Coin Edition -
- Venture capitalist Kevin O’Leary promoted a new cryptocurrency exchange, M2, set to launch in Abu Dhabi.
- In a recent Fox Business interview, O’Leary stated that the era of “crypto cowboys” is over.
- O’Leary asserted that M2 will become the world’s largest regulated crypto trading platform.
Venture capitalist Kevin O’Leary shared his enthusiasm for a new cryptocurrency exchange, which he claimed will launch soon in Abu Dhabi. O’Leary stated that the crypto exchange called M2 would replace firms like FTX and Binance.
In a recent Fox Business interview, O’Leary declared the era of “crypto cowboys” was over now that regulated and stable players, such as crypto exchange M2, were emerging. He asserted that the exchange, rumored to launch within days, would become the world’s largest regulated crypto trading platform.
The days of the Crypto Cowboys are over. Abu Dhabi's M2 exchange is exactly what this industry has been searching for.An exchange that is regulated, backed by billions of dollars and tied to huge financial institutions. This is very promising for the Crypto industry. pic.twitter.com/EAEROG03Ao— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) November 14, 2023
O’Leary claimed that M2 would have billions of dollars in capital backing from major financial institutions. Moreover, he thought that the crypto exchange could capture half of its accounts from Binance. O’Leary said:
Because now you can go off something that the SEC is suing and go on to a compliant exchange that’s backed by billions of dollars and huge financial institutions.
Furthermore, O’Leary stated that no American can register in M2. However, he remains very bullish on the exchange’s potential to set a new standard, having mentioned it before in another interview on September 29.
The investor faced blowback from members of the crypto community for promoting FTX before. One user on X said, “You said exactly the same thing about FTX, and then it collapsed and SBF went to jail.”
John Deaton, founder of Crypto Law, questioned why O’Leary seemed “obsessed” with criticizing Binance and its CEO, Changpeng Zhao. Deaton added that O’Leary even assigned more blame to Zhao than Sam Bankman-Fried for FTX’s collapse.
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