"66 is enough"— Shark Tank's Kevin O'Leary shares support for landmark stablecoin legislation advancing in Senate

During a Fox Business interview posted on his Instagram on May 20, 2025, Shark Tank investor and entrepreneur Kevin O’Leary was asked for his reaction to the advancement of stablecoin legislation, which passed with 66 votes. The question came after the Senate moved a long-debated bill forward, despite prior uncertainty over bipartisan support. In response, O’Leary said,

“But still, 66 is enough. It's good enough. And this bill is relatively clean.”

He emphasized the bill’s role in improving the U.S. position in digital payments and its potential to maintain the US dollar’s global role in price discovery.

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Shark Tank investor Kevin O’Leary reacts to Senate support for stablecoin bill with 66 votes

O’Leary highlights bill’s potential to enhance US digital payment competitiveness

In the interview, Kevin O’Leary characterized the Senate's approval as a “groundbreaking move.”

“This is so important for us to be competitive in digital payment systems around the world,” the Shark Tank investor stated.

His remarks were part of a broader explanation of how the legislation could advance US capabilities in the digital economy. Kevin credited Senator Bill Hagerty with advancing the bill, congratulating him and pointing out the "66 votes" that allowed it to move forward.

He referenced the next step, and expressed hope that Senator John Thune could bring it forward ahead of an upcoming legislative break.

“Soon, I hope can bring it before the break. We don't know yet,” he added, acknowledging remaining procedural uncertainties.

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Legislation secures bipartisan support despite earlier resistance

When asked about the surprising passage of the bill, the interviewer noted,

“The Senate advanced this landmark stablecoin legislation late last night. We weren't sure for a minute there. I thought it was, you know, dead on arrival. 16 Democrats flipped.”

O’Leary explained that political strategy played a part in the shift, noting that he believed Senator Schumer likely influenced the change in votes. He referred to the "flips"— a term highlighting the reversal of position by certain lawmakers— and suggested that Schumer allowed the bill to proceed without offering full bipartisan support.

The Shark Tank investor speculated on the internal dynamics.

“You know, he basically said, look, I don't want to give them a two-thirds. I'm going to let them get it through. But I want to hold back on a partisan basis,” O'Leary suggested.

Kevin O’Leary described the legislation as a "groundbreaker" for crypto, clarifying that it focuses on digital payment systems rather than Bitcoin.

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Stablecoin legislation distinguishes itself from Bitcoin regulation

O’Leary clarified that the proposed legislation does not relate to Bitcoin or other cryptocurrencies but focuses instead on broader digital payment systems. He emphasized that the bill targets "digital payment systems" rather than cryptocurrencies like Bitcoin.

He emphasized that the bill’s passage would support the US dollar’s continued international relevance.

“This does assure us that the US dollar becomes the de facto currency around the world for price discovery on commodities,” he said.

According to Kevin, that aspect of the bill could influence global trade and financial infrastructure. The Shark Tank investor also mentioned resistance from certain lawmakers.

“Elizabeth Warren tried very hard to shut it down. She wasn't successful, and I'm happy about that,” he stated.

Though his remarks reflected relief, the legislative process remains ongoing as the bill awaits further action.

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