Shark Tank Star will be paid in crypto by FTX for serving as a brand ambassador

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FTX Trading Ltd., the company behind the popular FTX crypto-asset trading platform, has announced a long-term relationship with famous investor Kevin OLeary (aka Mr. Wonderful in the ABC Shark TV series Tank).

According to the press release, OLeary, a popular host of the hit investment show Shark Tank, will take a stake in both FTX Trading Ltd. West Realm Shires Services Inc., who own and operate FTX.COM and FTX. United States respectively.

The FTX press release went on to say that OLeary will also be paid in crypto to serve as an ambassador and spokesperson for FTX.

OLEary said its decision to partner and invest with FTX was driven by uncertainties about crypto-assets in the institutional investor community:

Institutional investors find it difficult to decide to invest in crypto assets. Not because they don’t want to, but because they struggle with knowing for sure that they will comply 100% with regulators and reporting requirements. I am no different.

Additionally, OLeary mentioned that he wanted to increase his exposure to crypto while fulfilling compliance mandates, which prompted him to forge a relationship with FTX:

FTX harnesses cutting-edge technology to deliver a quality trading experience with low fees to professional and retail investors, while at the same time providing the reporting platform that meets internal and regulatory compliance requirements.

The press release claims that OLeary has signed a multi-year agreement to serve as a spokesperson for the FTX brand in addition to becoming a shareholder. He also specifically requested that his services be paid for in cryptoassets and managed on the FTX platform.

Sam Bankman-Fried, Founder and CEO of FTX, said he was delighted to see a true icon join as a partner. He also highlighted OLearys’ emphasis on the importance of compliance and developing trustworthy partners.

Warning

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading crypto-assets carries a risk of financial loss.

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