Kevin O’Leary: I invested in FTX. Here’s the big problem with crypto.

Описание: Crypto is a lot of things, but it isn’t a currency according to Shark Tank investor Kevin O’Leary, aka “Mr. Wonderful." What would it take to get there?

Subscribe to Big Think on YouTube ►    / @bigthink  
Up next, The “sex drive” myth, debunked ►    • The science of sex drive and sexual frustr...  

Is the collapse of a $25 billion cryptocurrency startup a death knell for the industry? Not according to Kevin O'Leary, an investor, businessman, and author. He sees the failure of FTX as a speed bump rather than a roadblock, underscoring the distinction between speculative assets like Bitcoin and more stable entities like Stablecoins.

Despite the turmoil, O'Leary maintains that the potential of cryptocurrencies remains vast. He foresees their integration into the global economy but contends that this can only happen successfully with appropriate regulation to curtail the sector's “Wild West” tendencies. As the cryptocurrency community awaits the final outcome of the SEC’s lawsuit against Ripple and other companies, it remains to be seen whether or when digital assets will be incorporated into our daily economic lives.

0:00 FTX's "utter catastrophe"
0:58 What crypto is missing
1:23 Speculative assets vs. stable coins
3:10 Should we trust the government to regulate crypto?
5:45 Where do we go from here?

Read the video transcript ► https://bigthink.com/series/the-big-t...

----------------------------------------------------------------------------------

About Kevin O’Leary:
Kevin O’Leary, known as “Mr. Wonderful” and “Uncle Kevin,” is a businessman, TV personality, and investor. Co-founder of SoftKey International, he orchestrated its $4.2 billion acquisition by Mattel. O’Leary later ventured into asset management and became a prominent investor on the TV show “Shark Tank,” where he delivers candid business advice and cuts deals with his famous no-nonsense approach. He is also currently chairman of O’Leary Ventures and promotes financial literacy by empowering individuals with pragmatic guidance and best-selling books, such as “Cold Hard Truth” and “The Cold Hard Truth on Men, Women, and Money.”

----------------------------------------------------------------------------------

Read more of our stories on crypto:
“Impulsive psychopaths” are drawn to Bitcoin and other crypto
► https://bigthink.com/neuropsych/bitco...
Cryptocurrency and the “greater fool” theory of economics
► https://bigthink.com/the-present/grea...
Behind the crypto hype is an ideology of social change
► https://bigthink.com/the-present/cryp...

---------------------------------------------------------------------------------

About Big Think | Smarter Faster™
► Big Think
Our mission is to make you smarter, faster. Watch interviews with the world’s biggest thinkers on science, philosophy, business, and more.
► Big Think+
Looking to ignite a learning culture at your company? Prepare your workforce for the future with educational courses from the world’s biggest thinkers. Trusted by Ford, Marriot, Bank of America, and many more. Learn how Big Think+ can empower your people today: https://bigthink.com/plus/?utm_source...

----------------------------------------------------------------------------------

Want more Big Think?
► Daily editorial features: https://bigthink.com/?utm_source=yout...
► Get the best of Big Think right to your inbox: https://bigthink.com/subscribe/?utm_s...
► Facebook: https://bigth.ink/facebook/
► Instagram: https://bigth.ink/Instagram/
► Twitter: https://bigth.ink/twitter/