The Canadian businessman and Shark Tank investor, Kevin O’Leary and the cryptocurrency platform FTX announced a long-term investment partnership.
According to the announcement, Mr. O’Leary will take an equity stake in both FTX Trading Ltd. & West Realm Shires Services Inc. Mr. O’Leary signed a multi-year deal to serve as a spokesperson for the FTX brand ambassador. He will also get paid in crypto to serve as an ambassador and spokesperson for FTX.
Kevin O’Leary commented on the news, “Institutional investors struggle with the decision to invest in crypto assets. Not because they don’t want to, but because they have difficulty in knowing with certainty that they will be 100% compliant with the regulators and reporting requirements. I am not different. I want to increase my crypto exposure but also serve my compliance mandates.”
He continues, “To find crypto investment opportunities that met my own rigorous standards of compliance, I entered into this relationship with FTX”.
Sam Bankman-Fried (SBF), Founder and CEO of FTX, shows his enthusiasm over the association with Kevin O’Leary.
SBF concluded: “It’s exciting to have a true icon in our corner and we’re thrilled to have a partner like Kevin that shares our views on the importance of compliance. As we continue growing, we’ll need dedicated, knowledgeable, and trustworthy partners like Mr. Wonderful.”
Also Read: Sam Bankman-Fried Says FTX Is Carbon Neutral on The CNBC
Shark Tank’s Kevin O’Leary also took it to Twitter, stating he is increasing his cryptocurrency allocation. He tweeted, “Finally solved my compliance problems with cryptocurrencies. I’m going to use FTX to increase my allocation and use the platform to manage my portfolios.”
