Kevin O'Leary says his FTX account balances plunged to zero; takes aim at Bitbuy

Shark Tank star Kevin O'Leary said Tuesday that his investment in now-bankrupt cryptocurrency exchange FTX was a "bad investment" as his venture capital firm's account balances on the platform dropped to zero. O'Leary has deep ties with Sam Bankman-Fried's exchange, having been a shareholder of FTX International and FTX US, he told Crypto Banter in a livestreamed YouTube interview . But Sam Bankman-Fried's crypto empire fell apart last week, when it filed for Chapter 11 bankruptcy in the U.S., as traders rushed to withdraw their funds in the face of FTX's multibillion-dollar balance sheet shortfall. In turn, O'Leary's account balances were completely wiped out when he checked them on Monday, calling it "a tough day. That's a hit." Taking into account the high-profile FTX failure as well as relatively poor regulatory coordination in the U.S., O'Leary said he's moved "my assets off all unregulated exchanges and we're putting them in Canada, where we can find a regulated exchange -- a company called Bitbuy," which is regulated by the Ontario Securities Commission. Bitbuy, of note, is owned by WonderFi Technologies ( OTCQB:WONDF ). "I'm not putting assets where they're not regulated," he emphasized, mostly pointing his finger to the U.S. Overall, O'Leary has proven to be an outspoken crypto investor in recent years. And while he may be altering his crypto-related investment path as a result of the FTX meltdown, he certainly isn't pulling out of crypto entirely. In May, he said crypto will be the 12th S&P 500 sector .