Star investor and “Shark Tank” host Kevin O’Leary has signed a multi-year deal with FTX to become an official spokesperson for the U.S.-based crypto exchange.
According to PR Newswire, the partnership with FTX Trading Ltd. and West Realm Shires Services Inc. (owners of FTX.US and FTX.com) will see O’Leary take an equity stake in both firms. Additionally, FTX will pay his salary in crypto.
In the announcement, O’Leary said that “institutional investors struggle with the decision to invest in crypto assets” because they have compliance-related concerns as he did regarding the crypto industry:
“I am no different. I want to increase my crypto exposure but also serve my compliance mandates. When it comes to rapidly changing compliance and tax reporting requirements, the current cryptocurrency ecosystem is fraught with risks that I can not take.”
Regarding his partnership with FTX, he added: “To find crypto investment opportunities that met my own rigorous standards of compliance, I entered into this relationship with FTX.”
O’Leary has been tasked with elevating the brand to large audiences. He already got to work on Twitter by promoting an FTX CryptoPunk NFT giveaway.