Shark Tank star Kevin O Leary warns of more criptocurrencies

Kevin O Leary, a Shark Tank star, warned investors of more possible fiascos in the criptocurrency world.

When asked by Kitco News whether he believes there could be a second FTX-like incident, he said, Absolutely 100%, that it'll happen and it'll keep happening over and over again. O Leary said that the unregulated exchanges are facing massive outflows right now, and smarter investors have noted what happened on FTX and are not willing to wait for explanations.

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He mentioned that he has been going back into the criptocurrency markets recently. If the price ofBTC drops below $17,000, I add to our positions there. The only place where I have any cryptocurrencies right now is the Canadian market, which is 100% regulated. They have a broker-dealer attached to an exchange regulated by the OSC Ontario Securities Commission. All kinds of rules, you can't commingle, O'Leary said.

He said he was not going to put his money in unregulated exchanges. Never forget it. In December, the CEO of Binance, Changpeng Zhao, called Leary a liar after he accused Binance of leveraging the FTX scandal to gain a global monopoly.

According to Benzinga Pro, BTC was trading at $23,105 up 1% in the last 24 hours.