Binance will face competition from a new crypto exchange as per Kevin O’Leary


Kevin O’Leary, star of the ABC show “Shark Tank,” predicts the arrival of a new cryptocurrency exchange that will steal customers from the current market leaders.

The venture investor argues the “crypto cowboy” era is over in a recent interview with Fox Business. O’Leary predicts that an Abu Dhabi startup named M2, funded by billions of dollars and with ties to major institutional players, would quickly become the world’s biggest “regulated” crypto exchange.

“The expected announcement is imminent, and we have… M2, the world’s biggest regulated exchange with billions in support and ties to massive financial institutions, will be unveiled in Abu Dhabi within the next 10 days.

So, sadly, no American may register there. However, Binance is the target of their attention since it stands to lose half of its users to M2. Because you may now leave an SEC-targeted platform and trade on a compliant exchange supported by major banks and other financial institutions with deep pockets.”

The potential backer wants “so badly” to put funds into the new venture. Shortly before FTX collapsed and its CEO was arrested on fraud charges, Kevin O’Leary supported the company.

O’Leary repeated same sentiments in October, including referencing the M2 swap. An unannounced new exchange, M2, is expected to attract billions of dollars and replace FTX and Binance in Abu Dhabi.

There will be complete openness in its ownership and its usage will be legal anywhere in the globe. It will be supported by billions of cash.

Since you can’t keep Bitcoin in your possession without an exchange, this model is poised to become the industry norm.

Also Read: SEC Applauds in ‘Impactful’ Crypto Enforcement in 2023

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