FTX Partners with Shark Tank’s Kevin O’Leary

Venture capitalist to serve as ambassador for crypto exchange after making equity investment in the company

share

key takeaways

  • Compliance concerns are holding back institutional engagement in crypto more than volatility or ESG controversy, O’Leary told Blockworks
  • O’Leary to be paid for his spokesperson services in a portfolio of crypto assets managed on the FTX platform

Entrepreneur and venture capitalist Kevin O’Leary is being paid in crypto to serve as an ambassador for FTX after he made an equity investment in the growing cryptocurrency exchange.  

O’Leary, perhaps best known for being a regular investor on ABC’s Shark Tank, said in an interview with Blockworks that the biggest reason many institutional investors hesitate to invest in crypto assets is the uncertainty that they will be fully compliant with regulators and reporting requirements.

“[If] you’re running a billion-dollar mandate and you decide to put 10% into crypto …. you can’t download an app and put $100 million into it,” he explained. “You have to have an infrastructure in place where your internal compliance department can mark to market on a daily basis your positions … and also you have to be able to comply with external regulators. I couldn’t find a structure where I could do that until I met with FTX.”

O’Leary first met FTX founder and CEO Sam Bankman-Fried while at Bitcoin 2021, a conference held in Miami in June. 

After discussions with the FTX team, O’Leary said he grew comfortable that the exchange could integrate with his compliance requirements.

“I don’t put my name on something unless I’m using it. I eat my own cooking,” he told Blockworks. “They have a global compliance platform … and we are going to be adding to our positions across a wide range of different assets.”

The size of O’Leary’s equity investment in FTX Trading and West Realm Shires Services, which owns and operates FTX, is not being disclosed, a spokesperson said.

“We speak with institutional investors interested in moving into crypto and using our platform on a daily basis, and many of them have found their way to us through referrals from our existing institutional clients,” Brett Harrison, President of FTX.US, told Blockworks in an email. “When we speak with potential institutional users, our aim is to act as a resource and provide comprehensive information on exchange functionality, custody, regulation, and compliance.”

FTX is exploring partnerships with traditional custodians, augmenting its transaction monitoring capabilities, and integrating tax reporting tools, Harrison noted. It is looking to attract more liquidity to its on-exchange order books and off-exchange OTC portal, he added, and is focused on taking a proactive approach with regulators.

O’Leary will now serve as a spokesperson for FTX and will be paid for his services in a portfolio of crypto assets managed on the FTX platform.

“Here I’ve got the best platform in the world with the best traders, the most liquidity, the best spreads, the lowest fees,” O’Leary said. “I said, ‘Guys, don’t pay me in fiat. I’m just going to turn around and send it back to you.’”

FTX’s partnership with O’Leary comes just weeks after the company announced it had raised nearly $1 billion for its Series B round, valuing it at $18 billion.

The exchange has taken major steps to boost brand visibility in recent months, such as finalizing a 19-year, $135 million deal with Miami-Dade County in Florida earlier this year to take over naming rights of the Miami Heat’s arena.

FTX also became the official cryptocurrency exchange brand of Major League Baseball in June. The league’s umpires started wearing an FTX patch on their uniforms at the MLB All-Star Game last month, and will continue sporting the patch for future regular season, postseason and spring training games.

Check back at Blockworks.co tomorrow for more on our interview with Kevin O’Leary, including his thoughts on when the SEC could approve a bitcoin ETF and his outlook on non-fungible tokens.

Want more investor-focused content on digital assets? Join us September 13th and 14th for the Digital Asset Summit (DAS) in NYC. Use code ARTICLE for $75 off your ticket. Buy it now.

Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

morpho 2 graphic.png

Research

Utilizing a ‘DeFi Mullet’ approach, Coinbase’s Bitcoin-backed loans integration with Morpho demonstrates a powerful blueprint for CEXs to monetize dormant assets by expanding adoption of wrapped products (cbBTC, USDC) while also supporting native and/or preferred DeFi ecosystems (Base) which can further lead to downstream growth in onchain liquidity and increased utilization of the related assets.

article-image

Documents and sources suggest Neon Machine is running out of cash and has laid off nearly all its employees — and struck a deal with the Chinese government to stay afloat

article-image

The network is at a “pivotal juncture,” Blockworks Research’s Marc-Thomas Arjoon said

article-image

Altcoin trade volume has returned to pre-FTX levels, but with a shrinking pool of market leaders

article-image

Solana Foundation’s former head of strategy proposes increasing the disinflation rate

article-image

With much of the bitcoin mining supply chain based in Asia, US-based operations now face higher equipment prices

article-image

Anticipating an economic downturn, venture firms may be less likely to invest