Despite the collapse of fraudulent crypto exchange FTX and subsequent collapse of few more cryptocurrency and crypto exchange and now anticipation of sudden collapse of Binance, Americans and people throughout the world still are running after crypto while taking this advantage a large number of crypto scammers are continuing their fraudulent activities in a number of countries in the Middle East – particularly Bahrain and the United Arab Emirate. Meanwhile, crypto pimps are saying “Bitcoin is on another wild ride” – while they do not tell the other side of the story that though now Bitcoin is up 80 percent in 2023 Shark Tank star Kevin O’Leary warns that there could be more fiascos in the crypto world anytime soon. Earlier Warren Buffet has repeatedly warned people to stay away from crypto as in his opinion – all of these ventures are simply scam.
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In a Kitco News interview, Kevin O’Leary when was asked whether he believed there would be another FTX, O’Leary’s said: “If you’re asking me will there be another meltdown to zero? Absolutely, 100 percent it’ll happen and it’ll keep happening over and over and over again”, he says.
“All the unregulated exchanges are having massive outflows right now. The smart money has got the joke. They saw what happened in FTX. They’re not sitting around for an explanation”.
Also read Dan Settgast, Greenzero Foundation and classic pattern of massive fraud
Simply put, institutional investors won’t put their money in unregulated crypto exchanges.
“If you’re not willing to be audited, and I’m speaking about any exchange, if you don’t have an auditor, you don’t want to be transparent, you don’t want to disclose ownership, why should institutional capital stay there? Of course it’s not going to”.
O’Leary further said, “The only place I have any crypto right now is up in the Canadian market, which is 100 percent regulated. They have a broker-dealer attached to an exchange regulated by the OSC [Ontario Securities Commission], all kinds of rules, you can’t commingle”.
“It’s called Bitbuy and I’ve got my money there. It’s owned by WonderFi, a public company. I’ve got lots of capital tied up in there — it’s the only place”.
Also read Liberland president Vit Jedlička, the mafia of crypto scam
But financial experts are saying just the opposite. They say, crypto is based on imagination – which is actually mind game of some group of people as well as scammers. In reality, crypto does not have any face value as it does not exist. It is simply illusion or delusion. So, be it Bitcoin or any other crypto currencies or fake crypto such as OneCoin, OnPassive, YEM coin, Liberland’s Merit coin etcetera – investing even one dollar in any of these ventures is just losing money in the end.
If you have passion of being robbed-off by scammers, crypto is the best place for you. Otherwise, just stay away from these scam ventures.
People are really dangerous these days.