Galaxy Digital CEO Mike Novogratz recently told CNBC that former FTX CEO Sam Bankman-Fried needed to be locked up in jail.
The comments came a day after Bankman-Fried spoke at the New York Times’ DealBook Summit, where he tried to deny having any knowledge of what was happening in his crypto empire.
Novogratz claimed that Bankman-Fried is “just spewing more lies” after watching the former FTX CEO’s live interview with the New York Times on Wednesday.
Novogratz told financial writer Andrew Ross Sorkin on CNBC:
“It was delusional; let’s be really clear. Sam is delusional about what happened and his culpability in it.”
He added:
“We can all be like dime-store psychiatrists, right? There’s a lot of narcissism there. There’s a lot of grandiosity…He needs to be prosecuted. He will spend time in jail.”
During an extended interview with Sorkin at the DealBook Summit event on Wednesday, the disgraced co-founder spoke out about his company’s headline-grabbing demise.
The implications of the FTX crash, according to Novogratz, would extend beyond crypto to all markets in general. He also stated that he does not believe Bankman-Fried acted alone.
“You don’t pull this off with one person. I’m not saying he even planned this all like a criminal mastermind. What they did was criminal and they need to be prosecuted for it.”
During the hour-long live interview, Bankman-Fried denied diverting FTX clients’ funds to trading company Alameda on purpose.
Sorkin again addressed the elephant in the room, asking Bankman-Fried whether he was worried about going to jail. The FTX co-founder believes he is not personally liable for any illegal activity and is presently working on other matters.
Novogratz’s comments come as the recent collapse of FTX, once the third-largest cryptocurrency exchange in the world, has eroded user trust in centralized crypto platforms. Early investigations into FTX and its disgraced founder Sam Bankman-Fried shows that there were unparalleled fraud and deception going on at the exchange.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
