Lawyer and cryptocurrency advocate John Deaton is criticizing supporters of former FTX CEO Sam “SBF” Bankman-Fried during his ongoing trials related to the collapse of their cryptocurrency project.
In X’s (formerly Twitter) post, Deaton said He said Those who describe SBF as a well-intentioned individual who made mistakes are not qualified to manage people’s finances. He suggested that such sympathizers should not be taken into account when giving interviews to prominent television programs such as CBS’s 60 Minutes.
A major divide has emerged within the cryptocurrency community, with some deeply concerned about SBF’s alleged investor fraud accusations, while others are trying to portray him in a positive light in the media. Even after FTX declared bankruptcy, SBF continued to participate in interviews and was often portrayed as a crypto hero, sparking backlash from the Web 3.0 community.
People who think that SBFraud is a “good guy” who made “mistakes”, FTX grew too fast and everything got away from him, should never be in charge of other people’s money, and certainly, should never be interviewed @60 minutes Or any other media. And yes, his parents…
– John E. Deaton (@JohnEDeaton1) October 7, 2023
Evidence suggests that SBF may have embezzled as much as $8 billion, as evidenced by identified deficits in the bankrupt stock exchange’s accounts.
Under the leadership of John Ray III, the trading platform has recovered more than $7 billion. However, there is a growing call for a ruling on the SBF to act as a deterrent to other innovators in the industry. The XRP holder’s lawyer is determined to hold Joseph Bankman and Barbara Fried, SBF’s parents, accountable as well.
Although FTX’s current leadership is pursuing a legal case against them, no regulatory agency has taken legal action against the famous Stanford law professors. The cryptocurrency lawyer firmly believes that both Bankman and Freed share full responsibility, a view shared by others in the industry.
Related: Sam Bankman Fried Trial: A Week in Review
The criticisms directed at Bankman and Fried led to a positive result According to To Bloomberg, Stanford University, the beneficiary of SBF donations, has decided to return the $5.5 million contribution earmarked for COVID-19 research.
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