Crypto Community Reacts to Kevin O’Leary’s testimony

Sahana Kiran
Source – CNBC

Kevin O’Leary has been subject to immense backlash from the crypto ecosystem following his support towards FTX. However, his testimony is what irked the community even more. O’Leary took shots at Binance by suggesting that it is a “massive, unregulated monopoly now.” He even slammed Binance for causing the collapse of FTX.

The community was visibly enraged by these statements. Ripple’s chief technology officer, David Schwartz took to Twitter and called out O’Leary for his latest comments. Schwartz tweeted,

Does this man have no shame? Against the entire weight of an absurdly massive amount of evidence, he blames the FTX collapse on ….. Binance.

Further backing Binance, Schwartz pointed out how the exchange did the community a favor by bringing this to light. He further tweeted,


Another member of the XRP Army seemed to be appalled by the fact that O’Leary was called as a witness. While calling the whole thing a joke, John E Deaton tweeted,

The man supports SBFraud and said he would invest more money with SBFraud which is a slap in the face to everyone of the innocent people SBFraud harmed along w/Kevin. And he blames @cz_binance?

Tweets about how the Shark Tank host would do anything for money began surfacing.

A few others, however, noted how O’Leary is a spokesperson for FTX. Therefore, he wasn’t wrong in trying to defend himself. But a majority of them believed that this was the end of O’Leary’s crypto career.

Here’s why Binance CZ is agreeing with Gold bug Peter Schiff

Earlier this week, it was brought to light that O’Leary had lost $15 million in the FTX debacle. Gold bug Peter Schiff stepped in and pointed out how the only thing that O’Leary lost was his reputation. Schiff called the Shark Tank host and his endorsement out. Binance’s Changpeng Zhao agreed with Schiff.

In addition to CZ, an array of people from the crypto-verse also approved of Schiff’s tweet. This was quite surprising as the crypto community always reacted badly to Schiff’s tweets.