Michael Novogratz, founder of crypto bank Galaxy Digital, has criticized Sam Bankman-Fried following his latest statements over the collapse of FTX.
Novogratz has said:
“It was delusional. Let’s be really clear. Sam was delusional about what happened and his culpability in it. He needs to be prosecuted.”
The Galaxy Digital founder has been surprised that the lawyers are “allowing Bankman-Fried to speak.” In his view, the former FTX CEO and his associates “perpetuated the fraud” and should be prosecuted.
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Bankman-Fried has previously said that the exchange’s utility token (FTT) “had real value,” and its collapse was caused by the actions of investors. He has also denied information that he allegedly used a backdoor in the FTX system that allowed him to transfer assets to Alameda Research accounts.
On December 1, the platform founder ruled out misuse of client funds.
Bankman-Fried has also said he did not know what was going on at his companies.