Shark Tank star Kevin O’Leary, aka Mr. Fantastic, has defended his help of the collapsed crypto trade FTX and its former CEO Sam Bankman-Fried (SBF). “That is America. The justice system supplies the presumption of innocence until confirmed in any other case,” he careworn. O’Leary additionally denied the accusation by Binance CEO Changpeng Zhao (CZ) that he perjured himself in a U.S. Senate listening to over why FTX failed.
Shark Tank star Kevin O’Leary defended his place as a spokesperson for the collapsed crypto trade FTX in an interview with CNBC Friday. He additionally commented on Binance CEO Changpeng Zhao (CZ) calling him a liar.
When requested why he didn’t stridently condemn former FTX CEO Sam Bankman-Fried (SBF), O’Leary replied:
That is America. The justice system supplies the presumption of innocence until confirmed in any other case.
The previous FTX govt was arrested within the Bahamas final week. The U.S. authorities and several other regulators have filed plenty of fraud fees in opposition to him and his crypto trade. O’Leary was FTX’s spokesperson and an investor within the trade when it collapsed. The corporate paid him about $15 million to turn out to be its spokesperson, which the Shark Tank star stated was misplaced when the trade filed for chapter.
When requested, “Are you continue to conflating cash you bought paid by FTX that you just misplaced, or did you truly make investments a few of your individual funds?” the Shark Tank star replied: “Cash is fungible.” CNBC’s Joe Kernen then famous: “So that you didn’t. As soon as once more, you’re a enterprise investor who ventured your title … You didn’t even pay your individual cash on the taxes.”
O’Leary was then requested by Andrew Ross Sorkin: “What do you suppose occurred? Do you consider this was a fraud?” Emphasizing that he doesn’t “have the information” and the brand new FTX CEO additionally “doesn’t have them but,” Mr. Fantastic replied:
I’m in search of my data. I’m prepared to fund a forensic audit of our accounts. I’d prefer to know what occurred, clearly. There’s numerous unhealthy issues which have been alleged right here. No query about it. A few of them are going to be true, probably, as a result of there isn’t any cash there. Someplace the money is gone.
Following O’Leary’s testimony earlier than the Senate Banking Committee stating that he believes FTX failed as a result of rival crypto trade Binance deliberately put it out of enterprise, Binance CEO Changpeng Zhao (CZ) referred to as the Shark Tank star a liar.
Mr. Fantastic careworn:
Yesterday, on the air, CZ referred to as me a liar. Then he advised I perjured myself in entrance of the U.S. Senate for two hours this week. I can guarantee you that’s not the case.
“One other little parable right here it is best to perceive,” O’Leary continued. He proceeded to elucidate that his start father was Irish, including that when he was younger, his father instructed him: “Son, by no means name an Irishman a liar, until you realize with certainty that it’s true.” The Shark Tank star then requested his father: “Why is that dad?” His father replied: “As a result of the Irish are loopy.”
Referring to CZ’s accusation, Mr. Fantastic emphasised, “I’m not blissful about this,” including:
On the finish of the day I’ve no ailing will in direction of this man, however he’s a part of the story too.
Earlier than FTX collapsed, O’Leary nearly secured $8 billion to save lots of the crypto trade from having to file for chapter. He stated that Bankman-Fried is among the finest merchants within the crypto area and he’ll again the FTX co-founder once more if he has one other enterprise.
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DPD and blockchain analytics company Chainalysis co-hosted other law enforcement agencies and cryptocurrency exchanges for ‘Operation DeCloak’
A cryptocurrency fraud workshop co-hosted by the Delta Police Department last fall identified over 1,100 victims worldwide, including a ‘significant number’ in Canada.
On Sept. 16 and 17, 2024, the DPD and blockchain analytics company Chainalysis hosted “Operation DeCloak,” bringing together representatives from law enforcement agencies including the RCMP, Victoria Police Department, Vancouver Police Department, the BC Securities Commission, the BC Prosecution Service and the BC Financial Services Authority, as well as key stakeholders from cryptocurrency exchanges such as Shakepay and others.
The initiative was a localized “sprint” of Chainalysis’ “Operation Spincaster,” a series of public-private collaborations designed to disrupt and prevent cryptocurrency scams. Spincaster itself spun out from “Operation Disruption,” a collaboration between Chainalysis and the Calgary Police Service in March 2024.
“Leveraging the transparency of the blockchain, Chainalysis proactively identified thousands of compromised wallets. This actionable intelligence formed the basis of a series of operational sprints across six countries (U.S., U.K., Canada, Spain, Netherlands and Australia) with over 100 attendees, including 12 public sector agencies and 17 crypto exchanges,” the company said in a press release.
