Billionaire enterprise capitalist Chamath Palihapitiya says collapsed crypto alternate FTX was an “huge monetary fraud” that impacted tens of thousands and thousands of individuals.
In a brand new interview on the All-In Podcast, Palihapitiya says disgraced former FTX CEO Sam Bankman-Fried is manipulating the media for a second time along with his ongoing “apology tour.”
“[Bankman-Fried] went to the right elite non-public highschool. Then, he went to some of the prestigious elite non-public universities. His mother and father train governance of all issues at some of the elite liberal establishments in America. They’re within the institution of the progressive left.
And what occurred was, he took buyer funds and all of this cash, he made tens of thousands and thousands of {dollars} of political donations, he wrapped himself on this blanket of a progressive, left-leaning trigger referred to as ‘efficient altruism’ and the entire mainstream media fell for it and embraced him, in addition to some politicians, as a result of it met all the things that they themselves additionally purchased into.
And now you’ve this cataclysmic occasion, a multi-deca-billion greenback fraud or chapter, thousands and thousands of buyer accounts which can be frozen. Tens of thousands and thousands to a whole bunch of thousands and thousands to billions of {dollars} misplaced and stolen from them, they usually refuse to re-underwrite this child, and the reason being as a result of, to be able to do, it’s like consuming your personal tail.”
Palihapitiya says Bankman-Fried architected a “refined con” that didn’t face any strain from reporters or regulators. The billionaire attributes that lack of strain to Bankman-Fried saying “the entire proper issues.”
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