{"id":193747,"date":"2023-11-15T05:03:07","date_gmt":"2023-11-14T23:33:07","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=193747"},"modified":"2023-11-15T05:03:07","modified_gmt":"2023-11-14T23:33:07","slug":"kevin-oleary-says-new-crypto-exchange-will-compete-with-binance-become-the-largest-ever-to-be-regulated-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/kevin-oleary-says-new-crypto-exchange-will-compete-with-binance-become-the-largest-ever-to-be-regulated-crypto-news\/","title":{"rendered":"Kevin O\u2019Leary Says New Crypto Exchange Will Compete With Binance, Become the Largest Ever To Be Regulated – Crypto News"},"content":{"rendered":"

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Shark Tank star Kevin O\u2019Leary says a new crypto exchange is coming that will take business away from the industry\u2019s leading giants.<\/p>\n

In a new interview with Fox Business, the venture capitalist <\/span>says<\/a> the days of the \u201ccrypto cowboy\u201d are long gone.<\/span><\/p>\n

O\u2019Leary says that a new firm based in Abu Dhabi called M2 will become the largest \u201cregulated\u201d crypto exchange in the world, backed by billions in capital with connections to large institutional players.<\/p>\n

\u201cThe age of the crypto cowboy, those days are over\u2026 We have the pending announcement, rumored\u2026 In the next ten days, they will announce M2 in Abu Dhabi, the largest exchange ever that\u2019s regulated with billions backing it and tied to huge financial institutions. <\/em><\/p>\n

So, unfortunately, no American can register there. But really what they are going after is Binance [which] will probably lose half of its accounts to the new M2. Because now you can go off something that the SEC is suing and go on to a compliant exchange that\u2019s backed by billions of dollars and huge financial institutions.\u201d<\/em><\/p>\n

The investor says he \u201cso badly\u201d wants to be an early investor in the new project.<\/p>\n

Kevin O\u2019Leary promoted FTX shortly before its collapse and its CEO was arrested on fraud charges.<\/p>\n

In October, O\u2019Leary made\u00a0similar comments<\/a>\u00a0about the M2 exchange.<\/p>\n

\u201cThis hasn\u2019t been announced yet but in Abu Dhabi, they are planning to launch a new exchange to replace both FTX and Binance, and they\u2019re going to get billions [of dollars] on it called M2.\u00a0<\/em><\/p>\n

[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\u2026<\/em><\/p>\n

It\u2019s going to become the new standard in exchanges because you can\u2019t hold Bitcoin without an exchange for liquidity.\u201d<\/em><\/p>\n

At time of writing, there has been no official announcement about the launch of M2.<\/p>\n