OShark Tank investor says Abu Dhabi plans to launch new crypto exchange

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OShark Tank investor says Abu Dhabi plans to launch new crypto exchange

Kevin OLeary, the investor behind OShark Tank, said that Abu Dhabi plans to launch a new exchange called M2 to replace both Binance and FTX.

This platform will be fully Compliant, backed by significant financial resources, and offer transparent ownership, he said.

It is going to be completely compliant, backed by billions of dollars, incredibly stable, ownership transparency, and it can be used legitimately by anybody in the world legitimately on a compliant basis, he said.

The regulatory challenges in the U.S. included the legal issues faced by Coinbase COIN, O'Leary said.

He also worries about the obstacles faced by giants such as BlackRock BLK and Fidelity FNF in launching their ETFs.

''T do their ETF,' OLeary said. '' The emergence of compliant exchanges like M2 could be a game-changer in the crypto industry.