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Kevin O’Leary Explains Why Blockchain Will Reveal The Truth Behind FTX’s Collapse: “It’s Gonna Get Clean”

Chairman of O’Shares ETFs and renowned “Shark Tank” investor Kevin O’Leary recently talked about doing business with the embattled crypto exchange FTX, and its former CEO Sam Bankman Fried.

During a recent interview, O’Leary said he was surprised by FTX’s collapse, but said the truth about the company would be uncovered during the legal battle. He will share more of his thoughts on the latest developments in the crypto industry at Benzinga Future of Crypto Event on December 7 at Pier 60 in New York.

According at O’Leary, blockchain data will shed light on the crypto exchange because every transaction is recorded.

“The unique thing about this situation compared to other financial meltdowns, calamities and disasters, everything that happened here is on the blockchain. Every transaction is recorded. You may not know who is the wallet, who owns it or stole it, or whatever. Those allegations are, but every transaction will be found, so there’s no hiding it. It’s going to be clear,” a said O’Leary.

“At the end of the day, it has to be facts. Everything has to be guided by truth, and we don’t have that yet, so I would like to get the truth; that’s what I’m looking for,” he said. note.

“During this process, we will see the truth when the litigation comes down to the fact. That’s what’s going to happen. So look, I wouldn’t have been involved in this, but that doesn’t change what I’m doing. , and that doesn’t change my transparency policy,” O’Leary added.

Read also : Here’s why Kevin O’Leary is betting on Elon Musk to top the Twitter deal

In a Friday tweet, O’Leary said he lost millions as an investor in FTX and was “blasted” as the crypto exchange’s paid spokesperson.

Speaking of FTX’s bankruptcy, O’Leary said, “I don’t succeed every time. I don’t. I’ve made thousands of investments, but not all of them are winners. All of us who have talked about that, all of us on this cap table, we’ve all talked to each other, we’re stunned, but we don’t have any answers yet, so I’d like to know how this one went.

FTX collapsed and filed for bankruptcy on November 11, and it is estimated that around one million customers and investors lost billions of dollars in the collapse.

Photo: Courtesy of Shutterstock.

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