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‘Shark Tank’ host Kevin O’Leary lost $15 million in FTX collapse

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2 years ago

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U.S. Senate Banking Committee is examining the collapse of cryptocurrency company FTX.

On Wednesday, Shark Tank host Kevin O’Leary testified before the Senate Banking Committee in Washington D.C.

The entrepreneur told lawmakers on Capitol Hill that he lost an estimated $15 million.

He’s not alone as investors, celebrities and customers have seen hundreds of millions of dollars disappear.

He also admitted he did not do his due diligence on the investment.

O’Leary insists that none of his partners lost money on the deal and has sought to uncover where his investment money went. Bankman-Fried, also known as SBF, has been at the center of a growing crypto scandal amid allegations that FTX used customer money in its cryptocurrency to fund risky investments made by his trading firm, Alameda Research.

An FTX paid spokesman and multimillionaire investor, O’Leary said in his testimony that he fell victim to “groupthink.” However, he insisted that none of his partners lost money in the deal.

O’Leary is now trying to uncover where his investment money went.

The Senate Banking Committee is examining the collapse of cryptocurrency company FTX founded by Sam Bankman-Fried and the resulting impact on consumers.

The 30-year-old disgraced crypto-king is embroiled in an ever-expanding scandal with federal authorities alleging that FTX used customer money in its cryptocurrency to then fund investments made by his trading firm, Alameda Research.

During the hearing, O’Leary said he believed cryptocurrency should be regulated.

“The number one prize is to be regulated in the U.S. market—the number one financial market on earth. Now when you talk about other money center banks or other financial services industry that want to do business in the U.S.—they must disclose their worldwide operations,” O’Leary said.

“They are scrutinized by the rules we already have in place. A coordinated effort between the Canadian regulator, the U.S. regulator, the ADGM in Abu Dhabi, the regulators and Singapore— basically laying out the ground rules for any entity that wishes to do business in the U.S. or any of those jurisdictions solves this problem.”

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Veronica Dudo is the U.S. Correspondent for Ticker News covering America’s biggest headlines. As an Emmy® Award nominated global journalist, Veronica has traveled across the country and around the world reporting on historical events that connect all citizens. Lauded as an award-winning international journalist, Veronica has executed stellar news coverage for NBC News, CBS News, The Hill, ME-TV Network and AOL. Her stories have highlighted a plethora of topics ranging from breaking news and politics to economic affairs across the USA, European Union, and Asia; cultural affairs; globalization; governance; education; and sustainability.

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Trump urges Putin to halt Kyiv attacks after casualties

Trump urges Putin to cease attacks on Ukraine following deadly missile strike on Kyiv, killing 12 and injuring 90.

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8 hours ago

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April 25, 2025

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Trump urges Putin to cease attacks on Ukraine following deadly missile strike on Kyiv, killing 12 and injuring 90.

In Short

A missile and drone attack on Kyiv killed 12 and injured 90, prompting Trump to urge Putin for a peace deal amid escalating tensions.

Ukraine seeks an unconditional cease-fire, but ongoing strikes and unacceptable Russian conditions raise concerns over future peace negotiations.

In a recent missile and drone attack on Kyiv, 12 individuals were killed and 90 injured, marking the most severe air assault this year.

U.S. President Trump responded by urging Russian President Putin to halt attacks and pursue a peace agreement. He expressed concern over the loss of life, highlighting that 5,000 soldiers perish weekly.

The attack involved over 200 missiles and drones and targeted critical Ukrainian industries. Trump’s frustration has increased as peace talks stagnate, with him also critiquing Ukrainian President Zelensky for dismissing a peace proposal that would legally recognise Russian control over Crimea.

Peace deadline

Despite Trump’s previous reluctance to criticise Putin, the attack shifted his stance. He has signaled a deadline for both Russia and Ukraine to reach a peace deal while the U.S. contemplates the extent of its involvement in negotiations.

Ukraine seeks an unconditional cease-fire, but Russia’s conditions remain unacceptable to Kyiv. A recent U.S. proposal would allow Russia to retain substantial territory and would limit Ukraine’s NATO aspirations.

Zelensky accused Russian forces of terrorism, attacking civilian areas and inciting widespread destruction, while Trump acknowledged the challenges of restoring Crimea to Ukraine.

The situation continues to escalate, with ongoing strikes on civilian infrastructure, drawing international attention and condemnation. As rescue workers clear debris from the latest attack, uncertainties remain about the future of peace talks and the safety of Ukrainian citizens.

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Trump targets migrant gangs with deportation crackdown

Trump advocates for strong immigration enforcement to restore law and order, warns against court-blocked deportations, and labels gangs as terrorist organizations.

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8 hours ago

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April 25, 2025

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Trump advocates for strong immigration enforcement to restore law and order, warns against court-blocked deportations, and labels gangs as terrorist organizations.


Former President Donald Trump says his administration is committed to restoring law and order through aggressive immigration enforcement.

He warns that dangerous consequences could unfold if courts block mass deportations.

Trump has labelled several gangs, including Tren de Aragua, as foreign terrorist organisations, and is pushing for faster judicial cooperation.

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Trump considers slashing China tariffs by over 50%.

Trump considers significant tariff cuts on Chinese imports to ease tensions; negotiations continue as China remains firm.

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1 day ago

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April 24, 2025

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Trump considers significant tariff cuts on Chinese imports to ease tensions; negotiations continue as China remains firm.


In a major policy shift, President Trump is exploring a significant cut to tariffs on Chinese imports — a move that could ease tensions between the two superpowers.
Talks are ongoing, and the White House suggests a new tiered approach. China, while open to negotiations, remains firm that it won’t engage under threats.

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#ChinaTariffs #TrumpTariffs #TradeWar #USChina #GlobalMarkets #EconomicPolicy #TickerNews #Geopolitics

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