The crypto community and entrepreneurs were unconvinced by mainstream media’s attempts to downplay the frauds carried out by FTX CEO Sam Bankman-Fried (SBF).
The judicial leniency granted to SBF for misappropriating consumers’ funds and dubious investment methods through trading firms Alameda Research and FTX has left the world in shock, which has not yet been fully recovered.
Elon Musk, CEO of Tesla, fought to make Twitter “the most accurate source of information,” which came into conflict with the FTX collapse saga and disinformation campaign.
Musk said that SBF gave Democratic candidates over $1 billion, much above the $40 million that was revealed to the public. SBF previously acknowledged giving to the Democratic Party covertly.
Maxine Waters, the Democratic chair of the House Financial Services Committee, and Patrick McHenry, the Republican ranking member, have asked SBF to show up at a hearing that is scheduled for December 13.
Prominent business leaders, including Polygon CEO Ryan Wyatt, who were startled at the tolerance given by the powerful to the fugitive, responded to Waters’ plea by telling him that “he’s (SBF) a criminal.”
The compensated tales that attempt to present SBF favorably are openly criticized by the crypto community. The most recent controversy stems from SBF’s appearances on Good Morning America and the New York Times DealBook Summit. During the “apology tour,” SBF spoke to the media and presented himself as a victim, receiving cheers at the end.