since the majority of people think that Bankman-Fried is a fraud and a conman, this has shocked the cryptocurrency industry. The FTX collapse has been compared by some to Bernie Madoff’s Ponzi scheme.
According to Bankman-Fried, he did not intentionally commit fraud. Bill Ackman, a multibillionaire hedge fund manager, expressed a similar belief that SBF was telling the truth to O’Leary. Additionally, O’Leary, just before FTX collapsed and had to file for bankruptcy, he came close to securing.
Also Read: Shark Tank Kevin O’Leary Make A U Turn On FTX And SBF
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