Kevin O’Leary Says New Crypto Exchange Will Compete With Binance, Become the Largest Ever To Be Regulated
Shark Tank star Kevin O’Leary has revealed that a new cryptocurrency exchange is on the way and is set to take away business from the industry’s top players.
In an interview with Fox Business, O’Leary stated that the era of the “crypto cowboy” is over, and a new firm called M2 in Abu Dhabi will become the largest regulated crypto exchange globally. He emphasized that it is backed by billions in capital with connections to large institutional players.
O’Leary predicts that M2 will compete directly with Binance and could potentially take away half of its accounts due to its compliant nature and strong financial backing. However, it is noted that Americans will not be able to register on the platform.
The investor also expressed his desire to be an early investor in the project despite his prior endorsement of FTX, which collapsed following its CEO’s arrest on fraud charges.
Hot Take
While there has been no official announcement about the launch of M2 yet, O’Leary’s statements suggest that there could be a major shakeup in the cryptocurrency exchange landscape in the near future.
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