​“He needs to be prosecuted.” Galaxy Digital CEO calls FTX’s founder a fraudster

What’s new? Mike Novogratz, CEO of investment firm Galaxy Digital, said in an interview with reporter Andrew Sorkin that the former CEO of the bankrupt crypto exchange FTX, Sam Bankman-Fried, should be prosecuted. He called Bankman-Fried’s comments about the FTX Group collapse in the media “delusional” and was surprised that the attorneys let him speak. Novogratz also called for the former exchange CEO and his associates to be jailed because together they “perpetuated a large fraud.”

"It was delusional. Let's be really clear. Sam was delusional about what happened and his culpability in it," says @novogratz. "He needs to be prosecuted. He will spend time in jail. And it wasn't just Sam. You don't pull this off with one person." pic.twitter.com/0SSh1r8XIL — Squawk Box (@SquawkCNBC) December 1, 2022

Who else disagrees with the former FTX CEO’s comments? On November 14, Tesla and SpaceX CEO Elon Musk called Bankman-Fried’s interview with the New York Times a puff piece. The piece did not reveal details about the handling of customer funds, and the journalist did not ask pointed questions. Many representatives of the crypto industry agreed with Musk, pointing to the complementarity of the material and even admitting that through its informational support the newspaper helps Bankman-Fried to avoid justice.

Later, Musk, in a comment under the news of Bankman-Fried’s upcoming appearance at the NYT’s DealBook Summit, called the media articles about the former FTX CEO “one the biggest failures in US journalistic integrity of the 21st century.”

On Nov. 30, Sorkin interviewed Bankman-Fried as part of DealBook, who joined the conversation from his residence in the Bahamas. During the conversation, Bankman-Fried stuck to the theory that FTX’s collapse was the result of the market crash while admitting that he had not performed well as CEO of the exchange and had made many management failures.

Mark Karpeles, the former owner of bankrupt Mt. Gox, spoke about what awaits FTX and Sam Bankman-Fried. For more details on his opinion, read GetBlock Magazine’s article.