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Home CRYPTO

Kevin O’Leary Predicts the Demise of the ‘Crypto Cowboys’

BlockNews Team by BlockNews Team
October 3, 2023
in CRYPTO, FEATURED, MEDIA, SOCIAL
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Kevin O’Leary, a prominent Canadian entrepreneur and television personality, formerly associated with the now-defunct FTX exchange as a paid spokesperson, believes that the era of what he terms “crypto cowboys” is diminishing as the cryptocurrency industry transitions towards regulation. During an interview on CoinDesk TV, O’Leary noted that the original founders of the industry, these “crypto cowboys,” will likely fade away due to increased regulatory scrutiny, metaphorically describing them as having “arrows in their backs.” He named CZ from Binance and Coinbase’s CEO, Brian Armstrong. 

Despite this outlook, O’Leary maintains a positive stance on cryptocurrencies. However, he is reluctant to engage with any exchange unless it adheres entirely to regulatory standards.

🚨 BREAKING: Former FTX spokesman Kevin O’Leary stated that all "crypto cowboys" will soon be gone.

He specifically mentioned CZ, SBF, Binance, and Coinbase, stating they all have "arrows in their backs" via a Coindesk interview.

Is this FUD, or is it time for a new… pic.twitter.com/tVKXB7b7IE

— BlockNews.com (@blocknewsdotcom) October 3, 2023
Via @blocknewsdotcom – X


While O’Leary is often seen as a meme in the crypto space, his observations about the changing landscape are not unfounded. The ongoing regulatory pressures affecting figures like CZ and Coinbase could indeed reshape the crypto industry significantly, potentially necessitating a reset as stricter regulations and increased government oversight are enforced.

It’s worth noting that all the “crypto cowboys” he mentions share the fact that they are doxxed. The real catalysts for change might be the projects that steadfastly uphold decentralization and individuals who remain anonymous. If regulation becomes cumbersome, it’s conceivable that current crypto enthusiasts will continue to gravitate toward these entities. Conversely, if regulations become deeply ingrained in new users who join the space without comprehensive knowledge, this paradigm might become a relic of the past.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Crypto CowboysFTXKevin O'Leary
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