Despite Sam Bankman-Fried’s exchange collapsing with an estimated $8 billion hole in its finances, Mr. Wonderful said he would support him again.
FTX collapsed last week with a hole of around $8 billion, leaving potentially more than a million creditors on the hook.Shark Tank’s Kevin O’Leary said he would back former FTX CEO Sam Bankman-Fried again if he had a new venture. This comes despite FTX’s collapse that left potentially“You can love him or hate him for what’s happened. But he was one of the most brilliant traders in the crypto universe,” said O’Leary in an interview with Onchain Capital CEO Ran Neuner on Crypto Banter.
O’Leary said Bankman-Fried would have to suffer “the slings and arrows” but that he still liked the former CEO and felt sorry for him. Bankman-Fried’s exchange collapsed after a bank run on the exchange revealed it did not have enough liquid assets to cover its client liabilities. Bankman-Fried that the exchange technically has enough illiquid assets but doubts have been raised that the assets can be sold for anywhere close to their supposed value.
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