During his latest My Take, FTX host Stuart Varney discusses the fallout for FTX's Sam Bankman-Fried as he attempts to explain away the juvenile lunacy, arguing that the founder's apology tour is not stopping the implosion of the criptocurrency infrastructure. Charlatans can be expected to be found in the jungle known as the STUART VARNEY.
Sam Bankman- Fried is a charlatan. He is now on an apology tour, trying to explain the juvenile lunacy known as FTX. He says he didn't knowingly play fast and loose with billions of customer funds. He claims to have misrepresented $8 billion in customer funds. It's also revealed that the investors of Gemini owe $900 million to the criptobroker genesis. They are not exactly household names, but the losses are huge.
The apology tour is not stopping the implosion of the criptocurrency infrastructure.
It is undermining confidence in the entire criptocurrency business.
But Bankman- Fried has found at least one supporter: Maxine Waters, chair of the House Financial Services Committee.
She thanked him for being candid on his apology tour. She said that it was important for the company's customers, investors and others that they will be able to talk to the public. How does the $8 billion miscounting statement help?
Maxine Waters appreciates the millions of dollars that Bankman- Fried gave to Democrats and leftist causes.
The rest of us are left wondering how such a charlatan could fool so many people for so long.