Elon Musk Says Sam Bankman-Fried Should Go To Jail: 'Let's Give Him Adult Time Out In The Big House'
Calls for the arrest of Sam Bankman-Fried, founder of tainted cryptocurrency exchange FTX, have intensified and on Saturday Elon Musk joined the chorus.
What happened: When Devin Simonson, an entrepreneur, tweeted that "SBF needs no further mention except for their court date", Musk is stepped in and said he agreed with him.
“Okay. Let's just give him an adult time out in the big house and move on,” the billionaire said.
Why it matters: For the uninitiated, Bankman-Fried's FTX crashed after reports of leverage and solvency issues led to a liquidity crisis, causing a collapse of the FTX Token FTT/USD, the central cryptocurrency exchange's own. As a result, FTX filed for bankruptcy and Bankman-Fried was removed as CEO.
The crypto entrepreneur is now being questioned by federal agencies to find out if his role in the collapse of FTX constituted a crime.
Galaxy Digital CEO and billionaire Mike Novogratz recently said in an interview with CNBC Squawk Box that Bankman-Fried should be sued. He perpetuated a great fraud and he will spend time in jail, Novogratz added.
Incidentally, Bankman-Fried declared his innocence during a recent virtual interview as part of the New York Times DealBook Summit.
Read next: Kevin O'Leary explains why Blockchain will reveal the truth behind the collapse of FTX: "It's going to become clear"
Photo: courtesy of commons.wikimedia.org and dvidshub.net
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Calls for the arrest of Sam Bankman-Fried, founder of tainted cryptocurrency exchange FTX, have intensified and on Saturday Elon Musk joined the chorus.
What happened: When Devin Simonson, an entrepreneur, tweeted that "SBF needs no further mention except for their court date", Musk is stepped in and said he agreed with him.
“Okay. Let's just give him an adult time out in the big house and move on,” the billionaire said.
Why it matters: For the uninitiated, Bankman-Fried's FTX crashed after reports of leverage and solvency issues led to a liquidity crisis, causing a collapse of the FTX Token FTT/USD, the central cryptocurrency exchange's own. As a result, FTX filed for bankruptcy and Bankman-Fried was removed as CEO.
The crypto entrepreneur is now being questioned by federal agencies to find out if his role in the collapse of FTX constituted a crime.
Galaxy Digital CEO and billionaire Mike Novogratz recently said in an interview with CNBC Squawk Box that Bankman-Fried should be sued. He perpetuated a great fraud and he will spend time in jail, Novogratz added.
Incidentally, Bankman-Fried declared his innocence during a recent virtual interview as part of the New York Times DealBook Summit.
Read next: Kevin O'Leary explains why Blockchain will reveal the truth behind the collapse of FTX: "It's going to become clear"
Photo: courtesy of commons.wikimedia.org and dvidshub.net
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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