Mark Cuban: If I Were Sam Bankman-Fried, I’d Be Afraid of Going to Jail for a Long Time

The billionaire proprietor of the NBA squad Dallas Mavericks and a Stark Tank star, Mark Cuban, says that if helium were the erstwhile FTX CEO Sam Bankman-Fried, helium would beryllium acrophobic of going to jailhouse for a agelong time. “I talked to the feline and thought helium was astute … I had nary thought helium was going to instrumentality different people’s wealth and enactment it to his idiosyncratic use,” Cuban said.

Mark Cuban connected Sam Bankman-Fried and FTX’s Collapse

Mark Cuban, a Shark Tank prima and the proprietor of the NBA squad Dallas Mavericks, talked astir the collapsed crypto speech FTX and its erstwhile CEO Sam Bankman-Fried (SBF) successful an interrogation with TMZ Sports, published Saturday.

Despite the FTX meltdown, Cuban inactive sees worth successful cryptocurrency. He opined:

There’s been a batch of radical making a batch of mistakes, but it doesn’t alteration the underlying value.

FTX filed for Chapter 11 bankruptcy connected Nov. 11 and Bankman-Fried stepped down arsenic the CEO. The crypto speech is presently being probed successful respective jurisdictions. In the U.S., respective authorities, including the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC), are investigating FTX for mishandling lawsuit funds.

Regarding Bankman-Fried, Cuban stressed:

I don’t cognize each the details, but if I were him, I’d beryllium acrophobic of going to jailhouse for a agelong clip … It definite sounds bad.

“I talked to the feline and thought helium was smart,” the Shark Tank prima added. However, helium emphasized:

I had nary thought helium was going to instrumentality different people’s wealth and enactment it to his idiosyncratic use.

Bankman-Fried has not been arrested and truthful acold determination look to beryllium nary efforts by instrumentality enforcement to apprehension him. Crypto influencer Bitboy precocious flew to the Bahamas to get immoderate answers. He spent the past mates of days camping extracurricular Bankman-Fried’s condo successful the Bahamas waiting for SBF to travel out.

Cuban’s presumption of the FTX meltdown is drastically antithetic from his Shark Tank co-star Kevin O’Leary who inactive insists that Bankman-Fried is one of the best traders successful the crypto abstraction and helium would back the FTX co-founder again if helium has different venture.

The Dallas Mavericks proprietor besides precocious explained that the FTX implosion is not a crypto blowup, but a banking blowup. “Lending to the incorrect entity, misvaluations of collateral, arrogant arbitrages, followed by depositor runs … See semipermanent capital, savings & loan, and sub-prime blowups. All antithetic versions of the aforesaid story,” helium said.

In addition, Cuban emphasized that helium invests successful crypto due to the fact that helium believes “smart contracts volition person a important interaction successful creating invaluable applications,” noting that “the worth of a token is derived from the applications that tally connected its level and the inferior they create.”

What bash you deliberation astir the comments by Mark Cuban? Let america cognize successful the comments conception below.

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