Hedge fund manager Bill Ackman believes that Sam Bankman-Fried is not a crook. FTX failed because SBF was trying to avoid embarrassment.
American billionaire investor and CEO of hedge fund Pershing Square Capital Management has a theory for the failure of the FTX exchange. The hedge fund led by Bill Ackman manages more than $18.5 billion in assets under management.
Sam Bankman-Fried To Avoid Embarrassment Did Stupid Sh-T: Bill Ackman
Bill Ackman compared Sam Bankman-Fried to Bernie Madoff, an American fraudster who ran a $64.8 billion Ponzi scheme. He They say Neither Sam Bankman-Fried nor Bernie Madoff had “the typical profile of a crook”.
In his theory, he noted that FTX was profitable, and there was no reason for Sam Bankman-Fried to commit fraud. SBF was embarrassed after the losses, and assumed it could “borrow” customer money to cover the losses.
As the market crashed, so did the losses very big to recover from. Bill Ekman observes that for MIT grads, “failure is so horrific that they cannot accept it, and they do stupid things to avoid the embarrassment.”
community calls out the irony
Earlier, when Sam Bankman-Fried apologized Bill Ackman defended them on Twitter, saying that the SBF should be given credit for accountability. He later deleted the tweet upon receiving feedback from community members.
Alex Svanevik, CEO of blockchain analytics platform Nansen, points to the irony of Bill Ackman.
Bill Ackman, on the other hand, tweeted that Sam Bankman-Fried’s $250 million bill is a criminal charges,
officials are accused
After the collapse of FTX, allegations began pouring in because disgraced founder Sam Bankman-Fried was walking free. Even after his arrest by the Bahamian authorities, the SBF enjoyed luxurious treatment in prison. Also, with $250 million bail, crypto influencer believes that That SBF made a mockery of the American judicial system.
The most recent allegation comes from Congressman Tom Emmer. He alleged that the Securities and Exchange Commission made backroom regulatory deals with FTX.
SEC-registered stockbroker Bruce Fenton agrees with the Congressman. He They say, “I’m not getting questions answered by the SEC – let alone meetings with the chairman.” In addition, the community draws some more conspiracy theories With the criminal trial judge, Sam Bankman-Fried.
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