Shark Tank Star Kevin O'Leary Reveals His Top Crypto Holding of 2023 Despite FTX Collapse
Billionaire investor and Shark Tank star Kevin O'Leary has revealed that he is still investing in crypto despite the catastrophic collapse of FTX and the subsequent crypto meltdown.
In a comment to Business Insider, O'Leary said that Bitcoin has been his top-performing holding so far this year, followed by other altcoins including Polygon's Matic.
The flagship cryptocurrency is up by more than 70% year-to-date (YTD), beating major stock indexes and commodities.
As of now, BTC is trading at around $28,500, almost flat over the past day. The coin is up by more than 27% over the past month.
Similarly, Matic, the native token of the popular Ethereum layer-2 solution Polygon, is up more than 40% YTD. The token is currently trading at $1.15, up by around 2% over the past day.
The surge in crypto prices this year comes after BTC crashed 65% in 2022 in the wake of some high-profile collapses of crypto projects and hedge funds, including the implosion of FTX, once the third-largest crypto exchange in the world.
Notably, O'Leary was one of the many celebrities who promoted FTX aggressively online. When O’Leary first began to promote FTX, he said it was FTX’s compliance systems that drew him to invest in the crypto exchange.
He has recently revealed that he was paid around $15 million to promote the now-defunct exchange. However, after taxes, agents fees, a $1 million equity investment into FTX, and using $10 million to buy crypto that's now stuck on the FTX exchange, he's got nothing left from the deal, O'Leary has claimed.
FTX investors have filed a class action lawsuit against SBF, the founder and former CEO of the collapsed cryptocurrency exchange, as well as several celebrities who promoted the platform. The celebrities listed
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