Bitcoin News and Finance Kevin O’Leary on SEC v Ripple Lawsuit Over XRP: ‘I Have Zero Interest in Investing in Litigation Against SEC’ Skip to main content

Kevin O’Leary on SEC v Ripple Lawsuit Over XRP: ‘I Have Zero Interest in Investing in Litigation Against SEC’

Kevin O'Leary on SEC v Ripple Lawsuit Over XRP: 'I Have Zero Interest in Investing in Litigation Against SEC'

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, says he has zero interest in investing in anything with litigation from the U.S. Securities and Exchange Commission (SEC). “That is a very bad idea,” he said. Discussing the SEC lawsuit against Ripple over XRP, he emphasized: “I have no interest in being a crypto cowboy … I have to be compliant.”

Kevin O’Leary Says He Must Not Upset Regulators

Shark Tank star Kevin O’Leary, the chairman of O’shares ETF, talked about cryptocurrency, bitcoin, XRP, Ripple’s lawsuit, and crypto regulation in an interview with CNBC published Friday.

He explained that he prefers to consult with regulators regarding cryptocurrency in order to find out “what’s possible and what isn’t.”

Commenting on the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against Ripple over the sale of XRP, O’Leary stressed:

I have zero interest in investing in litigation against the SEC. That is a very bad idea.

The SEC sued Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen over the sale of $1.3 billion worth of the XRP tokens, claiming that it was an unregistered securities offering. Ripple and its executives have argued that XRP is not a security.

Garlinghouse recently said that he expects the lawsuit to come to a conclusion next year, noting, “We are seeing pretty good progress.” Even the CEO of the Nasdaq-listed crypto exchange Coinbase, Brian Armstrong, believes that the lawsuit is going better than expected.

However, O’Leary said that he prefers to comply with regulators “because that’s where the real capital is.” He emphasized:

I have no interest in being a crypto cowboy and getting anybody unhappy with me because … I have so many assets in the real world that I’ve invested in already that I have to be compliant.

Mr. Wonderful is also not keen on meme cryptocurrencies. He said in July that he will not invest in the popular meme crypto dogecoin (DOGE), noting, “I don’t understand why anybody would.”

Nonetheless, cryptocurrency now accounts for about 10% of his portfolio. His crypto exposure exceeded his gold exposure for the first time in early October. In September, the Shark Tank star said he expect a trillion dollars more flowing into bitcoin.

What do you think about Kevin O’Leary’s comments? Let us know in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory