Well-known investor and "Shark Tank" star Kevin O’Leary said he isn’t ready to call a bottom in the crypto sector short of a major negative occurrence.
“You don’t get a bottom until you have an event,” O’Leary told CoinDesk this week. “In the crypto world, we need someone to go to zero.”
While such occurrences obviously aren’t positive for the players involved, these types of “panic events define bottoms” as markets capitulate before crawling out from their lows and slowly recovering, according to O’Leary.
O’Leary spoke to CoinDesk ahead of WonderFi's June 22 move to the Toronto Stock Exchange from Canada’s NEO Exchange. WonderFi, a crypto marketplace and registered trading platform, counts O’Leary and FTX CEO Sam Bankman-Fried as strategic investors.
O’Leary credits the move to the company’s enhanced oversight and compliance, as well as the work it's done with regulators on listing new coins and services. He said Canada’s crypto industry doesn’t allow for excess leverage, meaning...
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