Shark Tank star Kevin O Leary says he lost millions after FTX collapse

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Shark Tank star Kevin O Leary says he lost millions after FTX collapse

Kevin O'Leary, a Shark Tank investor who talked about the fallout from FTX's bankruptcy, explained how he went from calling it garbage to it causing the murder of his money.

O Leary said he saw an opportunity after the governments of Canada, Switzerland and Australia all got behind cryptocurrencies.

He said that he had to wait a second. I had to be an investor. O Leary said he felt that getting involved in FTX would give him an inside seat in the company.

The Shark Tank star also revealed that he lost millions after FTX collapsed. His most recent comments came just weeks after he said he would still back disgraced FTX founder Sam-Bankman Fried if he had the chance.

I put about $9.7 million into criptocurrency. I think that is what I lost. I don't know why my account was scrapped a couple of weeks ago. All the data, all the coins, everything. I lost the money I invested in the equity as well. O Leary said that those are zeros as well as zeros on the CNBC show Squawk Box. O Leary pointed out that it was only a fracton of it. The total deal with FTX was just over $15 million all-in. The deal included a bunch of agents from the powerful Screen Actors Guild, according to O Leary.

But not everyone felt sorry for O Leary, who served as a spokesman for FTX before the company's rapid downfall. The FOX Business host Charles Payne grilled O Leary and others like him for feeling sorry for themselves. I lost a lot of money. He said no one gives a damn how much you lost.

Genevieve Roch-Decter, the CEO of Grit Capital, took aim at O Leary on Making Money Wednesday for telling her he would invest again in Bankman-Fried.

She told Payne that she was shocked. Even after the facts came out of the bankruptcy proceedings, he said that Alameda Research and FTX lost money from inception to the end of 2021. I don't know how much bigger an advantage you can have than doing that. O Leary appeared on the YouTube show Crypto Banter around three weeks ago, telling thousands of live viewers that he would invest in Bankman-Fried again. He was one of the most brilliant traders in the universe of criptocurrencies. O Leary changed the subject when asked about Bankman- Fried's possible guilt behind the FTX disaster on Thursday.

He said there was only the murder of my money in this case.

O Leary said that if you want to say he's guilty before he's tried, you just don't understand it.

The investor of Shark Tank stated that he remained an advocate for the industry of criptocurrencies.

He said that the promise of criptocurrency remains. O'Leary said that the behind-the-scenes institutional interest in FTX on the U.S. equity was unbelievable. The amount of people approached me saying how can I get a piece of the deal. But he emphasised that the money he lost was all his and not anybody else s.

I have lost all of my money, except mine. Not a single dollar that I lost. That is important for me, he said.

He concluded that it was not a good investment. I don't make great investments all the time. I make more good ones than bad ones, but that was a bad one. Bankman- Fried will testify before the House less than a week from now, according to a recent tweet.

Waters, and the House Committee on Financial Services, once I had finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain. He said when it does, I will testify.