Unregulated Cryptocurrency Exchanges To Go Ground Zero Says Kevin O’Leary Reason Why Decentralized Platform Is Preferable
Last year we saw serval crypto exchanges go to dust the most recent one which is still pretty fresh in our memory is the fall of the centralized exchange FTX, which has been ruled that it has been the effect of it being poorly regulated.
With cases in court which the truth as regards the collapse is gradually unfolding the venture capitalist Kevin O’Leary whom happened to be part of the sponsorship program said that unregulated crypto exchanges will go ground zero.
Kevin on he’s accumulating strategy says that;
I have been going back into crypto markets lately. Any time Bitcoin drops below $17,000 I add to our positions there. Crypto is getting very interesting because we’re finally starting to see the bearer of regulation coming into play and I think long-term that’s a good thing.
These hearings in the senate have really poked the bears as I like to say. I’ve participated in the last hearings and when I had a chance to talk to the people on the Hill… I sensed they’re frustrated now. They’re tired of putting these hearings on every six months, every time one of these crypto companies blows up and goes to zero.
They’re so unregulated, these unregulated exchanges are just… They’re all going to go zero. And what’s going to come out of it eventually, is a regulated crypto market which I think will be very interesting because there’s real merit… Crypto itself is not the bad guy. Crypto is just software code. It’s not the software code, it’s all these rogue players and these unregulated exchanges and the issuance of all these meritless tokens, the tokens on the exchanges. All of this crap… It’s all going to go away.
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Thanks for sharing this quote from his speech. 😊
I happened to hear his words the day that he was speaking. As it turns out, he's in favor of regulation of centralized exchanges. I didn't hear him mention decentralized exchanges as an option, likely because they're not substantially profitable players in the financial world. Decentralized exchanges also the issue of difficulty-of-use for people unaccustomed to cryptocurrency, and I think that if they can overcome that huge barrier, adoption of such exchanges can skyrocket. I already went through my learning curve, but it has to be reduced to the point that Timmy's grandma, who can dial a phone number on her large cellular phone, can use it.
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