Mike Novogratz: “Sam Bankman-Fried is crazy and should go to jail”

Galaxy Digital CEO Mike Novogratz believes Sam Bankman-Fried has gone crazy and should go to jail. According to Novogratz, it is bizarre that Bankman-Fried stated in his interview with The New York Times that he never wanted to commit fraud.

He’s crazy

After listening to two interviews, Novogratz has come to a clear conclusion. “It is surprising that his lawyers let him talk. […] he is insane,” said Novogratz. Incidentally, the CEO of Galaxy Digital is not entirely innocent either. He had a Luna tattoo done earlier this year. Luna is part of the Terra protocol that spectacularly imploded in May of this year.

Incidentally, Novogratz did not stop at the words that Bankman-Fried is crazy. According to the billionaire, it would be good if the founder and former CEO of FTX went to prison. “The reality is that Sam and his associates have committed fraud. He stole people’s money and has to go to jail,” said Novogratz about Bankman-Fried.

Novogratz is a victim

Incidentally, it is not surprising that Novogratz has this opinion about Bankman-Fried and the rest of FTX. Galaxy Digital, Novogratz’s fund, is also a victim of the problems at FTX. In total, his investment fund will go into the boat for $ 76.8 million. With that, Novogratz again loses money to scams this year. First it was Luna, where he also lost part of his reputation because of the tattoo, and then FTX.

The opinions within the industry about Bankman-Fried are now clear. “Sam Bankman-Fried is talking nonsense. He can’t give a normal answer or look into the camera and is digging a deeper and deeper hole for himself,” said an irate Will Clemente. Hardly anyone in the industry seems to have any sympathy for Sam Bankman-Fried anymore.

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The conclusion is that he fooled millions of people with FTX to make himself rich. Eventually, he also sold “paper Bitcoin.” That is, Bitcoin that does not exist at all, practically putting more into circulation. Among other things, he has damaged the entire Bitcoin community.

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