Kevin O’Leary says Binance put FTX out of business

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Kevin O’Leary says Binance put FTX out of business Kevin O’Leary says Binance put FTX out of business Oluwapelumi Adejumo · 15 hours ago · 1 min read

Binance CEO previously criticized O’Leary penchant for defending Sam Bankman-Fried and FTX.

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Updated: December 14, 2022 at 5:37 pm

Kevin O’Leary says Binance put FTX out of business

Cover art/illustration via CryptoSlate

Haru Invest

Shark Tank investor Kevin O’Leary said at the Dec. 14 Senate Banking Committee on FTX’s collapse that Binance put the crypto exchange out of business.

While answering a question on why he thought FTX failed from Senator Pat Toomey, O’Leary said:

“I have an opinion, I don’t have the records. Here it is… These two behemoths that own the unregulated markets together and ruled these incredible businesses in terms of growth were at war with each other. And one put the other out of business intentionally.”

He added that while there may be nothing wrong with that but noted that “Binance is a massive global monopoly now.”

In his planned testimony before the committee, O’Leary said he has applied for membership on the FTX creditors’ committee.

Binance CEO Changpeng Zhao previously criticized O’Leary’s penchant for defending Sam Bankman-Fried. According to CZ, the shark tank investor was aligning with a fraudster because of $15 million.

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