Kevin O’Leary, the shark tank entrepreneur, was recently bashed on Twitter for being associated with FTX. He has been a brand ambassador of the exchange and was paid $15 million by FTX for promoting it. Kevin also invested in the exchange which turned out to be a poor decision as its value dropped to zero. Still, his integrity was recently questioned by the president of Bianco Research, Jim Bianco.
Kevin gets grilled on Twitter
Kevin recently tweeted, “I would rather invest in an entrepreneur who has felt the sting of failure because they can appreciate how hard it is to start a company.” So, Kevin is calling Sam a failed entrepreneur, which he believes is a good bet to invest in.
Jim replied to his tweet saying that Kevin did not invest with an entrepreneur. Plus, he was paid $15 million by FTX with stolen customer money, but he still defends the image of the criminal. He even tells Kevin to delete his Twitter account if he can’t tell the difference.
The president of Bianco also made a follow-up tweet where he added, “And if you had any integrity, you would return the $15 million you were paid to the administrators of FTX. Until you do, I don’t see the difference between you and a low-life hustler.”
The problem here!
One user commented on the tweet made by Jim. This gives us another perspective on whether Kevin should return the money or not.
I don't think that a legit business needs to return money that originated from a fraud.
If you come to a store, and buy some goods, the store is not responsible to return the money if it was originated from a fraud. It's the person whom committed the fraud blame.
— Yizhar ?? (@DeFi_Yizhar) December 18, 2022
First of all, Kevin invested the money he received back into FTX, where he lost it all. So, if he pays back, it will be with his own money. Secondly, it should not concern him if he wasn’t involved with the platform’s business.
This Twitter user says it well. A legit business is not responsible for returning money that originated from fraud. And it is not just Kevin; there are many other influencers like Shaq and Tom Brady who were also paid hefty amounts to promote the crypto platform FTX. In fact, Shaq himself said that he was just a spokesperson for the company.
What are your thoughts as Kevin O’Leary gets bashed for calling Sam an entrepreneur? And do you think he should return the $15 million he received? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.
Also Read: Federal regulators disclosed how SBF swindled 8 billion USD in customer money.
