Shark Tank Star Was Asked If He Would Invest in Sam Bankman-Fried Again. He Said Yes. SBF Got 25 Years in Prison.

Kevin O'Leary had been paid $15 million to be a spokesperson for FTX. Days before making this statement, Sam Bankman-Fried had already funneled at least $10 billion in customer funds to his hedge fund Alameda Research. When asked on the crypto show "Crypto Banter" if he would back SBF again, O'Leary didn't hesitate: yes, calling him "productive," "disciplined," and "efficient." He described SBF as "an unusual one-percent person in terms of understanding how these assets work." Turns out SBF understood exactly how Ponzi schemes work. O'Leary lost his entire $15 million spokesperson fee in the collapse. Sam Bankman-Fried was convicted on seven counts of fraud and conspiracy and sentenced to 25 years in federal prison. When asked what happened, O'Leary blamed "groupthink." The clip of him endorsing SBF went viral as one of the most tone-deaf investment takes in recent memory.