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

HairOriginals Secures USD 5 Mn in Series A Funding to Expand Global Footprint

The fresh capital will be deployed to expand the startup's on-demand "Try at Home" services to 40 cities, bolster research and development (R&D), and establish 25–30 company-owned experience centers within the next year.

Growing a Business

What Our Digital World Is Missing — and How I Turned It Into $100 Million After Dropping Out of High School

I went from high school dropout to $100 million CEO by sticking to one very important learning principle.

News and Trends

Apex Kidney Care Secures USD 9 Mn FDI from Blue Earth Capital for Expanding Dialysis Services

The investment, facilitated by Tata Capital Healthcare Fund (TCHF), reinforces a shared commitment to enhancing accessible and high-quality kidney care across India.