Kevin O’Leary of ‘Shark Tank’ is now officially a spokesman for FTX. It will be paid in crypto. Kevin O’Leary is a Canadian writer, entrepreneur, and television personality from Montreal. He has signed a multi-year contract to become a brand ambassador and spokesperson for FTX and will be paid in crypto assets as well as take an equity stake in FTX.
According to Tuesday’s announcement, the partnership with FTX Trading Ltd. and West Realm Shires Services Inc. (owner of FTX.US and FTX.com) will have O’Leary take an equity stake in both companies.
Previously, O’Leary was among those who opposed and rejected crypto, even this 67-year-old man revealed in 2022 that he would not invest in crypto because he thought it was bullshit. But now he is actually interested in investing in crypto and forming a partnership with FTX, one of the largest derivatives exchanges in the world.
Want to Increase Crypto Exposure
O’Leary, also known as “Mr. Wonderful,” noted in his announcement that institutional investors are still struggling with the decision to invest in crypto assets. Because according to him, institutional investors still have concerns, especially regarding regulations, compliance to applicable tax rules. This is because institutional investors certainly have financial statements that need to be accounted for.
“I want to increase my crypto exposure but also stick to my compliance with the rules. When it comes to rapidly changing tax compliance and reporting requirements, the current cryptocurrency ecosystem is full of risks that I cannot take. To find crypto investment opportunities that meet my strict compliance standards, I chose and forged this relationship with FTX,” he said.
O’Leary has been tasked with elevating the brand to a large audience and has worked on social media promoting the awarding of NFT FTX CryptoPunk tokens. The entrepreneur also has a knack for creating colorful nicknames for crypto, and in January, he called Bitcoin (BTC) a “giant nothing-burger” due to its inconsistent regulatory framework across the globe. He also described BTC mined in an environmentally unfriendly way as “Blood Coin.”
But from being against Bitcoin he has changed his tone on Bitcoin and revealed plans to allocate 3% of his investment portfolio to BTC in March. This week, he referred to Ethereum as “ultrasound money” in a Cameo video.
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