Kevin O'Leary voorspelt meerdere crypto-meltdowns

• Kevin O’Leary stated that there are plenty more such “meltdowns” to come and all unregulated exchanges will collapse like FTX.
• “It’s very hard to find an auditor that wants to touch this stuff right now because of the unregulated cowboy environment,” he said.
• The popular investor stated that if crypto exchanges are not transparent and don’t undergo audits, institutions won’t work with them.
• “Any time Bitcoin drops below $17,000 I add to our positions there,” O’Leary confirmed.

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The crypto market is gradually healing from the collapse of multiple crypto firms in 2022, and the last thing that the industry needs is another implosion. Interestingly, Shark Tank star and renowned investor Kevin O’Leary recently commented on the latest collapse of crypto exchange platform FTX, stating that there are plenty more such “meltdowns” to come.

tijdens een interview with Kitco anchor David Lin, the investor said that the unregulated crypto exchanges would continue to fall like the once-leading exchange FTX. O’Leary, who is known for its support to now-bankrupt FTX, said that the meltdown was just one in a long line of “unregulated exchanges” likely to collapse. He stated:

“If you’re asking me if there’s going to be another meltdown to zero? Absolutely. 100% it’ll happen, and it’ll keep happening over, and over and over again.”

Notably, unregulated exchanges are ones that don’t follow similar operational procedures to conventional stock exchanges and brokerages, aren’t registered with and governed by a securities commission, and aren’t subject to routine auditing. O’Leary stated that the so-called “unregulated” exchanges are currently facing massive outflows. 

“They saw what happened at FTX and they’re not sitting around for an explanation,” he added.

The Shark Tank star went on to issue a stern warning to such cryptocurrency exchanges and said, “If you’re not willing to be audited, […] you don’t have an audit, you don’t want to be transparent, you don’t want to disclose ownership, why should institutional capital stay? Of course, it’s not going to.”

De FTX-crash, die investeerders in cryptocurrency in een staat van enorme shock bracht, leidde tot grote zorgen van de gemeenschap voor meer transparantie van crypto-uitwisselingen. Vijf gecentraliseerde beurzen, waaronder Binance, de grootste cryptocurrency-uitwisseling ter wereld, voltooiden hun proof-of-reserve-audits binnen enkele weken, en verschillende andere kondigden plannen aan om dit voorbeeld te volgen.

Nevertheless, a senior official from the United States Securities and Exchange Commission (SEC) cautioned that proof of reserves doesn’t accurately represent a company’s financial position and urged investors to be “very wary” of these companies’ claims.

Hoewel crypto-investeerders twijfels hebben over de werkelijke financiële draagkracht van deze bedrijven, leken een aantal auditors, waaronder Mazars, die Binance had gecontroleerd, ook van gedachten te veranderen. Het bedrijf stopte naar verluidt in december met het uitvoeren van proof-of-reserve-audits voor cryptocurrency-bedrijven en verwijderde zelfs de audit voor Binance.

Other auditing companies, including FTX’s auditor Armanino, have also cut their ties with cryptocurrency exchanges, including OKX and Gate.io. O’Leary commented on the matter by stating:

“Frankly, you know, it’s very hard to find an auditor that wants to touch this stuff right now because of the unregulated cowboy environment. It’s all going to end and yes, there’ll be many more zeros.”

Het is cruciaal op te merken dat uit een decemberrapport van het National Bureau of Economic Research (NBER) blijkt dat meer dan 70% van het volume op niet-gereguleerde uitwisselingsplatforms wash-trading is. 

Despite the ongoing chaos, O’Leary continues to increase his crypto investments.

“I have been going back into crypto markets lately. Any time Bitcoin drops below $17,000 I add to our positions there. Crypto is getting very interesting because we’re finally starting to see the bearer of regulation coming into play and I think long-term that’s a good thing,” O’Leary said.

It is crucial to note that Kevin O’Leary had a major stake in the now-bankrupt crypto exchange FTX, and he even went on to become the face of the firm. As recently reported by Bitnation, the multi-millionaire wilde Sam Bankman-Fried helpen voorkomen dat zijn uitwisseling instort.

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