Samuel Bankman-Fried took Do Kwon’s place by becoming the most traded and arguably hated person in the cryptocurrency industry in November when his empire collapsed and society discovered his dirty laundry.
Latest to join the bashing party is Coinbase CEO – Brian Armstrong – who had some strong words to say about people believing the latest SBF story.
After a few weeks of silence in the dark, Bankman-Fried finally broke his silence and appeared several times publicly, revealing some shocking revelations about FTX, Alameda, and everything in between.
Among these was an attempt to explain one of the elephants in the FTX room – $8 billion, which was somehow missing from the company’s balance sheet and ultimately prevented the sale to Binance.
The SBF claimed that it and its directors made an accounting error, which resulted in an $8 billion loss. However, very few people actually buy into his explanations, and the CEO of Coinbase wasn’t among them.
I don’t care how messy your books are (or how rich you are) – you’ll certainly notice if you find an extra 8 billion to spend.
Even the most naive person should not believe Sam’s claim that this was an accounting error.
– Brian Armstrong (@brian_armstrong) December 3, 2022
After urging people not to believe the Bankman-Fried story, Armstrong said what many in the community had speculated in recent weeks — that the $8 billion was in fact “stolen client money used in his hedge fund.”
Remember, the SBF had a hard time answering a direct question about whether it knew user funds were transferred from FTX to Alameda, although the former CEO of the latter company recently confirmed this.
Some people actually think SBF
While the SBF hasn’t been able to prove any of his claims, and the likes of Brian Armstrong and Mike Novogratz have tried to call him out on it, there are some notable figures who have sided with the former FTX boss.
Billionaire hedge fund manager – Bill Ackman was among the first to offer his support to the public. Kevin O’Leary – Shark Tank co-host, as well as a respected Canadian investor – echoed Ackman’s words. This was all the more surprising since he admitted to losing “millions as an FTX investor,” and was also a paid spokesperson who famously said the exchange is about as safe as it gets.
Coinbase CEO: Even the Most Naive People Shouldn’t Believe SBF appeared first on CryptoPotato.