.Ripple CTO JoelKatz says both FTX founder and Madoff built a Ponzi, but there were some huge differences
, who is also a co-creator of XRP Ledger and XRP, has taken to Twitter to sort of defend the reputation of FTX founder Sam Bankman-Fried.
Ripple CTO believes that while many on Twitter are now comparing FTX to Madoff’s Ponzi scheme, there are “huge apparent differences”. Still, he admits that FTX ended up to be a Ponzi. Schwartz believes that unlike Bernie Madoff, who created the largest Ponzi in history worth nearly $65 billion, Sam Bankman-Fried seems to have started FTX as a legal crypto business and then it gradually turned into a pyramid, while Madoff started with a Ponzi deliberately, perhaps hoping to replace it with a legitimate company later on.He believes that FTX started to turn into a Ponzi when Alameda Research trading firm linked to it began losing money.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Ripple CTO Makes Ironic Comments about Ripple and Himself Considering FTX PurchaseDavid Schwartz says that Ripple was going to acquire FTX, but there were not enough funds for it
Lire la suite »
Crypto Influencer Who Warned About FTX Shares His View on What to Do NowCrypto influencer Ben 'Bitboy' Armstrong shares new prediction after foreseeing FTX crash bitboy xrparmy xrpcommunity ftx xrp ftx ftxcrash $xrp $ftx
Lire la suite »
Ledger hardware wallets hit by the FTX earthquake — CTOEven cold storage did not stand the heat from the FTX volcano erupting. There was a massive outflow from exchanges to Ledger wallets on Wednesday, which made some users unable to process their withdrawals.
Lire la suite »
FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
Lire la suite »