Senate Banking hearing set to take aim at FTX and cryptocurrency industry: 'The largest Ponzi scheme in history'

  • 📰 CNBC
  • ⏱ Reading Time:
  • 19 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 72%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

CORRECTION: 'It's just unregulated Wild West,' Kevin O'Leary said Wednesday at the Senate Banking hearing on the collapse of FTX.

FTX "from the start," which allowed him to divert billions of dollars of customer funds into his own hands to grow his sprawling empire.

Though Ray and Bankman-Fried won't be part of the Senate Banking hearing on Wednesday, four cryptocurrency experts will be testifying instead, including Kevin O'Leary, a longtime paidThe pre-released opening remarks by the witnesses suggests that the hearing won't just focus on FTX but how the collapse of the company may impact the industry at large.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Someone looks angry that he is on the wrong side of a scam for a change.

Same guy actively promoted buying into these coins at every opportunity, just a bunch of hypocrites..

So why he was promoting FTX, even after knowing it?

Too bad he’s lost most of the money he’s invested in Crypto. For years he touted the greatness of Crypto. Don’t know if he could still invest in the startups on Shark Tank.

And he was promoting FTX in exchange for $15 Million. What a crook kevinolearytv

Use your credibility for right reasons Kevin! Regulate what Its a scam on its face value- call it such!!!

Isn't that the point?

Is there a regulated Wild West?

If it was so unregulated and the Wild Wild West why did you agree to be a paid spokesperson and entangle, promote more people to buy in? Maybe it was the 15 million dollars they paid you?

What did he lose $10 million? Now he wants regulation, after his losses. Why not before?

Funny when you consider Kevin got involved BECAUSE it was the 'wild wild west'.

Hard to believe that the Senate chose an unmitigated blow hart only interested in himself and his money. Just a self promoter who is worth squat.

Is anyone really that surprised to see corruption or fraud within the crypto industry? Like really is everyone that surprised? it was going to happen at some point. Millions-billions of dollars in an unregulated exchange 🤷🏽.

Well then.......regulate it, for gosh sakes. Problem solved...................DUH,,, And you're welcome.

This after he defended SBF_FTX

these are not businesses , phony imaginary so called currencies ; just rid it out ; why should regulators waste their time and money on these joints

💩💩💩🖕🖕🖕🖕

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FTX US 'Was Not Independent' of Parent Company, New FTX CEO Will Say in House TestimonyFTX US “was not independent” of its parent company, new FTX CEO John Ray III plans to say in his testimony before the House Financial Services Committee on Tuesday. nikhileshde reports
Source: CoinDesk - 🏆 291. / 63 Read more »