John Deaton, an XRP holder’s attorney and crypto advocate, has criticized supporters of former FTX CEO Sam Bankman-Fried (SBF) during his ongoing trials related to the collapse of their crypto venture. Deaton expressed on his official X platform that individuals characterizing SBF 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.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. As a result, Stanford University has decided to return the $5.5 million contribution earmarked for COVID-19 research. The collapse of FTX has raised questions about the trustworthiness of crypto exchanges.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | negative |
| Relevance Score | 8 |
| People | Sam Bankman-Fried, Joseph Bankman, John Ray III, Barbara Fried, John Deaton |
| Companies | Web 3.0, FTX, Stanford University, Bloomberg, 60 Minutes |
| Currencies | Bitcoin, ftx, Ethereum, US Dollar, XRP |
| Securities | None |
