Billionaire Kevin O’Leary said that cryptocurrency exchanges will continue to go to zero until regulation takes effect. As Kriptokoin.com, we have compiled the statements of the crypto money billionaire for you.
Crypto billionaire warns
Crypto exchanges will continue to go to zero until regulation goes into effect, according to a tweet from cryptocurrency billionaire, popular investor and Shark Tank host Kevin O’Leary. O’Leary believes that a lack of regulation is the reason unregulated exchanges exploded and failed.
In his interview, he emphasized that these unregulated exchanges encourage account holders and users to purchase centralized ‘worthless’ tokens to receive discounts on transaction fees. O’Leary also states that cryptocurrencies themselves are not the bad guys, but it is all the rogue players and these unregulated exchanges that are causing the problems. O’Leary believes that all these negative elements, which he calls ‘nonsense’, will eventually dissipate as the market becomes more regulated.
He suggests that a regulated crypto market would be very interesting and would benefit everyone. O’Leary anticipates that a passport system will be launched by regulators in major markets that require certain rules to be followed in order to operate, such as the United States, Canada, Switzerland, United Arab Emirates, South American markets, and others.
Ripple CTO David Schwartz criticized Binance for blaming FTX’s collapse. During a Senate Banking Committee hearing, O’Leary claimed that Binance intentionally disabled FTX. Schwartz responded by stating that O’Leary had raised these claims against an ‘absurdly large amount of evidence’. Recently, Bahamian authorities arrested FTX founder Samuel Bankman-Fried after US federal prosecutors charged him with fraud. The SBF faced new charges earlier this week.
Billionaire talked about artificial intelligence
Another major selling point for O’Leary is the financially lucrative recurring revenue associated with ChatGPT. According to O’Leary, some of his employees subscribe to the premium ChatGPT feature for $20 per month. This feature allows users to access the service while the free version is turned off. ‘They’re suddenly getting an income because they’re so popular,’ O’Leary said.
Ultimately, O’Leary believes OpenAI-owned ChatGPT could change the game in the Google-dominated search engine market.
Wedbush tech analyst Dan Ives wrote in a note, “While it initially seemed like Google rushed to market Bard with the Microsoft ChatGPT deal and the event that eclipsed the company, the race will be long and it will be a long time since Google, as well as Apple, Meta and other tech giants, will have these artificial We expect them to spend billions on intelligence.’ said.
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