Attorney and crypto advocate John Deaton criticizes supporters of former FTX CEO Sam “SBF” Bankman-Fried during his ongoing trials related to the collapse of their crypto venture.
Deaton expressed on his official X platform that individuals characterizing Sam Bankman-Fried as a well-intentioned individual who made “errors” and attributing the company’s rapid expansion to his loss of control are unfit to manage people’s finances. He suggested that such sympathizers should not be considered for interviews with prominent media outlets like 60 Minutes.
A significant divide has emerged within the crypto community, with some deeply concerned about SBF’s alleged investor fraud charges, while others attempt to portray him positively in the media. Even after FTX’s bankruptcy filing, SBF continued to participate in interviews and was often depicted as a crypto hero, sparking backlash from the Web 3.0 community.
People who believe SBFraud is a “good guy” who made “mistakes”, and FTX grew too fast and it all got away from him, should NEVER be in charge of other people’s money, and certainly, should never be interviewed by @60Minutes or any other news outlet. And yes, his parents are …
— John E Deaton (@JohnEDeaton1) October 7, 2023
Evidence suggests that SBF may have misappropriated as much as $8 billion, as indicated by the deficit identified in the exchange’s bankrupt accounts.
Under John Ray III’s leadership, the trading platform has successfully recovered over $7 billion. However, there is a growing call for SBF’s sentencing to act as a deterrent for other industry innovators. XRP holder’s attorney is resolute in holding Joseph Bankman and Barbara Fried, SBF’s parents, accountable as well.
Despite FTX’s present leadership pursuing a legal case against them, no regulatory agency has initiated legal action against the acclaimed Stanford University law professors. The crypto lawyer firmly believes that both Bankman and Fried share full responsibility, a viewpoint shared by others in the industry.
Related: Sam Bankman-Fried goes on trial: A week in review
The criticism directed towards Bankman and Fried has resulted in a positive outcome, as according to Bloomberg, Stanford University, a recipient of SBF’s donations, has decided to return the $5.5 million contribution earmarked for COVID-19 research.
Magazine: Can you trust crypto exchanges after the collapse of FTX?
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