If it’s up to billionaire investor and entrepreneur Mark Cuban, Sam Bankman-Fried must fear a long prison sentence. Cuban is the majority owner of the Dallas Mavericks professional basketball team in the United States. He is also one of the “sharks” in the American “Shark Tank”.
Cuban fears for SBF
The bad and especially strange news about FTX, Alameda Research and Bankman-Fried keeps pouring in. Now it is Cuban who indicates that the founder and former CEO of the exchange platform is likely to face a long prison sentence.
“I don’t know the details, but if I were him I would be afraid of going to prison for a long period of time. I talked to him and thought he was smart, but I had no idea he would gamble away his clients’ money,” said Cuban.
Galaxy Digital CEO Mike Novogratz fully endorses Cuban. He too thinks SBF will spend some time in jail. On December 1, he told CNBC viewers: “He must be prosecuted. He will spend time in prison. They constructed a major fraud and it wasn’t just Sam. You can’t do this alone,” said Novogratz.
respect for calling it what it is @novogratz well done
— Luke Martin (@VentureCoinist) December 1, 2022
Cuban’s fellow billionaire hopes that authorities will get to the bottom of this matter. Not just for the crypto market, but for all markets. Markets, according to Novogratz, are based on trust and if that is broken, you can suddenly question everything.
Bribing The Block
Yesterday it was also added that Alameda Research transferred millions of dollars to the CEO of The Block. In total, this is an amount of USD 43 million, which the CEO of the news platform received in three phases. The first 13 million was to buy the majority of shares in the news platform, the next 15 million was for day-to-day operations, and then another 15 million went towards real estate in the Bahamas.
The CEO of The Block is anyway got up after the news. What exactly SBF, FTX and Alameda Research were planning with The Block is not clear. In any case, employees of the company indicate that the now resigned CEO Michael McCaffrey did not try to influence the news.