Kevin O'Leary Opens Up on Losses Incurred in the FTX Deal The investor stated he was drawn to FTX's compliance systems which led him to invest in the crypto exchange

By Saptak Bardhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Wikimedia Commons

Investor and Shark Tank Judge Kevin O'Leary on Thursday said that he has lost $15 million FTX paid him to act as a spokesperson for the now bankrupt crypto exchange. Some people have called FTX fraudulent.

Celebrities like Tom Brady, Shaquille O'Neal and Larry David were sued by FTX investors. According to the FTX investors, the exchange's ambassadors should have done more due diligence and exercised extra caution before promoting the crypto exchange. He stated that he feel prey to groupthink. However, none of O'Leary's partners lost money.

"It was not a good investment," O'Leary said. "Total deal was just under $15 million, all in. I put about $9.7 million into crypto. I think that's what I lost. I don't know. It's all at zero."

The investor stated he was drawn to FTX's compliance systems which led him to invest in the crypto exchange. He aggressively promoted the crypto firm on Twitter and online. Since the collapse of FTX, Sam Bankman-Fried has resigned as well as facing multiple investigations and the company is battling bankruptcy claims in the courts.

According to O'Leary, he had more than $1 million of FTX equity which has since been rendered worthless due to the bankruptcy case.

Saptak Bardhan

Former Trainee Writer

Former Trainee Writer
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

News and Trends

How to Start a Business in IT

Today's digital economy puts technology at the heart of nearly every organization, from construction to fashion. That reality opens a world of opportunity for founders who bring fresh ideas, niche expertise, and customer-focused solutions to market.

Employee Experience & Recruiting

I Wish Every Entrepreneur Had a Dad Like Mine

I learned entrepreneurship by silently observing everything my dad did; a true businessman through and through. Here's why I wish every entrepreneur had a dad like mine.

Side Hustle

After a 12-Year-Old's Side Hustle Made Over $4,000 in 1 Day, He and His Dad Grew the Business to Nearly $50,000 a Month: 'It Takes Commitment'

Madden Forrest and his father, Steven, turned their passion for football into a lucrative business.

Business News

The Overlooked Money Moves That Help Entrepreneurs Build Long-Term Wealth

Without intentionally building personal wealth, you could have a successful business and nothing to show for it.