Following the judgment on Thursday, Cardano Founder Charles Hoskinson made a sarcastic remark regarding the Sam Bankman-Fried case.
Cardano founder Charles Hoskinson made a snide remark regarding Sam Bankman-Fried’s legal issues in an unexpected conversation on X.
Bankman-Fried, the discredited founder of FTX, is facing charges for allegedly embezzling people’s money and influencing the media.
Cardano Founder Takes a Jab at Sam Bankman-Fried
Hoskinson made a lighthearted remark in reply to a critique of Bankman-Fried, “Should I start giving money to the right people?”
Cardano founder Hoskinson’s sarcastic remark also highlights a significant flaw in the media’s operation.
Certain individuals think big money can sway public opinion and even influence politicians.
Furthermore, unlike Sam Bankman-Fried, Hoskinson states unequivocally that he does not fund the media or members of Congress.
Subsequently, he garnered substantial backing from the Cardano community, which advised him to allocate donations towards essential causes rather than seeking personal gain.
Hoskinson’s reply was in response to a post by Cardano Curation’s founder, Caleb Montiel.
Montiel expressed dissatisfaction with the media’s portrayal of Bankman-Fried as “smart,” despite the possibility that he engaged in fraudulent activities involving public funds.
Moreover, Montiel’s complaint demonstrates that many individuals are dissatisfied with the FTX incident and the potential harm that investors may have suffered.
He also emphasized that investments amounting to billions of dollars were made in the FTX Token (FTT), all of which have since been lost.
In addition, Montiel, a fervent advocate for Cardano, provided Hoskinson with a defense against several allegations.
The Cardano Curation founder expressed concern and compared Hoskinson’s condition to that of Sam Bankman-Fried.
He emphasized that many retail investors had lost their hard-earned money due to the FTT.
Furthermore, Montiel added, “On the flip side, there’s someone who founded a blockchain in a completely legal manner, has been consistently open with everyone about his plans and projects, yet, he is the one called a fraudster/liar.”
XRP Lawyer John Deaton Opposes SBF
On Thursday, March 28th, before the remarks made by the founder of Cardano, former FTX CEO Sam Bankman-Fried encountered a significant legal setback.
For his complicity in an intricate network of fraudulent activities and money laundering that led to the misplacement of $8 billion in client funds, Judge Lewis A. Kaplan imposed a 25-year prison term.
Notwithstanding the potential maximum sentence of 110 years resulting from seven guilty verdicts, Bankman-Fried received a significantly reduced final sentence.
Charles V. Payne, an American journalist, expressed his discontent with Bankman-Fried’s sentence via social media.
He contended that it failed to achieve justice.
In reply to Payne’s post, XRP lawyer John Deaton expressed a similar viewpoint, contending that Bankman-Fried’s conduct merited a more severe penalty.
Furthermore, his statement indicates that he concurred with a similar point put forth by the Cardano Curation founder and other industry stakeholders.
Based on his substantial background as a federal prosecutor and criminal defense attorney, Deaton posited that Bankman-Fried’s sentence ought to have been increased by two-fold, to 50 years.
Moreover, he underscored the severity of Bankman-Fried’s offense and emphasized the necessity for a more rigorous deterrent to prevent similar financial crimes in the future.
