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Bitcoin community calls for legal action against former FTX CEO

Published

2 years ago

2 December 2022

Key facts:

Mike Novogratz, CEO of Galaxy Digital, said SBF and his team were criminals.
Nic Carter believes that SBF is using journalists to promote its narrative.

Former FTX exchange CEO Sam Bankman-Fried (SBF) has made statements to major U.S. media outlets in recent days, sparking anger from prominent members of the bitcoin community and the cryptocurrency world.

One of those who has sent a message asking for Bankman-Fried’s head.was Galaxy Digital CEO Mike Novogratz. In a interview The former executive told CNBC, “He must be prosecuted. He will spend some time in jail. They perpetuated a big fraud. And it wasn’t just about Sam. You don’t do it with just one person.

According to Novogratz, Bankman-Fried “ranted about what happened (with FTX) and his culpability” during his appearance at the recent New York Times Dealbook Summit.

“I’m not saying he planned the whole thing as a criminal mastermind,” the Galaxy executive commented. assures that what SBF and his team did “was criminal.”. I hope the authorities will get to the bottom of this matter as soon as possible.”

In this sense, he believes that prompt action by the judiciary is necessary “not only for the sanctity of cryptocurrency markets, but for all markets.” By this he means that markets are based on trust, and when this is broken, their functioning is challenged.

On November 9, 2022, Galaxy revealed that he had invested $76 million in FTX.

Meanwhile, bitcoiner and Coin Metrics co-founder Nic Carter showed his impressions of SBF’s interviews with the New York Times and other media.

In this regard, Carter express that SBF does not behave like a renegade who ignores the advice of his lawyers, but rather the opposite. “He is acting as if he has a world-class crisis management company,” he said.

According to Carter’s analysis, A legal team is behind the SBF. that “constructs a very specific and deliberate public narrative.”

If this strategy works, it suggests that “he’s not just doing these interviews out of the goodness of his heart, but he’s using journalists as fools to promote a specific message,” Carter said.

These reactions came after SBF admitted in an interview that. he was not quite sure what had happened to the FTX money. and its clients while he held the position of chief executive officer, as he reported CryptoNews.

During the interview, Bankman-Fried claimed that Alameda Research did indeed use FTX clients’ money, although he later justified himself by saying he was “not 100 percent sure.”