Kevin O’Leary, Chairman of O’Shares Investment Advisors and investor on the renowned show “Shark Tank”, recently shared his insights about a potential new exchange that could surpass giants like Binance and FTX due to its regulatory compliance.
During an interview with Fox Business last week, O’Leary spoke about the Abu Dhabi’s new platform, called M2, which is expected to be fully compliant, backed with substantial financial resources, and offer transparent ownership. He stated that the platform has not been officially announced yet, but it will be a “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.” He also mentioned that as Bitcoin needs an exchange for liquidity, M2 could become “the new standard in exchanges.”
O’Leary then highlighted the regulatory challenges facing Coinbase in the US. He indicated that this is the reason why Fidelity, FNF, and BlackRock, BLK, had difficulties launching their ETFs. He expressed his opinion that the emergence of compliant exchanges like M2 could be a major factor in the crypto industry.
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