In his blog post, Mike Novogratz discussed the interview that his rival, FTX CEO Sam Bankman-Fried gave to CNBC in which he explained that his cryptocurrency company had engaged in unethical and dishonest activities, denying any knowledge of the catastrophe as one of the best well-known catastrophes in the world.
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Sam must understand that what took place was his fault, according to @novogratz. The letter stated that the former CEO of FTX must be brought to justice. He’ll serve some period in prison. And he also accused Sam’s team, as such a deed cannot be done alone.
SBF’s claims of ignorance regarding what was taking place at his company were flatly refuted by Novogratz, who argued that SBF must be held accountable for its deeds. The prominent cryptocurrency businessman continued by saying that SBF and his associates ought to be charged by the legal system, the sooner, the better.
Novogratz likewise emphasized the significance of bringing criminals to justice, such as those accountable for FTX’s demise, which led to more bankruptcies in the cryptocurrency industry overall to date. Not just for the cryptocurrency marketplace, but for the whole stock market.
Additionally exposed to FTX is the CEO of Galaxy, who is rumored to have assisted the famous Luna undertaking prior to its failure. His relationship with FTX cost him approximately $76.8 million, according to a statement made by Galaxy on November 9th.
SBF rejects accusations of wrongdoing
While exerting influence across the industry, the creator of FTX asserted that he was not guilty. He admitted that he purposefully wasted client funds in an interview with the finance media reporter A. Sorkin at the DealBook meeting.
The CEO of the former crypto trading corporation stated that he was really sorry about the event that took place and was full of regret about what had happened. He stated he should have taken a bigger initiative in the direction of his company, and that might have saved his business and his money. And would have prevented the trader from its drastic collapse.
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