Crypto News– Venture capitalist Kevin O’Leary expressed his excitement about an upcoming cryptocurrency exchange set to launch soon in Abu Dhabi. According to O’Leary, this new exchange, named M2, is poised to replace prominent firms like FTX and Binance.
Kevin OLeary Asserts Crypto Platform M2 as Binance Competitor
In a recent interview on Fox Business, O’Leary announced the end of the era of “crypto cowboys,” emphasizing the rise of regulated and stable players, including the anticipated crypto exchange M2. He confidently declared that once launched, M2 would become the world’s largest regulated cryptocurrency trading platform. O’Leary asserted that M2 is expected to receive substantial capital backing, amounting to billions of dollars, from major financial institutions. Additionally, he envisioned the exchange capturing half of its user base from Binance.
O’Leary highlighted the significance of choosing a compliant exchange backed by substantial capital, especially in contrast to platforms facing legal challenges from regulatory bodies like the SEC. He pointed out that M2’s compliance and financial backing make it a preferable alternative. Notably, O’Leary mentioned that M2 would not allow registrations from Americans. Despite this limitation, he expressed strong optimism about the exchange’s potential to establish a new standard, reiterating his positive sentiments from a previous interview on September 29.