Star name of “Shark Tank” program Kevin O’Learythinks that the crypto market will record big crashes in the future.
In an interview with Kitco News on January 17, O’Leary noted the lack of regulations that could minimize the impact of bad guys. According to the venture capitalist, this deficiency can trigger many problems.
“I’m not worried, but if you’re asking if there will be another crash, I think it certainly will. There is a possibility that this will happen not once, but many times… I don’t think it has to be a regulation. Such arrangements will not change fraud. It will just help people understand what the rules are.”
What Will US Crypto Regulations Be Like?
According to O’Leary, it is quite possible that authorities will enact a regulatory framework soon. Indeed, he emphasized that holding hearings after the crypto crashes did not benefit the industry.
“The good thing about these sessions in the Senate, like I wanted to say, was awareness, and I attended the last hearings. When I had the opportunity to talk to the Yeti, I felt that they were now disappointed. They’re tired of holding these sessions every six months when one of these crypto companies explodes and goes to zero. They are so disorganized…”
NEWS CONTINUES BELOW
Koinfinans.com As we have reported, O’Leary FTX It had become the center of controversy after its affiliation with the crypto exchange. The famous name, who serves as the spokesperson of the exchange, claimed that the collapse was not caused by fraud allegations against founder Sam Bankman-Fried, but by the actions of Binance CEO Changpeng Zhao.
He made these claims ahead of a US Senate session investigating the collapse.
FTX Crash and Edits
In particular, O’Leary stepped up his efforts for crypto regulations after the FTX collapse. Indeed, he argued, the FTX crash would not have occurred had the sector been regulated. In addition, Bankman-Fried also brought charges against Zhao.