"I'd fire him" – Kevin O'Leary criticizes Coinbase CEO for fighting with SEC

The latest crypto regulation wave saw the United States Securities & Exchange Commission suing exchange Coinbase for illegal operations. As invezz.com reported, the trading firm’s CEO was ready for a court battle with the regulators.

However, Kevin O’Leary criticized Armstrong’s attitude towards lawmakers during a Yahoo Finance interview. Shark Tank star believes going to war with Gensler will yield pessimistic outcomes.

Kevin O’Leary slams Coinbase CEO

Kevin O’Leary is against Coinbase’s Brian Armstrong for resorting to war with the SEC. Invezz.com news show the securities regulator filed a suit against the leading cryptocurrency firm for operating as a broker, clearing agency, and exchange without certification.

Moreover, the lawmakers alleged that Coinbase sold and offered securities without authorization. While perceiving Coinbase CEO as a pioneer, O’Leary stated that he would fire Armstrong if he worked for him. He added that he would withdraw his investments if he were among the exchange’s shareholders.

O’Leary has no interest in investing in a service that’s at war with regulators. He added that he lost $15M on the now insolvent FTX exchange, whose CEO faces multiple civil and criminal felonies.

O’Leary believes crypto is worthless

Kevin O’Leary Commented on the cryptocurrency market, stating that the industry has been stagnant for three years amidst a lack of institutional awareness. He added that you could hardly find businesses that use crypto, indicating faded interest.

Shank Tank star believes crypto will remain worthless until the market resolves the ongoing issues. He trusts the industry has nothing besides the fun of cheering.