Kevin O'Leary says FTX account holders should recover funds first before shareholders: 'We're big boys'
FTX account holders should get their money back in bankruptcy proceedings before the shareholders do, according to former company spokesperson Kevin O'Leary. that venture investors like himself were aware of the risks associated with their stake in FTX, which collapsed last month with billions of dollars more in liabilities than assets.
"The shareholders, of which I'm included, I'm in both of these groups. I don't think we should get anything back," O'Leary said."We're venture investors. We're big boys, we lost our money, we understand it. I don't want anything back until the people who had money in their accounts get theirs back." He added that the attempt to recover funds from the now defunct cryptocurrency exchange is a"classic case of 'follow the money,'" and said"we know as venture investors we're going to get it wrong 80% of the time."that he and other investors failed to conduct proper due diligence when investing in the company.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Shark Tank host, FTX investor Kevin O'Leary defends Sam Bankman-Fried'Shark Tank' host and FTX investor Kevin O'Leary defends Sam Bankman-Fried for demise of his cryptocurrency exchange
Leer más »
Distressed Crypto Platform Amber Group Secures a $300 Million FundraiserThe funds will reach clients affected by the FTX crash, Amber Group outlined.
Leer más »
Shaq Says It's Not His Fault He Accidentally Shilled for FTXNBA legend Shaquille O'Neal is in damage control mode after appearing in a TV ad for the since-collapsed cryptocurrency exchange FTX.
Leer más »
More Texans give away campaign donations from Sam Bankman-Fried and other FTX affiliatesTexas politicians who received donations from FTX affiliates are scrambling to give back...
Leer más »
Democrats plan to relinquish donations from FTX founder Sam Bankman-FriedAt least three prominent Democratic groups are vowing to set aside donations from disgraced FTX founder Sam Bankman-Fried as the fallout from his cryptocurrency firm's collapse continues to fester.
Leer más »
SEC was “asleep at the wheel” about FTX - US Rep. Sessions'The SEC was asleep at the wheel for these billions of dollars that we now find out about a year later.' - Representative Pete Sessions.
Leer más »