Attempts by mainstream media to dilute the scams committed by FTX CEO Sam Bankman-Fried (SBF) failed to win over the crypto community and entrepreneurs. Instead, the misinformation campaign clashed with Tesla CEO Elon Musk’s drive to position Twitter as “the most accurate source of information.”
The world is yet to get over the shock after witnessing the legal clemency awarded to SBF for misappropriating user funds and shady investing practices via trading firms Alameda Research and FTX. Will Manidis, the CEO of ScienceIO, a healthcare data platform, pointed out that SBF achieved the “highest ROI trade ever” by donating $40 million to the right people for being involved in stealing over $10 billion dollars escaped.
That’s just the publicly announced number. His actual support of the Dem election is likely over $1 billion. The money went somewhere, so where did it go?
— Elon Musk (@elonmusk) December 3, 2022
On the other hand, Musk claimed SBF has donated over $1 billion to Democratic candidates, which is far more than the publicly disclosed $40 million. Formerly SBF authorized Backdoor making donations to the Democratic Party. Musk asked:
“His actual Democratic election support is probably over $1 billion. The money went somewhere, so where did it go?”
US House Financial Services Committee Chairwoman Maxine Waters, a Democrat, and Senior Member Patrick McHenry, a Republican, have asked SBF to attend a preliminary hearing scheduled for December 13.
.@SBF_FTXWe appreciate you being open in your discussions about what happened at #FTX. Your willingness to speak to the public helps the company’s customers, investors and others. To that end, we would welcome your participation in our hearing on the 13th.
— Maxine Waters (@RepMaxineWaters) December 2, 2022
In response to this request, prominent entrepreneurs, including Polygon CEO Ryan Wyatt, informed Waters that “he (SBF) is a criminal” after being shocked at the leniency of those in power towards the fugitive.
Related: FTX collapse sparks curiosity about Sam Bankman-Fried, Google data shows
The crypto community has openly criticized paid narratives that attempt to cast SBF in a good light. The recent backlash is related to SBF’s interviews at the New York Times DealBook Summit and Good Morning America’s interviews.
Speaking to news agencies during the “apology tour,” SBF presented itself as a victim and was applauded at the end. “Watching the SBF interview is a bit like Casey Anthony’s documentary. They’re so mechanical, they’re so inauthentic in their performance. If you feel any emotion at all, it slows people down. The way it’s expressed is a separate subjective matter,” said Twitter user and developer Naom.