Batik cryptocurrency Billionaire investor Kevin O’Leary, who came to the agenda when Sam Bankman-Fried, the founder of the FTX stock exchange, announced that he would invest in another initiative, gave a new statement about cryptocurrencies.
Kevin O’Leary: “Venture Finance for Cryptocurrency Is Nearly Dead, Investments Shift to Artificial Intelligence”
On February 20, O’Leary tweeted a video that aired on TraderTV in January 2023 in which he discussed some of the information he had learned about the future outlook of the digital currency, arguing that venture funding for new cryptocurrency projects was “nearly dead”:
“Venture finance for new crypto projects is almost dead, and for existing projects there are huge discounts on after-sales.
You ask why? The regulator now regulates with sanctions, penalties and large fines. The startup community has moved on to the next “big” thing, artificial intelligence.”
O’Leary explained that this was partly because of his experiences during his last visit to Washington.
Venture funding for new #crypto projects is virtually dead and aftermarket trading for existing projects is at massive discounts. Reason? the #regulator is now regulating by enforcement, penalties & massive fines. The venture community has moved on to the next “big” thing, #AI pic.twitter.com/ChpjYIY9Dl
— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) February 20, 2023
O’Leary also said that as an investor, he believes the smart move is to focus on regulated options:
“I own regulated exchanges. Wonderfi is subject to regulation. For example, it is regulated in Canada. I think regulated exchanges will increase in value over the next few years, while unregulated ones will be disabled or reset by regulators.”
The connection of O’Leary, who is closely interested in the crypto money industry, with FTX has been the subject of discussion. It was understood that the billionaire was the spokesperson of the company for $ 15 million.
*Not investment advice.
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