Famous Investor and Presenter Talked About Cryptocurrency Exchanges: They Will Be Bankrupt Until This Happens!

One of the largest cryptocurrency exchanges of FTX The repercussions of bankruptcy continue. Popular investor and presenter while industry leaders give cold wallet advice Kevin O’Leary cryptocurrency He talked about the stock markets.

Kevin O’Leary Says Crypto Exchanges Will Continue to Go Bankrupt Until Regulations Are Made

According to Kevin O’Leary, stock markets will continue to go bankrupt until regulations are made. O’Leary believes that a lack of regulation is the reason unregulated exchanges go bankrupt and fail.

We’re going to keep seeing these crypto exchanges going to ZERO, until we actually force regulation on these guys.

— Kevin O’Leary aka Mr. Wonderful (@kevinolearytv) February 23, 2023

In a recent interview, O’Leary emphasized that these unregulated exchanges encourage account holders and users to purchase their centralized worthless tokens to get discounts on transaction fees.

O’Leary also states that cryptocurrencies are not bad, but all the scam players and unregulated exchanges are causing the problems.

O’Leary believes that all these negative elements, which he calls nonsense, will eventually disappear as the market becomes more regulated.

He suggests that a regulated crypto market would be very interesting and would benefit everyone.

O’Leary anticipates that a passport system will be introduced by regulators in major markets such as the United States, Canada, Switzerland, United Arab Emirates, South American markets and others, which will require certain rules to be followed in order to operate.

Ripple CTO David Schwartz criticized O’Leary for blaming Binance for the collapse of its main rival, FTX.

During a hearing on the Senate Banking Committee, O’Leary claimed that Binance deliberately bankrupted FTX. Schwartz countered that O’Leary’s claims were based on absurd evidence.

Bahamian authorities recently arrested FTX founder, Samuel Bankman-Fried, after US federal prosecutors accused him of fraud. The former crypto king faced new accusations earlier this week.

*Not investment advice.