“Shark Tank” star Kevin O’Leary or “Mr. Wonderful” as he would call himself, is expecting the introduction of a regulated crypto exchange based in Abu Dhabi claiming it can rival crypto industry pioneers like Binance.
The crypto exchange is called “M2” and it is backed by billions in capital and connections to major financial institutions — O’Leary believes the new crypto exchange can dethrone Binance and will attract users with regulatory compliance and institutional support.
About M2 Crypto Exchange
M2 is a crypto exchange platform based in Abu Dhabi, United Arab Emirates (UAE).
The exchange is licensed by the Abu Dhabi Global Market (ADGM) and offers a variety of features for institutional and retail investors including:
- Buying, selling, and trading cryptocurrencies.
- Custodial services for storing cryptocurrencies.
- Yield-generating products.
- A suite of trading tools and analytics.
M2 is also the first fully regulated crypto exchanges in the Middle East and North Africa (MENA) region and it is committed to providing a safe and secure platform for investors to trade crypto.
Kevin O’Leary’s Crypto Past – Context
As you may have been aware of, we have heard this story before because he was saying the same thing about FTX, and we know he got paid $15 million to shill the crypto exchange.
He has already tarnished his name with crypto — O’Leary kept defending Sam Bankman Fried and FTX and was trying to put the blame on Binance.
But the crypto community knows that it is not Binance but it was FTX — FTX was commingling funds and taking customer funds/deposits and sending it over to Alameda Research, and they were the ones using QuickBooks to manage billions of dollars and all kinds of nonsense.
We will see what this crypto exchange is about in the following weeks. It is either Kevin O’Leary is getting paid again or he has a stake in M2.
But the silver lining here that it is a positive item — M2 is located in Abu Dhabi, so that shows the global expansion of the crypto industry, and there are probably some big backers behind M2; but we need to see more in the following weeks on who else is backing it, what are they doing and how are they custodying assets and so forth.
It is just shocking that they are letting him out there and promoting their exchange given that there is already so much information out there about him with FTX as it would just tarnish their brand.