Kevin O’Leary buys more crypto, gets paid in crypto, partners with FTX Exchange

[ad_1]

Shark Tank star Kevin O’Leary aka Mr. Wonderful increases his cryptocurrency allocation. It also takes a stake in the capital of the FTX crypto exchange and has signed a multi-year agreement to become its ambassador and spokesperson. He will be paid in crypto for his services.

Kevin O’Leary increases his crypto allocation

Shark Tank’s Kevin O’Leary has revealed he’s increasing his cryptocurrency allocation. He tweeted on Tuesday:

Finally solved my cryptocurrency compliance issues. I will be using FTX to increase my allocation and use the platform to manage my portfolios.

His tweet followed FTX Trading Ltd. and West Realm Shires Services Inc., owners and operators of FTX.com and FTX.us, respectively, announcing “a long-term relationship” with O’Leary.

Mr. Wonderful will take a stake in both companies and will be “paid in crypto to serve as an ambassador and spokesperson for FTX,” the announcement details, adding:

He requested that his compensation for these services be paid in crypto assets and be managed on the FTX platform.

O’Leary told gold bug Peter Schiff on Wednesday that the reason he’s increasing his crypto allocation is because he’s making money with it.

Schiff accused CNBC of relentlessly pumping bitcoin when the media network called O’Leary a “long-time crypto promoter.” Schiff said: “This is a lie. He was a longtime crypto-skeptic, who recently changed his tone after getting involved with crypto-related companies. It’s just a paid shill.

O’Leary responded by telling Schiff to “get over it,” adding that when the facts change, he changes. The Shark Tank star further revealed, “I am increasing my cryptocurrency allocation because I am making money with it. It’s that simple. “

Regarding crypto compliance, O’Leary said, “Institutional investors find it difficult to make the decision to invest in crypto assets, not because they don’t want to, but because they struggle to know for sure that they will be 100% compliant with regulators and reporting requirements. I am no different. He concluded :

I want to increase my exposure to crypto but also serve my compliance mandates.

O’Leary said in February that he had invested 3% of his portfolio in bitcoin and ether, noting that cryptocurrencies were “here to stay.”

What do you think of O’Leary increasing his crypto allocation and his deal with FTX? Let us know in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, nor a recommendation or endorsement of any product, service or business. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or allegedly caused by or in connection with the use of or reliance on any content, good or service mentioned in this article.

[ad_2]