Hoskinson compared SBF to the creator of the largest Ponzi scheme


Cardano founder Charles Hoskinson compared former FTX CEO Sam Bankman-Fried (SBF) to the creator of the largest $64.8 billion Ponzi scheme in history, Bernard Madoff.

This is how the founder of Cardano reacted to the content of Michael Lewis’s book Going Infinite, which is dedicated to the collapse of the FTX Bitcoin exchange.

Hoskinson also accused the media of giving SBF “free rein”.

In his opinion, the attention they gave him, despite evidence of misappropriation of funds, shows how corrupt the entire system has become. Especially if you have the “right friends,” he added.

“It appears that there is a group within the elite that is trying to get SBF publicly vindicated. We saw this in New York Times articleand now in a book that is essentially an apology tour.” Hoskinson explained.

During the hearing on seven criminal charges brought against Bankman-Fried, it was revealed that the latter spent millions of dollars on building his image through aggressive PR spending.

Earlier it became known that the US authorities confiscated two aircraft belonging to SBF.


Let us recall that in September, lawyers assessed Bankman-Fried’s chances in court. They examined the charges and calculated the possible sentence for the accused.

Found an error in the text? Select it and press CTRL+ENTER

ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!

Leave a Reply