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Cuban is asking people to not panic over the FTX scandal
There were many different celebrities from all walks of life that were affected by the FTX scandal, a lot of them decided to withdraw from the crypto world completely. While others like Mark Cuban remain convinced this will only remain temporary and cryptocurrency will recover. After Sam Bankman-Fried scammed many for billions, he is facing many years in prison and declared bankruptcy recently. But Mark Cuban still trusts crypto and won’t retire his purse.
TMZ approached Cuban on the street to ask him about the scandal and confirmed he met with Bankman-Fried in the past. This is what he said: “Separate the signal from the noise. There’s been a lot of people making a lot of mistakes, but it doesn’t change the underlying value. I don’t know all the details, but if I were him, I’d be afraid of going to jail for a long time. I talked to the guy (Bankman-Fried)and thought he was smart. I had no idea he was going to take other people’s money and put it to his personal use.”
There is a massive lawsuit that involved celebrities currently against Sam Bankman-Fried. They are accusing him of using their name to scam people out of their money. Once you see the list of celebrities who are involved in this lawsuit, you can get a better idea of how serious this is for Bankman-Fried. Household names such as Tom Brady, Gisele Bündchen, Stephen Curry, Shaquille O’Neal, David Ortiz, Trevor Lawrence, Shohei Ohtani, and Naomi Osaka are involved.
People like Mark Cuban probably had too much money invested in crypto to simply bow out of the entire blockchain. Those who lost the most money have no other option but to keeptheir crypto intact and hope the market recovers over the next couple of months. However, this is highly risky because all crypto remains vulnerable and in danger of losing even more value. Cuban‘s intention was to keep people hopeful but the evidence shows they should all be worried.
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