After FTX founder Sam Bankman- Fried admitted to funneling billions of dollars in customer funds to his own hedge fund, Kevin O'Leary was asked if he would still invest in him. In a video that has gone viral on social media, O'Leary thinks about the question for a few seconds and says yes to Bankman- Fried. On an episode of the showCrypto Banter, which has over half a million subscribers, O'Leary admitted that he was a paid spokesman for FTX. While Bankman-Fried could go to prison for what he did, he is a genius who should be given a second chance, according to O'Leary. He was one of the most brilliant traders in the universe and we can all admit that. One of the most powerful platforms was built by him. FTX was used a lot by us. It was a very robust platform that allowed us to get information that was compliant. "I said so." O'Leary said.
Is it possible that you would back him? ran Neuner asked
Yes, the answer would be. I will let you know how I would do it. I wouldn't do it in a normal way. The assets would not be under his control. He would have the ability to make decisions.
The shareholder in FTX said he last talked with SBF on Thursday, before FTX filed for Chapter 11. The Shark Tank celebrity assured viewers that he was a brilliant mind and that he would come out on top when the time was right.
"I know all the players in the market, and I'm just telling you, there's nobody like him."
It is against the law for SBF to use at least $10 billion in FTX customer funds to support his hedge fund. Nothing of what FTX counted as assets has to be counted as fraud. FTX created fake money and passed it off as real money.
This illegal and fraudulent act is being treated as some kind of oopsie-daisy by many people. The New York Times painted a picture of SBF as a guy who had bad luck with his investments.
We don't know the facts yet and he's going to wait until we know more about what happened Thanks to reporting at outlets like the Financial Times, we know that SBF admitted to using FTX funds to make risky bets at Alameda.
In the new interview, O'Leary describes SBF as productive, Disciplined, and Efficient.
Sam Bankman- Fried is an uncommon one percent person who understands how assets work.
We have to agree with you on that one. SBF was aware of how ponzi schemes worked. We wouldn't give him a dime after what he's done to the average working person.
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