Mike Novogratz calls Sam Bankman-Fried’s statements ‘delusional’.

Galaxy Digital founder Mike Novogratz criticized Sam Bankman-Fried (SBF) after his latest remarks in the media regarding the FTX collapse.

«It was delusional. Let’s be really clear. Sam was delusional about what happened and his culpability in it,» says @novogratz. «He needs to be prosecuted. He will spend time in jail. And it wasn’t just Sam. You don’t pull this off with one person.» pic.twitter.com/0SSh1r8XIL

— Squawk Box (@SquawkCNBC) December 1, 2022

«Это был бред. Давайте проясним. Сэм бредил о том, что произошло, и о своей вине в этом. Его нужно привлечь к ответственности», — заявил Новограц в разговоре с ведущим Squawk Box Эндрю Соркиным.

The Galaxy Digital founder was surprised that lawyers were allowing Bankman-Fried to speak. In his view, the former FTX chief and his associates “perpetrated the fraud” and should be in prison.

Earlier, in an interview with Tiffany Fung stated that the exchange’s utility token (FTT) “had real value,” and that its collapse was caused by investors’ actions. He also denied reports that he allegedly used a backdoor in the FTX system that allowed him to transfer assets to Alameda Research accounts.

On December 1, the founder of the platform ruled out improper use of customer funds.

In a conversation with IBC Group founder Mario Nawfal, SBF said he did not know what was going on in the companies. Community members expressed dissatisfaction with his answers and conduct during the interview.

@SBF_FTX why’s your voice continually straying form the mic while no other speaker’s are?

Who’re you with, who’s quietly coaching you as to what you’re responses are? What’s your distraction that you keep moving away from the mic?

How about we hook you up to a lie detector?

— CryptoB513 (@CryptoB513) December 1, 2022

«SBF, почему ты постоянно говоришь мимо микрофона в отличие от других спикеров? […] Как насчет того, чтобы подключить тебя к детектору лжи?», — написал один из пользователей.

Co-founder of Kraken Jesse Powell suggested that Bankman-Fried does not understand margin trading.

SBF is completely full of shit about how margin trading works. He’s saying that the whole exchange operated on a net account equity model and anybody could borrow anything (in any amount?) from client funds or from nowhere. That’s not how it should work.https://t.co/3k7PkbAHVM

— Jesse Powell (@jespow) December 1, 2022

«Он говорит, что биржа работала по модели чистого баланса счета, и любой мог занять что угодно (в любой сумме?) из клиентских средств или из ниоткуда. Это не так должно работать», — написал Пауэлл.

On November 11, FTX Group filed for bankruptcy under Chapter 11 of the US Bankruptcy Code. Bankman-Fried stepped down as CEO.

Later, he expressed regret about that decision and said he should have continued efforts to secure funding. John J. Ray III, who took over as FTX’s CEO and chief restructuring officer, urged not to rely on SBF’s statements.

Earlier, it was reported that a group of American investors filed a suit against Bankman-Fried.

A few days later a Canadian resident accused the former CEO of the exchange, former Alameda Research head Caroline Ellison and the NBA’s Golden State Warriors of deceptive advertising.

According to reports, U.S. authorities have begun investigations into the bitcoin exchange. The Texas State Securities Board sent Bankman-Fried a notice of participation in a hearing on February 2, 2023.

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