Kevin O'Leary defends SBF, says FTX should be audited

In an interrogation with Yahoo Finance connected Dec. 6, Shark Tank’s Kevin O’Leary called for calm successful the aftermath of FTX’s collapse. The exchange’s erstwhile CEO, Sam Bankman-Fried, should beryllium understood arsenic guiltless unless grounds comes to airy that shows helium has committed fraud, O’Leary stated. Sam Bankman-Fried is besides known arsenic “SBF.”

O’Leary called for an audit of FTX to uncover wherever the exchange’s wealth went truthful that investors tin get their funds back.

The communicative connected the @FTX_Official concern is rapidly changing from "throw everyone successful jail" to "where is my money?" Time for a forensic audit and immoderate facts! pic.twitter.com/MdHy4Dqt5F

— Kevin O'Leary aka Mr. Wonderful (@kevinolearytv) December 6, 2022

On Nov. 30 and Dec. 1, SBF had taken respective interviews successful which helium claimed that helium is not blameworthy of fraud. This had led to a backlash successful the crypto community. But O’Leary defended SBF successful this caller interview, saying helium is “innocent until proven guilty.” He explained:

“I americium of the ilk and of the radical of radical that says, you're guiltless until proven guilty. That's what I believe. And I privation the facts. And so, if you archer maine that you didn't — you did oregon didn't bash something, I'm going to judge you until I find retired it's a falsehood.”

O’Leary stated that due to the fact that of blockchain technology, each of the exchange’s transactions “are 100% auditable,” and erstwhile this audit is performed, the information astir FTX volition travel out. Then, if anyone broke the law, they’ll beryllium prosecuted.

He argued that investors volition beryllium capable to get backmost astatine slightest immoderate of their wealth if an audit is performed.

“We're going to get that wealth back,” helium said. “That's precisely what's going to happen. I'm not the lone instauration successful this situation. We each privation our betterment path. We request a betterment path, but we don't person one.”

Before its bankruptcy, FTX was the second-largest crypto speech successful the satellite by volume. But from Nov. 2-11, a bid of events led to it being unable to process withdrawals. It subsequently filed for bankruptcy, and billions of dollars of investors’ superior is present tied up successful these bankruptcy proceedings. Bankruptcy filings amusement that the institution may person implicit 1 cardinal creditors, of which Kevin O’Leary is one.