Founder of Galaxy Digital Mike Novogratz slammed Sam Bankman-Fried (SBF) following his recent media comments on the collapse of FTX.
“He was delusional. Let’s be very clear. Sam was delusional about what happened and his culpability,” she says. @novogratz. “He has to be prosecuted. He’s going to spend time in jail. And it wasn’t just Sam. You can’t deal with one person.” pic.twitter.com/0SSh1r8XIL
— Squawk Box (@SquawkCNBC) December 1, 2022
“It was nonsense. Let’s be clear. Sam was thrilled with what had happened and his fault. He needs to be held accountable,” Novogratz told Squawk Box host Andrew Sorkin.
Galaxy Digital founder was surprised that lawyers “allow [Бэнкману-Фриду] talk”. In his view, the former head of FTX and his associates “perpetuated the fraud” and should be in jail.
Previously SBF interviewed by Tiffany Fong declaredthat the exchange’s utility token (FTT) “had real value” and its collapse was caused by the actions of investors. He also denied information that he used a backdoor into the FTX system, which allowed him to transfer assets to Alameda Research accounts.
On December 1, the founder of the platform ruled out the misuse of client funds.
In an interview with the founder of IBC Group, Mario Naufal, SBF said he didn’t know what was happening in his companies. Community members expressed dissatisfaction with her responses and behavior during the interview.
@SBF_FTX why is your voice continually drifting away from the microphone while no other speaker does?
Who are you with, who is quietly instructing you on what your answers are? What’s your distraction that you keep walking away from the mic?
How about hooking up to a lie detector?
—CryptoB513 (@CryptoB513) December 1, 2022
“SBF, why are you constantly speaking over the mic, unlike other speakers? […] How about getting in touch with a lie detector?” wrote one user.
Kraken co-founder Jess Powell has suggested that Bankman-Fried doesn’t understand how margin trading works.
SBF is completely full of crap about how margin trading works. He’s saying that the entire exchange operated on an equity model and anyone could borrow anything (of any amount?) from client funds or out of thin air. That’s not how it’s supposed to work.https://t.co/3k7PkbAHVM
— Jesse Powell (@jespow) December 1, 2022
“He says the exchange worked on a net account balance model and anyone could borrow anything (any amount?) from customer funds or out of thin air. That’s not how it’s supposed to work,” Powell wrote.
11 November FTX Group files for insolvency pursuant to Chapter 11 of the United States Bankruptcy Code. Bankman-Fried stepped down as CEO.
Later he expressed regret due to this decision and stated that it should continue its efforts to find funding. John Ray, who has taken over as head of FTX and director of restructuring, urged not to focus on SBF talks.
Recall that on November 16 it became known that a group of American investors filed suit against Bankman-Fried.
A few days later, a resident of Canada went to court, accusing the former CEO of the exchange, the former head of Alameda Research Caroline Ellison and the NBA club Golden State Warriors in false advertising.
According to media reports, the American authorities launched investigations regarding the exchange of bitcoins. Texas Securities Council sent a notice to Bankman-Fried on participation in the hearing of 2 February 2023.
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