“Over 7,000 leads were disseminated during these sprints, relating to approximately US$162 million of losses. These leads were used to close accounts, seize funds and build intelligence to prevent future scams.”
During last fall’s Operation DeCloak, Chainalysis led training sessions in investigating leads, tracing stolen funds and identifying compromised wallets using the company’s proprietary “Crypto Investigations Solution.”
According to a DPD press release, 240 crypto addresses were closely examined, revealing an estimated collective loss of C$35 million.
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The event also promoted proactive policing and disruption strategies aimed at combating fraud, with particular emphasis on a growing tactic known as “approval phishing” used by romance and investment scammers targeting cryptocurrency transactions.
The method involves scammers gaining their victim’s trust by promoting false investment opportunities with the promise of high returns, thereby convincing victims to unknowingly approve malicious blockchain transactions.
The initial transaction gives the scammer access to tokens in the victim’s digital wallet without the victim’s knowledge, resulting in unauthorized withdrawals.
Police say scammers typically connect with their victims through social media, or via apps or pop-up ads.
During Operation DeCloak, police say immediate steps were taken to notify identified victims of these scams.
“With the co-operation of the exchange companies, affected individuals were promptly contacted with the goal of preventing further harm,” the DPD said in its press release.
Since the workshop, the department has successfully deployed the techniques learned through Operation DeCloak.
“The technique was applied to a previous investigation which identified stolen cryptocurrency funds in a blacklisted address containing US$1.2 million. This address was in the process of being seized by an overseas police agency,” the department said.
Using the DeCloak techniques, the DPD’s Cybercrime Unit has identified an additional 70 transactions worth US$800,000 sent from Canadian exchanges. Investigators are identifying those victims and seizing the funds from the blacklisted address so they can be returned.
“This collaboration with Chainalysis and cryptocurrency exchanges is a testament to the DPD’s focus on innovation and commitment to community safety and well-being.”
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Cryptocurrency exchange Coinbase said Tuesday (Jan. 14) that it is investigating a problem with delayed sends of Ripple (XRP) on its platform.
“We are aware that some users may be experiencing delayed sends for Ripple (XRP),” Coinbase said in an incident report on its status page. “Buys, Sells and Fiat withdrawals/deposits are not affected. We are investigating this issue and will provide an update shortly.”
In an earlier, separate report on its status page, Coinbase said some users experienced delayed sends and receives for Stellar (XLM) on Friday (Jan. 10). That incident was resolved within 90 minutes.
On Thursday (Jan. 9), some users experienced latency or degraded performance with buys, sells, sends, Coinbase Onramp and Advanced Trade. That issue was resolved within two hours, according to the page.
In other, separate news about the company, it was reported Thursday (Jan. 9) that Coinbase told customers that it may have to share data demanded by the Commodity Futures Trading Commission (CFTC).
The regulator sent a subpoena to the firm that seeks information about Coinbase customers’ interactions with prediction market firm Polymarket, and Coinbase emailed some customers saying it may have to share that data with the CFTC.
“When we receive requests for information from a government, each request is carefully reviewed by a team of trained experts using established procedures to determine its legal sufficiency,” a Coinbase spokesperson told CoinDesk.
On Dec. 9, cryptocurrency payments solution firm Triple-A announced an integration with Coinbase that it said it designed to let Coinbase users make payments to select merchants in the Triple-A network.
“Triple-A’s integration with Coinbase Commerce will empower merchants to offer a Coinbase-specific payment option, enhancing the convenience for Coinbase users and allowing Coinbase to connect with a wider network of merchants, to drive the broader adoption of cryptocurrency payments,” the company said in a press release.
Coinbase upgraded its Coinbase One subscription program and launched a new tier called Coinbase One Premium on Dec. 4, saying that with these new offerings, “Coinbase One now truly benefits all types of traders.”
Coinbase One membership has reached 600,000 across 42 countries, the company added.
An update from Axiom Capital Advisors, Inc. ( (TSE:WHIP) ) is now available.
Credissential Inc. announced a new Cryptocurrency Acquisition Policy aimed at enhancing shareholder value by purchasing digital assets like XRP and XLM. This move aligns with the company’s cryptocurrency initiatives and allows investors exposure to the growing digital asset market. The policy is also seen as a strategy to navigate inflationary pressures while diversifying the company’s treasury holdings, indicating a proactive approach to adapting to market trends and delivering long-term shareholder value.
More about Axiom Capital Advisors, Inc.
Credissential Inc. is a vertically integrated AI software development company focusing on advancing financial technology solutions. The company is committed to developing innovative products such as Antenna, a payment platform enhanced with AI and quantum encryption technologies, and DealerFlow, an AI-driven dealer management system designed to streamline operations and enhance efficiency.
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