Renowned Shark Tank star, Kevin O’Leary, predicts a formidable challenger to crypto giant Binance.

In an interview with Fox Business, O’Leary unveils M2, a new crypto exchange emerging from Abu Dhabi.

He asserts that M2, touted to be the largest regulated exchange globally, is poised to draw significant business away from existing players, thanks to its substantial capital and connections with major institutional entities.

The Demise of the "Crypto Cowboy"

O’Leary dismisses the era of the "crypto cowboy” that he mentioned in November 2021.

Instead, he now emphasises the impending shift towards regulated exchanges.

M2, he claims, is set to make a groundbreaking announcement within the next ten days.

With billions in backing and ties to significant financial institutions, the exchange aims to redefine the crypto landscape, luring users away from Binance.

Regulatory Compliance and Institutional Backing

Highlighting the importance of regulatory compliance, O’Leary notes that the new exchange, M2, will provide a compliant alternative for users.

He suggests that Binance may lose a substantial portion of its user base to M2, offering a platform supported by billions of dollars and reputable financial entities.

However, he points out that Americans may be restricted from registering on M2.

O’Leary's Eagerness to Invest

Expressing eagerness to become an early investor in the project, O’Leary underscores the potential impact of M2 on the crypto exchange landscape.

He draws attention to the collapse of FTX, a platform he promoted before its downfall, and emphasises the need for a compliant and stable exchange like M2.