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Kevin O’Leary of Shark Tank claimed that FTX paid him $15 million to function the crypto trade’s spokesperson. One of the few well-known individuals who was sued by FTX shareholders and misplaced their stake within the firm was Kevin O’Leary. Several others are Larry David, Tom Brady, Gisele Bundchen, Shaquille O’Neal, and Stephen Curry.

They had been named in a category motion lawsuit accusing FTX and its “brand ambassadors” of deceptive shoppers into making investments within the enterprise.

Good Morning Everyone! Kevin O’Leary bought paid $15MM to be FTX spokesperson… pic.twitter.com/iSjZZ8VZq5

— Genevieve Roch-Decter, CFA (@GRDecter) December 8, 2022

The Shark Tank movie star additionally disclosed that the chapter safety course of had rendered his over $1 million in FTX fairness nugatory. Additionally, Mr. Wonderful added that the remaining $4 million or so was allegedly consumed by taxes and agent charges.

He conceded: It was not funding.

Kevin O’Leary described Bankman-Fried as the most effective merchants

On November 11, FTX declared chapter, and Sam Bankman-Fried (SBF) left his place as CEO. The enterprise is presently beneath investigation for improper dealing with of buyer cash. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” FTX’s new CEO John Ray advised the chapter courtroom.

O’Leary has asserted that Bankman-Fried is likely one of the finest merchants within the cryptocurrency house. However, regardless of saying that he misplaced hundreds of thousands of {dollars} within the FTX collapse. Even so, if he began a brand new enterprise, he would help him as soon as extra. Since the vast majority of folks suppose that Bankman-Fried is a fraud and a conman, this has shocked the cryptocurrency trade. The FTX collapse has been in contrast by some to Bernie Madoff’s Ponzi scheme.

According to Bankman-Fried, he didn’t deliberately commit fraud. Bill Ackman, a multibillionaire hedge fund supervisor, expressed an analogous perception that SBF was telling the reality to O’Leary. Additionally, O’Leary, simply earlier than FTX collapsed and needed to file for chapter, he got here near securing.

Also Read: Shark Tank Kevin O’Leary Make A U Turn On FTX And SBF

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