Kevin O'Leary: I would definitely invest in Sam Bankman-Fried's next venture
Kevin O'Leary Will Fund Sam Bankman-Fried's Next Project Despite FTX Exchange's Troubles
Kevin O'Leary, the renowned investor and popular Shark Tank show host, recently expressed his support for Sam Bankman-Fried, the founder of FTX exchange and its Alameda subsidiary. Despite the ongoing troubles faced by FTX, O'Leary stated that he would fund Bankman-Fried's next project.
"You can love or hate him for what happened. But, of course, he was one of the most brilliant traders in the crypto-currency field. I would provide funds to the new Bankman-Fried company,"
Kevin O'Leary said in a conversation with Onchain Capital CEO Ran Neuner during the Crypto Banter program.
In a conversation with Onchain Capital CEO Ran Neuner on the Crypto Banter program, O'Leary acknowledged that Bankman-Fried would have to overcome several obstacles. Nevertheless, the investor still has a lot of respect for the FTX founder and expressed sympathy for his situation.
While some may hold varying opinions about Bankman-Fried's actions, he has made a name for himself in the cryptocurrency trading industry as one of its most brilliant traders. According to O'Leary, this is why he is willing to provide funds for Bankman-Fried's next venture.
FTX, the cryptocurrency exchange founded by Bankman-Fried, is currently facing bankruptcy. While the exchange's problems may be solvable, it has been reported that FTX has accrued a debt of $9 billion and other various encumbrances.
The company holds sufficient assets, but the problem is that these assets are either low-liquid or entirely illiquid. Furthermore, their prices have declined significantly following the initiation of the bankruptcy process.
Despite these challenges, O'Leary remains confident in Bankman-Fried's abilities and is willing to invest in his future endeavors. It will be interesting to see how this situation unfolds and whether Bankman-Fried's next project will receive funding from O'Leary.
