Kevin O'Leary Predicts This New Regulatory-compliant Crypto Exchange Will Surpass Binance And FTX

O'Shares Investment Advisors chairman and renowned "Shark Tank" investor Kevin O'Leary recently shared insights about a new exchange that could potentially overshadow giants like Binance and FTX due to its regulatory compliance.

What Happened: During an interview with Fox Business last week, O'Leary said that Abu Dhabi is planning to launch a new exchange called M2 to replace both FTX and Binance. 

He said that this platform is expected to be fully compliant, backed by significant financial resources, and will offer transparent ownership.

“This hasn’t been announced yet but in Abu Dhabi, they are planning to launch a new exchange to replace both FTX and Binance, and they’re going to get billions of dollars on it called M2. It is going to be totally compliant, backed by billions of dollars, incredibly stable, ownership transparency and it can be used by anybody in the world legitimately on a compliant basis," he said during the interview. 

Also Read: New Kevin O'Leary-Backed Platform Lets Anyone Invest Like A Shark

"It’s going to become the new standard in exchanges because you can’t hold Bitcoin without an exchange for liquidity,” he added. 

Highlighting the regulatory challenges in the U.S., O’Leary pointed out the legal issues faced by Coinbase (NASDAQ: COIN).

He also expressed concerns about the hurdles encountered by giants like Fidelity (NYSE: FNF) and BlackRock (NYSE: BLK) in launching their ETFs.

"Gensler has sued Coinbase, the largest crypto exchange in the U.S., which is why Fidelity and BlackRock were there on the Hill. They were really unhappy because they can’t do their ETF," O'Leary said. 

O’Leary said he believes that the emergence of compliant exchanges like M2 could be a game-changer in the crypto industry.

Now Read: Why Kevin O'Leary Says A New Digital Economy Is Emerging

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