Kevin O’Leary says he is willing to back Bankman-Fried in a new project

Investor and star of the television show Shark Tank Kevin O’Leary said he would be willing to back former FTX chief executive Sam Bankman-Fried (SBF) if he launches a new startup.

O’Leary was not unsettled by potential bankruptcy of the bitcoin exchange details.

Earlier Bloomberg and The Wall Street Journal reported an $8 billion hole in FTX’s balance sheet. Bankman-Fried valued his net worth at $1 billion. According to court documents, the operator of the platform has more than a million creditors.

«You may love him [SBF] or hate him for what happened. But he is one of the brightest traders in the crypto universe», — said one expert.

O’Leary admitted that he sympathises with Bankman-Fried. According to the investor, the former FTX chief executive is set to “suffer from slings and arrows.”

According to Fortune, the U.S. Department of Justice has all that is needed to bring criminal charges against Bankman-Fried and other executives of the bankrupt exchange.

As a reminder, the SEC and CFTC have also begun examining the links between FTX and its U.S. subsidiary and Alameda, according to Bloomberg. The agency judged it unlikely that clients would recover funds from the bankrupt exchange.

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