The criminal fraud trial of disgraced FTX CEO Sam Bankman-Fried and the subsequent guilty verdict on Friday, November 3, has drawn the attention of many — from crypto bulls to skeptics and even U.S. regulators — raising questions about the legitimacy of the greater cryptocurrency market.
The Wolf Of All Streets Podcast Host Scott Melker does not believe the FTX fallout has any lasting impact, stating plainly: “This was a case of fraud that has literally nothing to do with crypto.” Melker specifies that crypto was just the vehicle to perpetuate SBF’s Ponzi scheme and that on a global scale, this case is just “an American phenomenon.”
Cahill Gordon & Reindel LLP Partner Sam Enzer also joined Yahoo Finance, partially agreeing with Melker with the stipulation that the U.S. government had to “understand the technology” of crypto in order to prosecute. Long term, both Enzer and Welker appear hopeful about regulation and assurances that crypto investors in the U.S. will likely be protected from future fraud.
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19 Comments
Well as we see you can believe what ever you want to believe. But will the Judge and jury believe it ? Is what you might need to worry about.
Crypto is a ponzi scam. Find Satoshi.
The woman reporter seems to be out of sync with the interview stepping on her guests wird’s and asking unrelated questions
Many, many examples of fraud in the “crypto world”. Your guest may want to forget this chapter but there are at least three more very high level individuals awaiting trial for billion dollar frauds associated with crypto. Not an isolated incident
Great stream, as always. I appreciate the level-headed approach you take to the news and the markets.Most beginners believe that investing in crypto and stock is all about holding till it rises, with the recent crash in the market and recession. We should know that long term price predictions are very difficult to achieve. It's better to trade short term and make profit. Hudson Jayden got me %100 as I am comfortably earning up to 12 BTC with 3.4 btc as i trade
Go after the naked shorters and I’ll be impressed
400 million AMC tokens supposedly backed by AMC stock
To crypto pumpers everything is positive
All of Crypto, all of Bitcoin, is a scam. Yet these shills insist that fraud is independent of crypto. Crypto itself is a ponzi scheme. It has no value.
I think there should be a public trial for the campaign donation violations and bribing Chinese officials for two reasons. First, the public has a right to know this information. The public was deprived of a public trial of the fraud charges. Second, his sentence might be lighter than it should be and two other trials would give him the linger sentences that he deserves.
Set him free he is innocent the w.e.f set him up
Don't lock him up … Force him to work for the state for ever
The only negative from this trial, the irresponsible "think tank" investors that blindly invested their customers money without due diligence and blindly invested with Scam Bankrupt Fraud. O Leary Scarmuccis and them, should join SBF in jail for being idiots.
No stolen funds. FTX has recovered nearly 100% of deposits. If depositors get less than 100% it’s because trial lawyers fees.
FRAUD IS FRAUD
Will he be sentenced to decades in prison or will he spend a fraction of the estimated sentence and come out write a book and become a super star with just a large a folloowimg as before he went in?
Warren buffet is right about this kind of investment ..bs bs bs..never go into crypto
Why even suggest whether Bankman fried could be rehabilitated. This mental behaviour merely overlooks the crimes committed it minimises the pain and grief caused. Throw away the key to murderers, peadophiles' tortureres and fruadsters. And include lying Presidents, priministers, MP's and Bankers into that mix too – And why have the SEC gone unanswerable to how they failed to identify the crimes committed by Fried? What did they choose not to prevent?
that crypto-world is a scam. Period.