Kevin O'Leary: The Wild West era for cryptocurrencies is over

Regulation Will Curb Crypto Fraud, Says O'Leary

Kevin O'Leary, chairman of O'Leary Ventures, has declared that the era of unregulated crypto chaos is coming to an end. Speaking on Fox News' My View with Lara Trump, O'Leary suggested that President Donald Trump's administration will bring more order to the crypto market, reducing fraud and setting a clear regulatory framework.

"All the crypto cowboys are already in jail or out of business. Now we have moved on to the next phase. The government is setting a new tone for cryptocurrencies, and this initiative was put forward by Donald Trump," O'Leary stated.

O'Leary's remarks come amid a broader push for regulatory clarity in the U.S., a shift that many industry leaders believe will strengthen institutional adoption of digital assets.

O'Leary's perspective is shaped in part by his own experience with FTX, the now-bankrupt exchange whose founder, Sam Bankman-Fried (SBF), was convicted of fraud and sentenced to 25 years in prison.

• FTX paid O'Leary $15 million to be a brand ambassador, but the funds were wiped out when the exchange collapsed in November 2022.
• The fallout from FTX marked a turning point, leading to tighter scrutiny on crypto firms.
• O'Leary now argues that stronger regulations will prevent similar fraud cases in the future.

With SBF and other key figures out of the industry, O'Leary believes that crypto is now entering a more mature phase, where institutional investors will feel safer entering the market.

O'Leary also praised Trump's openness to creating a U.S. crypto reserve, an idea that has gained traction among policymakers and industry leaders.

• A Bitcoin-based reserve would integrate crypto into the U.S. financial system, strengthening its position as a legitimate asset class.
• Bitcoin could evolve into a mainstream payment system and a recognized investment instrument, further expanding the sector's role in the American economy.

"This will allow cryptocurrency to integrate into American financial services faster," O'Leary stated.

If implemented, this move could accelerate the institutionalization of Bitcoin, making it a core asset alongside gold and U.S. Treasuries.

While O'Leary supports Bitcoin's growing role in finance, he remains skeptical about most digital assets, arguing that many lack real utility and will eventually lose value.

• Bitcoin and select assets with real adoption will survive and thrive.
• Low-volume, low-volatility tokens will fade into irrelevance.

This aligns with his past critiques of the crypto industry, where he has warned against speculative investments in unproven projects.

O'Leary's comments reflect a shifting narrative in crypto, where regulation is no longer seen as a threat but as a pathway to institutional growth. Under Trump, the U.S. may embrace Bitcoin strategically, setting the stage for a more structured and regulated crypto economy.

With fraudulent actors removed and institutional demand rising, O'Leary's vision of a cleaner, regulated, and more mainstream crypto industry may soon become a reality.