Crypto: Abu Dhabi is the New 'Capital of Capital' Says Kevin O'Leary
The collapse of several institutions like FTX, Three Arrows Capital and Terraform Labs eroded the trust of crypto investors. Regulators have been eyeing this space and enacting several precautionary laws ever since. Kevin O’Leary recently pointed out that FTX looked promising because people thought that the company would eventually get a regulated ticket. However, that was not the case. He explained, “That was the golden goose prize of any exchange in America. Everybody tried—Binance tried, Coinbase is trying—everyone wants the regulators to regulate them, so that they can interact and fit into the existing financial system.” This system has not worked in America yet owing to a wide range of reasons, and now, institutions have been hesitant towards diverting funds in this sector, the venture capitalist contended. Also Read: Top 3 Disclosures Made During SBF’s Trial Today Making a Case for Abu Dhabi Nevertheless, Kevin O’Leary remained optimistic abou...