Billionaire owner of NBA team Dallas Mavericks and Stark Tank star Mark Cuban says if he were former FTX CEO Sam Bankman-Fried, he would be afraid of going to jail for a long time. But I thought he was smart … I had no idea he would take other people’s money and use it for personal purposes,” Cuban said.
Mark Cuban talks Sam Bankman-Fried and FTX collapse
Shark Tank star and owner of NBA team Dallas Mavericks In an interview with currency exchange FTX and TMZ Sports published on Saturday, former CEO Sam Bankman-Fried (SBF) said:
Despite the FTX meltdown, Cubans still see value in cryptocurrencies. His opinion:
Many have made many mistakes, but the fundamental values have not changed.
FTX filed for Chapter 11 bankruptcy on his November 11th, Bankman-Fried stepped down as his CEO. Crypto exchanges are currently being investigated in several jurisdictions. In the United States, multiple authorities, including the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), have investigated FTX for mishandling client funds.
Regarding Bankman-Fried, the Cuban emphasized:
I don’t know all the details, but if I were him, I would be in prison for a long time. Time you’d be afraid to go to… sure is bad.
“I spoke to the guy and I thought he was smart,” added the Shark He Tank star. However, he emphasized:
It never occurred to him that he would take someone else’s money and use it for his own personal use.
Bankman-Fried has not been arrested and there appear to be no attempts by law enforcement to make an arrest. Crypto influencer Bitboy recently flew to the Bahamas for answers. He spent the past few days camping outside Bankman-Fried’s condominium in the Bahamas, waiting for SBF to be released.
Cuba’s take on the FTX meltdown is very different from Shark Tank co-star Kevin O’Leary. A trader in the crypto space, he would back the FTX co-founder again if he had another venture.
Also, the owner of the Dallas Mavericks recently announced a I explained that the bankruptcy was not a cryptocurrency bankruptcy, but a bank bankruptcy. “Lending to the wrong entity, misvaluing collateral, arrogant arbitrage, followed by a crackdown on depositors… See long-term capital, savings & loans, and subprime bankruptcies. It’s a different version,” he said.
Furthermore, Mr. Cuban stresses that he is investing in cryptocurrencies because he believes that “smart contracts have a significant impact on creating valuable applications.” derived from the application running on the token.” It’s the platform and utilities they create.
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