Charles Hoskinson slammed American journalist Michael Lewis for supporting infamous crypto entrepreneur SBF, saying all these things show the depth of the real level of corruption.
Michael Lewis is an American journalist and financial author. He was not known in the crypto sector, but attracted major attention in recent weeks after an interview in which he supported FTX co-founder Sam Bankman-Fried (SBF) and indirectly blamed Binance CEO Changpeng Zhao (CZ) for the demise of the FTX exchange.
Early this month, Michael Lewis successfully published his book via Amazon.com under the name “Going Infinite: The Rise and Fall of a New Tycoon”.
Through the book, Lewis shed light on the role of the former CEO of the FTX, SBF, and explained how he managed the FTX stock exchange perfectly and gained popularity in the world as the stock exchange reached second place in the world within a few years world in crypto trading volume.
He also added a summary of a previous deal between Binance CEO CZ and the former CEO of FTX, SBF, and tried to explain that CZ was trying to make a profit and SBF was willing to give a profit because of the bad situation. In short, Lewis tried to show CZ as the culprit behind the bankruptcy of the FTX exchange, which is not true.
Cardano blockchain founder Charles Hoskinson shared his thoughts on this book, saying that Lewis’ book shows the depth of the fraud.
Hoskinson also said that all these things show that there is a large group of corrupt people who just want SBF to get out of all fraud allegations.
SBF, FTX and bankruptcy
There is no doubt that SBF was a wise person, but he never used his wise mind in the perfect way to run the stock market. He allegedly misused the FTX client’s fund for personal benefits, such as giving to friends and relatives, and for large amounts of political donations.
Currently, SBF is in jail and the trials continue to conclude whether SBF was a fraudster and the main culprit behind the demise of FTX or whether the demise of the exchange was an isolated incident.
During the October 6 trial, little-known FTX co-founder Gary Wang testified in court and said that FTX did not hold any amount of insurance funds, but that the exchange showed a fake amount of $100 million using a special type of Python code on the website.
Before that, Gary disclosed in the lawsuit that FTX’s sister company Alameda Research was allowed to withdraw any amount of money from the FTX exchange under the direction of SBF, which was illegal because Alameda took money from FTX customers without the FTX customer’s consent.
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