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Mark Cuban thinks we should worry about FTX founder Sam Bankman-Fried going to jail.
“I don’t know the details, but if I were him, I would have been afraid of going to jail for a long time,” said the billionaire Dallas Mavericks owner. told TMZ“That’s certainly bad. I actually talked to the guy and thought he was smart, but boy, did he take other people’s money and use it for his personal use.” I didn’t think I’d use it.
US crypto investors sued Bankman-Fried Earlier this month, a 30-year-old man with a mop of hair claimed he engaged in deception along with celebrities he enlisted. The class-action lawsuit targets cryptocurrency exchange FTX against ignorant investors across the nation, whose yield accounts are unregistered securities sold illegally in the U.S., and investors have lost $11 billion. claims to have suffered damage.
U.S. authorities are investigating FTX after a spectacular implosion and bankruptcy earlier this month shook confidence in the beleaguered cryptocurrency sector and sparked renewed calls for tighter regulation.
In the lawsuit, NFL legend Tom Brady, NBA star Stephen Curry, my neighbor seinfeld with co-creators curb your enthusiasm Star Larry David Appeared in commercial For crypto exchanges (Super Bowl commercials for David). FTX has become the heavyweight of sports marketing Buying the naming rights to the NBA’s Miami Heat stadium and looking to build trust in the brand.
Former Treasury Secretary Larry Summers, referring to the stadium deal, Comparing FTX’s collapse to the Enron scandal: “Not just financial errors, but certainly from the reports, it smells of fraud. The naming of the stadium very early in the company’s history. Wealth that no one fully understands where it comes from. Explosive explosion of.”
However, Cubans still believe in the potential of cryptocurrencies.
“Separate the signal from the noise,” he said. Many people have made many mistakes, but the fundamental values remain the same.
Cuban commenting on the collapse of FTX and other exchanges earlier this month murmured:
These bombings are not cryptocurrency bombings, they are bank bombings. See Explosion of Prime All different versions of the same story.
He also Common Thoughts About Bankman-Fried at a conference hosted by sports business journal This month it said:
“First you have to understand the cipher. There is speculation that’s all the noise. Then there’s what happened [crypto platform] At Voyager and now at FTX, there are people who run greedy and stupid companies. So what does Sam Bankman do? He justgive me more, give me more, give me moreso I borrow money, lend it to affiliates, and keep his FTT tokens on my balance sheet holding value.
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