- Shark Tank judge and Canadian entrepreneur Kevin O’Leary speaks about FTX’s demise.
- O’Leary was paid $15 million to be the spokesman of the now-defunct exchange.
- Post the collapse, he lost all of the $15 million.
Canadian entrepreneur, Shark Tank judge, and CNBC contributor Kevin O’Leary reveal that he lost $15 million that FTX paid him. He revealed on CNBC that the now-defunct cryptocurrency exchange FTX paid him $15 million to be the exchange’s spokesperson.
However, things didn’t go as expected as the $32 billion empire collapsed, and all the celebrities that promoted it came under scrutiny. Celebrities including Tom Brady, Kevin O’Leary, and others were sued by the investors who stated that they failed to conduct due diligence before promoting Bankman-Fried’s exchange.
O’Leary admitted that he fell prey to “groupthink” and that not even one of his investment partners lost money. CNBC Squawk Box hosts also roasted him on the show for failing to do a proper analysis of FTX before making an investment.
Total deal was just under $15 million, all in. I put about $9.7 million into crypto. I think that’s what I lost. I don’t know. It’s all at ...The post Kevin O’Leary Reveals He Got Paid $15 Million to be FTX Spokesperson appeared first on Coin Edition.