Kevin O’Leary, investor and venture capitalist, the one who calls himself “Mr Wonderful” or even “Shark Tank”, is apparently freewheeling. He has just named a new culprit in the sudden fall of the FTX exchange. This time, he directly attacks the chairman of the Federal Reserve of the United States, Jerome Powell.
The alleged role of the Federal Reserve in the fall of the FTX exchange
During a testimony before the Committee on Banking, Housing and Urban Affairs of the United States Senate, Kevin O’Leary was very violent. According to him, the finance industry and especially the cryptocurrency sector was doing very well in 2021. But Jérôme Powell, President of the FED, came to “massacre” everything by raising interest rates. The information was relayed by Daily Sybil. In the video of his testimony, Kevin O’Leary says “Mr. Powell has the blood of FTX and all the other protocols and companies that lacked a product/market/fit on his hands! »
Remember that the Federal Reserve is also the central bank of the United States. To fight inflation, it had to raise interest rates throughout 2022. O’Leary believes this has contributed to the crypto winter seen since the start of the year. He can be heard saying in a video of the testimony: “Finally, Mr. Powell, if you’re watching this hearing, you have to make the ticket printer go BRRRR or Mr. Wonderful’s soldiers will never get home daddy”. The soldiers he talks about actually represent the money he invested in FTX.
Is Kevin O’Leary still credible?
This is not the first time that this investor has accused a person or an institution of causing the fall of the FTX exchange. Recently, he was already accusing Binance about this. Besides, he received $15 million from FTX to become its spokesperson. Finally, O’Leary invested $10 million in FTX which he lost with the fall of the exchange. But he promised thathe would get his money back no matter what.
Listening to Kevin O’Leary, it seems like everyone is culprit for the downfall of the FTX exchange, except its own leaders. Meanwhile, hopes of being compensated are disappearing among small investors. Will the crypto industry recover now that some defenders give up the fight ?
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