FTX Trading Ltd., the company behind the popular cryptoasset trading platform FTX, has announced a long-term relationship with celebrity investor Kevin O’Leary (aka “Mr. Wonderful” on ABC TV series “Shark Tank“).
According to the press release, O’Leary, a popular host on the hit investing show Shark Tank, will be taking an equity stake in both FTX Trading Ltd. West Realm Shires Services Inc., which are owners and operators of FTX.COM and FTX.US respectively.
FTX’s press release went on to say that O’Leary will also be paid in crypto to serve as an ambassador and spokesperson for FTX.
O’Leary said his decision to partner and invest with FTX was prompted by uncertainties regarding cryptoassets in the institutional investment community:
Institutional investors struggle with the decision to invest in crypto assets. Not because they don’t want to, but because they have difficulty in knowing with certainty that they will be 100% compliant with regulators and reporting requirements. I am no different.
Furthermore, O’Leary mentioned that he wanted to increase his crypto exposure while also serving compliance mandates, which led him to enter a relationship with FTX:
FTX leverages best-in-class tech to provide a quality trading experience with low fees for both professional and retail investors alike, while at the same time providing the reporting platform that serves both internal and regulatory compliance requirements.
The press release claims O’Leary has signed a multi-year deal to serve as a spokesperson for the FTX brand in addition to becoming a shareholder. He also specifically requested for his services to be paid in cryptoassets and managed on the FTX platform.
Sam Bankman-Fried, Founder and CEO of FTX, said he was excited to have a “true icon” joining as a partner. He also highlighted O’Leary’s emphasis on the importance of compliance and developing trustworthy partners.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.