OShark Tank investor OSharktank investor Oshark Tank's investor Oscreens for new exchange

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OShark Tank investor OSharktank investor Oshark Tank's investor Oscreens for new exchange

Kevin OLeary, OShark Tank's investor, said that Abu Dhabi is planning to launch a new exchange called M2 to replace both Binance and FTX.

A fully compliant platform is expected to be available, backed by substantial financial resources and will offer transparent ownership, he said.

It is going to be totally 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.

O'Leary emphasised the regulatory challenges in the U.S. and highlighted the legal issues faced by Coinbase COIN.

He also expressed concern about the hurdles faced by giant firms such as BlackRock BLK and Fidelity FNF in launching their ETFs.

OLeary said the emergence of compliant exchanges like M2 could be a game-changer in the crypto industry.