Past couple of weeks has been a roller coaster for the crypto world. FTX which was backed by some of the most well know folks at the wall street went down overnight because of a potential fraud which is under investigation. The whole of the crypo community is in anger because centralized crypto exchange FTX, run by Sam Bankman-Fried who was potentially involved in fraud, appears to be downplayed by major news media. Millions of people lost money with FTX bankruptcy and so is some of the major investors as well. Crypto Twitter has shown their anger in variety of ways and some of the largest traders appears to have left trading for good due to the lost funds from FTX bankruptcy.
Recently Wall Street Journal published an article which appears to have soft corner towards Sam Bankman-Fried, the former CEO of FTX and not exposing the fraud behind it. This has been quoted by various crypto twitter members since the downfall of FTX.
In response to that, Elon Musk, the owner of Twitter responded on WSJ article about giving foot massage to the criminal.
Further in response to that, Mike Saylor one of the most respected personality in the crypto community further added which reflected the thoughts of the entire crypto community.
Sam counterfeited billions in tokens via securities fraud, inflated that by billions more via accounting fraud, seized billions from customers via banking fraud, corrupted the establishment with the dirty money, then panic sold billions in stolen #bitcoin to crash the market.
Michale Saylor further added saying the intension was not to save the world.
Since FTX bankruptcy, Sam Bankman also tweeted about him being invited as a speaker for NYT panel which raises questions of why he is protected so much and not inside bars when he frauded millions around the world while still staying at his residence in the Bahamas.
Some of CT also suspects that NYT was paid by Sam Bankman which is why he is protected.
Only time will tell the truth since everyone expected news agencies like WSJ and NYT considers as 4th wing of democracy but these FTX/Sam case appears to raise eyebrows.
Elon Must bought twitter to protect the freedom of speech and to protect the trust and Twitter is serving its purpose in FTX case where known personalities are speaking out openly .
The impact of FTX bankruptcy has raised lot of eyebrows in the crypto industry and also has impacted lot of other companies which dependent on them or leveraged them for business. The crypto world is waiting to see if regulators and law enforcement will investigate this potential fraud and give justic to its investors and customers.
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