FTX founder Sam Bankman-Fried should be concerned about going to jail, according to Mark Cuban. The billionaire majority owner of the Dallas Mavericks also believes that cryptocurrencies are here to stay despite the FTX debacle.
SBF Has Left A lasting Impression
A lot has been said about SBF, the former multi-billionaire and “King of Crypto,” since the collapse of his crypto empire on November 11. People had and still have differing opinions of the 30-year-old former FTX CEO before and after the FTX collapse.
Canadian entrepreneur and media personality Kevin O’Leary describes SBF as “the Warren Buffett of bitcoin.” The New York Times best-selling author of the personal finance book Rich Dad, Poor Dad, Robert Kiyosaki, has referred to SBF as “the Bernie Madoff of cryptocurrencies.”
The FTX insolvency has caused other crypto investors to label him as a “criminal,” “liar,” and “fraudster,” among other pejorative terms. Speaking to TMZ, Mark Cuban said that he did not have all the details that led to the demise of FTX, and added that if he was in Bankman-Fried’s shoes, he would be worried about ending up in jail for a long time.
The former FTX CEO had left an impression on many people before the FTX collapse. CZ, the CEO of Binance is one of the high-ranking people in the business world who has publicly shared the impression Bankman-Fried had on him when they met. He viewed Bankman as an intelligent guy with a modest demeanor.
CZ, whose company attempted to take over FTX before the mighty collapse, sees Bankman-Fried in a different light these days. He was cited as saying;
“I think Sam lied to his employees, his users, his shareholders, regulators all around the world, and all the users,”
Cuban has been a prominent supporter of cryptocurrencies, once calling the well-known memecoin Dogecoin “real money” and the “strongest” form of exchange. Investors accuse Bankman-Fried and other prominent figures, including NBA star Stephen Curry, former NBA star center Shaquille O’Neal, and renowned NFL quarterback Tom Brady, of causing more than $11 billion in damages to customers.
Cuban, a maximalist proponent of Ethereum, claims that the money won’t lose value as long as users have access to practical options in the crypto world.
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