The crypto industry welcomed an array of people this year. Kevin O’Leary from Shark Tank was one of them. To further bolster his presence in the crypto-verse, the Shark Tank host joined the prominent crypto exchange, FTX as its latest spokesperson.
The value of the crypto market witnessed impeccable growth through 2020. The market cap of the crypto industry soared to a high of $2 trillion while the price of Bitcoin [BTC] hit an all-time high of $64K. This timely growth of the king coin lured in several individuals to the market. From celebrities to the average Joe, everyone wanted to explore the crypto market. Back in March, O’Leary went on to reveal that he intended to allocate about 3% of his investments to Bitcoin.
Looks like the Shark Tank host wanted more from the crypto-verse. FTX shared a press release welcoming O’Leary into its wing.
Shark Tank host dives deep into the crypto market
As per a recent announcement, O’Leary had acquired an equity stake in FTX Trading Ltd. (“FTX.COM”) and West Realm Shires Services Inc. (“FTX.US”) owners and operators of FTX.COM and FTX.US respectively. The Shark Tank host would reportedly be paid in crypto and appear as the spokesperson as well as an ambassador for the exchange.
Noting the reason behind this move into the crypto-verse, the venture capitalist stated,
“I want to increase my crypto exposure but also serve my compliance mandates. When it comes to rapidly changing compliance and tax reporting requirements, the current cryptocurrency ecosystem is fraught with risks that I can not take. To find crypto investment opportunities that met my own rigorous standards of compliance, I entered into this relationship with FTX. It has some of the best crypto exchange offerings I’ve seen on the market.”
Along with this, O’Leary has reportedly signed a multi-year deal with FTX as its spokesperson. During this time, he would carry out operations that would require him to elevate FTX’s existing presence while reaching out to new audiences.