Charles Hoskinson compared SBF to the founder of the largest Ponzi scheme in history

Cardano founder Charles Hoskinson compared former FTX CEO Sam Bankman-Fried (SBF) to the founder of the largest Ponzi scheme for $64.8 billion Бернардом Мейдоффом.

Looking at Michael Lewis’s dumpster fire of a book, there seems to be a group of people in the elite circles who desperately want to somehow get a public exoneration for SBF. We saw this with the kid gloves treatment by the New York times and now a book that’s basically an…

— Charles Hoskinson (@IOHK_Charles) October 9, 2023

Thus the Cardano founder reacted to the content of the Michael Lewis book Going Infinite, which concernsthe collapse of the FTX cryptocurrency exchange.

Hoskinson also accused the media of giving SBF ‘freedom of action’.

In his view, the attention they gave him, despite evidence of illegal misappropriation of funds, shows how corrupt the entire system has become. Especially, ‘if you have the right friends’, he added.

Seems there is a group in the elite that is trying to secure a public exoneration for SBF. We saw this in theNew York Times article, and now in a book that is basically a tour of apologies,

Duringhearings into the seven criminal charges against Bankman-Fried it emerged that he spent millions of dollars crafting his image through aggressive PR spending.

“He didn’t buy a yacht, did he?”

Things SBF did buy:

$100 million naming rights to a stadium
$25 million Super Bowl ad
$55 million for Tom Brady’s time
$10 million for Larry David’s time
$300 million in luxury real estate
$80 million for politicians
$30 million for private jets

— H.E. Cas Piancey (@CasPiancey) October 6, 2023

Earlier it was reported that U.S. authorities seized two aircraft owned by SBF.

Sam Bankman-Fried received $2.2 billion from FTX and Alameda Research

In September, lawyers assessed Bankman-Fried’s chances in court. They went through the charges and calculated the potential sentence for the defendant.