SBF ‘Really Hurt the Industry,’ Claims Anthony Scaramucci
- Anthony Scaramucci said that the founder of FTX, Sam Bankaman-Fried, SBF, “really hurt the crypto space.”
- He said that SBF embarrassed a lot of politicians who spent time with him, including Gary Gensler.
- Scaramucci said that Binance and CEO Changpeng Zhao will lead the crypto space after FTX’s demise.
- He said that Canada has learned from the mistakes made by the US regulators with FTX.
Anthony Scaramucci, an American financier and former White House Director of Communications, claims that the crypto industry was “really hurt” by the actions of the founder of bankrupt crypto exchange FTX, Sam Bankman-Fried, also known as SBF in the crypto space. The crypto entrepreneur is facing multiple charges in US courts.
Scaramucci noted that SBF “really hurt the industry in the United States from a regulatory perspective” while talking about the recent actions taken by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) against multiple crypto firms.
The crypto-supporter was present at the Collision 2023 conference, and as per a report from a reputed media outlet, Scaramucci stated that SBF embarrassed most of the politicians that had spent a considerable amount of time with him, including the Chair of the Securities and Exchange Commission, Gary Gensler.
“He embarrassed the politicians; he gave a lot of money to them. They spent a lot of time with him, Gary Gensler spent a lot of time with him. And then they had this huge situation that happened. And that was very embarrassing. And so now the pendulum has swung too far to over-regulation in this ridiculous prosecutorial oversight,” said Scaramucci.
The American financier said that the regulators in Canada learned from the mistakes that the regulators in the US made, with SBF adding that Canadians “set it up the way we used to do things in the United States.”
“They went to the industry. They said, ‘Okay, how do we fairly regulate the industry? How do we protect ourselves from bad actors?’ Most of the industry players know one another, and then […] they work alongside their legislators to come up with guidelines,” he said.
Scaramucci noted that after the collapse of FTX and its founder, SBF, being questioned for his involvement in the same, Binance and CEO Changpeng Zhao are expected to lead the crypto industry. He said that he will “give him an A on execution and growing Binance. It’s 65ish percent of the overall market. So I’ll give him an A on that. He probably gets a C+ or B on transparency around it.”
He noted that “maybe in the beginning, they had some things that they did there that were regrettable. But it’s just the SEC [Securities and Exchange Commission] that is suing them; we have yet to see anything criminal.”
As per an earlier statement from the global investment firm based in New York City, Skybridge Capital, he believes that the crypto bear market is almost over.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
