Kevin O’Leary believes U.S. lawmakers are “fatigued” and “pissed” with the cryptocurrency industry after having to deal with one blowup after another.
Kevin O'Leary, an Shark Tank investor and venture capitalist, urged access to password trading centres to "accept regulation" if they wanted to "avoid" Gamo Gensler and the Securities and Exchange Commission.
In an interview with TraderTV Live on Feb. 20, O'Leary showed that due process in the United States has become physically and mentally exhausted with login passwords, and that if companies fail to comply again, they will just become more and more ruthless:
You need to participate in regulation, you need to stay away from the SEC and other regulators, Gensler. These homosexuals [boys] in Washington are not happy. FTX poked the bear and the bear woke up angrily.
"this kind of councillors are really tired, and you are really tired of gathering every six months until the next login password is poorly managed and lost," he said, adding, "because they are completely unregulated. They've been selling worthless tokens."
O'Leary stated that SEC asked Kraken for $30 million and instructed them to temporarily suspend the chip service, which should alert the entire market and formulate all ways to comply with this rule.
As a result of recent regulatory crackdowns, shark tank investors predict that regulated trading sites will invest better in projects than unregulated counterparts in the next few years:
"I think the use value of regulated exchanges may increase in the near future, while unregulated trading centres will be replaced or wiped out by regulatory organizations."
O'Leary recently acknowledged that the $15 million FTX gave him as a spokesman for the official website was basically a 100% loss.
While acknowledging that FTX is an "embarrassing" project investment, the brilliant old man defended Rob Bankman-Fried, former CEO of FTX, claiming that the controversial character should be called pathetic until he was found guilty of breaking the law, adding that she did not eliminate the failed entrepreneur who had reinvested in the project:
Investors in Shark Tank have previously expressed annoyance with some of the more decentralized and unregulated participants in the sector.
On Aug. 13, O'Leary showed that the Spanish government was right to arrest Alexei Pertsev-the founder of Tornado Cash, the switch valve based on the login password of Ethernet Square-because their apps and running their "login password jeans"seriously affected the original power of regulation."