Latest News

Kevin O’Leary Launches Web3 Fund And becomes UAE Citizen

According to Shark Tank, Kevin O’Leary intends to introduce Cipher, an investment fund that focuses on Web 3.0.

The Canadian businessman claimed that he recently naturalized as a citizen of the United Arab Emirates so that he could “work freely” in a nation that has drawn investment from some of the biggest names in the cryptocurrency industry, including exchanges FTX, Binance, and

As a spokesperson for cryptocurrency exchange FTX and an investor in financial technology firm Circle, the creator of the USDC stablecoin and the organization behind the Converge22 conference, O’Leary is a vocal supporter of Web3 technology.

Since the $40 billion collapse of the Terra-LUNA token and stablecoin in May, which compelled regulators worldwide to concentrate on drafting regulations for the emerging industry, the market for cryptocurrencies has been in a prolonged slump.

The fact that the remaining players are still operating has strengthened them, according to O’Leary. They have the ability to raise money.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.