SAM Bankman-Fried is Similar to ‘Wolf of Wall Street’- Michael Saylor

While interacting with Yahoo Finance, Saylor highlighted his statement, ” Proof-Of-Stake tokens are backed by nothing.” He termed this the most appropriate reason the FTT token failed.   

Saylor noted, “This(FTX and FTT) crash will boost regulatory intervention.” he further noted, ” I mean, in fact, in a sense, SBF is like the Jordan Belfort of the crypto era. Instead of ‘The Wolf of Wall Street,’ they’ll make a movie called ‘The King of Crypto.   

Belfort was convicted of stock market manipulation in 1999 and was sentenced to 22 months in Jail; Leonardo DiCaprio then portrayed him in the 2013 film “The Wolf of Wall Street.”

According to some reliable media sources, Netflix, a streaming platform, is planning to make a web series on Sam Bankman-Fried. 

Sam was CEO of FTX while filing bankruptcy, and after the filing, he resigned from his post; the vacant post of FTX CEO was later replaced by John Jay Ray III.  

After he resigned from the company, Sam noted that he would be working with FTX as an adviser to the firm during the leadership transition and will try to bring.  

FTX exchange was among the top three crypto exchanges in the crypto market globally, and nobody had the idea that in just the upcoming 24 hours, the company was going to file bankruptcy.  

When FTT token prices mirrored a massive and unprecedented downtrend in the market, investors and users were in fear, and all of them were busy retrieving their funds. 

 The bankruptcy filing of FTX has affected more than 150 plus companies globally. 

FTT is an ERC-compatible exchange token. The Ledger Nano X/S hardware wallet allows users to securely store and manage the FTT tokens via the Ethereum app. 

Saylor underlined that Sam ” was using counterfeit money and stolen money to lobby against all of the virtues in the industry — against proof of work, against bitcoin.”  

Michael added, “He(Sam) was working to corrupt regulations and political processes. When you have actors that use corrupt counterfeit, stolen money to undermine the industry, it’s not good for anybody. So yeah, I think that people need to decipher this. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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