By Jamie G - Crypto Specialist - 12-08-2021
Kevin O'Leary is now contracted to be the spokesperson for the cryptocurrency exchange platform. Part of the agreement is that O'Leary will be compensated in crypto-assets and own a portion of the company.
After agreeing to become the official spokesperson for FTX, the Shark Tank Presenter will also take an equity share in FTX Trading Ltd. and West Realm Shires Services Inc. O'Leary also requested that he be paid for the Ambassadorship in investments in cryptocurrency; this is to enhance his holdings further.
The venture capitalist who has also been known as "Mr. Wonderful" has stated in a Tweet that he's recently "solved" his crypto compliance issues. O'Leary further said that he has the intention to utilise his work with FTX to manage his crypto portfolio through the platform.
While announcing his partnership with FTX, O'Leary discussed that many institutional investors are indecisive about investing in cryptocurrency. The indecisiveness comes from the same compliance-related problems that O'Leary has reportedly faced. Furthermore, Kevin reportedly stated that her wanted to grow his "crypto exposure but also serve my compliance mandates."
However, cryptocurrency trading has not always been on the mind of Mr. Wonderful, as regulatory compliance in the crypto industry has been long source of concern for the new-found investor. An example of his previous problems and also ideals is in 2019 he previously indicated that crypto does not interest him in the slightest due to it not being compliant.