Kevin O’Leary Takes Swipe At FTX, Binance While Lauding Launch Of New Crypto Exchange: ‘This Is The End Of A Long Period Of Crypto Cowboyness’

Last week, the president of O'Shares Investment Advisors and renowned Shark Tank Inverter Kevin O'Leary shared a video on Instagram endorsing the new M2 cryptocurrency exchange.

during the short videowhich was filmed at the M2 launch event in Abu Dhabi, United Arab Emirates, O'Leary shared how M2 will become the most regulated cryptocurrency exchange and backed by substantial financial support from reputable institutions amounting to thousands of millions of dollars.

"You know what's been happening lately in the cryptocurrency world. It's not good stuff. All the cryptocurrency cowboys have been taken down by regulators. So where is the new home for Bitcoin and all the other digital currencies? That's right. It's M2," he said. he said in the video.

He stated that due to the collapse of FTX and the known issues surrounding Binance, all capital must now go through M2 to comply.

“I came here because I am very interested in this. I have always thought that the potential of digital currencies is enormous. But it has to comply with regulations, it has to work within the financial system,” O'Leary said.

Also read: Kevin O'Leary Predicts This New Regulation-Compliant Crypto Exchange Will Overtake Binance and FTX

“It's the start of something amazing... I'm going to invest in this exchange, 100%. For me, this is the end of a long period of crypto cowboying,” O'Leary said, adding that he wanted to own “actual shares of this exchange.”

He also said that M2 has transparent ownership and is backed by some of the largest equity funds in the world, including Phoenix Group and IHC.

Previously, speaking exclusively with gasolineO'Leary mentioned that he is interested in M2 Exchange.

"Abu Dhabi is the capital of the capital and I think something big is about to happen there," O'Leary said. “I am leaving soon for the launch of M2 and I think it will require a lot of capital. I don't know if you have a bigger one [exchange] it's emerging that it's completely compatible."

Now read: Why Kevin O'Leary says a new digital economy is emerging

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