Attorney and crypto advocate John Deaton criticizes supporters of former FTX CEO Sam "SBF" Bankman-Fried during his ongoing trials related to the collapse of their crypto venture.
In an X (formerly Twitter) post, Deaton said that those characterizing SBF as a well-intentioned individual who made errors are unfit to manage people's finances. He suggested that such sympathizers should not be considered for interviews with prominent television shows like CBS's 60 Minutes.
A divide has emerged within the crypto community, with some deeply concerned about SBF's alleged investor fraud charges while others attempt to portray him positively in the media. Even after FTX's bankruptcy filing, SBF continued to participate in interviews and was often depicted as a crypto hero, sparking backlash from the Web3 community.
Cointelegraph is covering Bankman-Fried's trial on the ground as the former FTX CEO faces seven counts of conspiracy and fraud.
FTX has successfully recovered over $7 billion in assets. However, there is a growing call for SBF's sentencing to act as a deterrent for other industry innovators. Deaton is also resolute in holding Joseph Bankman and Barbara Fried, SBF's parents, accountable.
Despite FTX's present leadership pursuing a legal case against them, no regulatory agency has initiated legal action against SBF's parents. Deaton believes that Bankman and Fried share full responsibility for their son's alleged crimes — a view shared by others in the industry.
Related: Sam Bankman-Fried goes on trial: A week in review
According to Bloomberg, Stanford University has decided to return the entirety of donations received by FTX, amounting to roughly $5.5 million.
Magazine: Can you trust crypto exchanges after the collapse of FTX?
Source: Cointelegraph.com
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