Digital Assets: Mike Novogratz Hits Out At Sam Bankman-Fried, Calls For His Prosecution

“He will spend time in jail,” said Novogratz, commenting on Sam Bankman-Fried’s (SBF) recent New York Times (NYT) Dealbook Summit interview.
Mike Novogratz, the billionaire CEO of Galaxy Digital (TSE: GLXY), was unequivocally critical about Sam Bankman-Fried’s virtual New York Times (NYT) Dealbook Summit interview.
“I’m hoping that the authorities get to the bottom of this faster,” Novogratz said to Andrew Ross Sorkin on CNBC’s Squawk Box on Thursday, referring to the FTX imbroglio. “Not just for the sanctity of the crypto markets, but for all markets. Markets are based on trust and when you have trust broken like this, it questions everyone else.” (Bitcoin.com)
“Let’s be really clear. Sam was delusional about what happened and his culpability in it,” Novogratz said. “He needs to be prosecuted. He will spend time in jail. They perpetuated a large fraud. And it wasn’t just Sam. You don’t pull this off with one person,” Novogratz added.
Novogratz continued:
“People start looking for black swans everywhere. So in some ways this is the story of the moment because it’s such a giant story. But your seeing someone who is just spewing more lies. Listen, Sam has always been kind to me and he has a kind demeanor … but that was part of the schtick.”
Galaxy has an exposure of $76.8 million to FTX.
“Right now we’re in a deficit of trust. People think there’s a black swan around every corner, that everyone else is a sociopath, saying one thing and doing something else,” the Galaxy Digital CEO said.
Related Story: More Crypto Players Follow FTX Down The Bankruptcy Route
Image by Ashby C Sorensen from Pixabay

Latest Alternative Investment News

Alternative Investments/ESG: Six New Responsible Funds Flag Off Morgan Stanley’s ETF Platform
Morgan Stanley Investment Management (MSIM) has launched its ETF platform with six Calvert ETFs listed on NYSE Arca. The ETFs feature Calvert’s responsible investing approach and offer access to four…

Artificial Intelligence: MusicLM, A New Generative AI Tool From Google, Creates Music From Text
Google (NASDAQ: GOOGL) recently published a research paper on its new AI tool, MusicLM, designed to create music. The tool is based on machine learning and is trained on vast…

Artificial Intelligence: Snap Mulling AR Glasses Powered By Generative AI
Snap (NYSE: SNAP), the parent company of Snapchat, has hinted at future AR glasses powered by generative AI technology. CEO Evan Spiegel stated that AI will be critical to the…

Digital Assets: Binance And Mastercard Launch Prepaid Crypto Card In Brazil
Binance and Mastercard (NYSE: MA) have jointly launched the Binance Card in Brazil, allowing Binance users in the country to make purchases and pay bills with cryptocurrencies like bitcoin and…