Almost Half of All Cryptocurrencies Will Go to Zero – Kevin O’Leary
During an interview with Scott Melker, venture capitalist and Shark Tank host Kevin O'Leary predicts that cryptocurrency exchange Binance may soon come under regulatory pressure.
O’Leary stated that he considers all unregulated exchanges to be a risk and that the shareholders of Binance should be concerned about the attention the company is receiving from regulators worldwide.
“I do not place my assets in any exchange that is not regulated, whether decentralized or centralized. This does not affect me as I do not possess any of it. However, I presume that the shareholders of Binance would be worried about the increasing regulatory activity surrounding the exchange, not just from US regulators, but regulators worldwide.”
He went on to say that the management of Binance should work towards settling with regulators, even if it incurs a cost, as there is significant value in having a properly licensed and large platform like Binance.
READ MORE: Litecoin is Ready for a Parabolic Rally, According to Top Analyst
“However, while regulators across the globe are investigating the exchange, no institution will touch it. The scrutiny is only expected to intensify as more hearings take place,” O’Leary added.
Regarding the current state of the crypto industry, he remarked that it is still filled with a large number of worthless coins and projects, most of which have no future. In his opinion, at least 10,000 crypto tokens will eventually become worthless due to a lack of volatility and volume and will eventually be eliminated from the market.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
