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Saylor: FTX was unethical and illegal from the start.

Saylor’s analysis:

Saylor analyses SBF’s antics, which ultimately led to the loss of his empire, and deems him the “poster child of the crypto world.”

The executive chairman of MicroStrategy and a proponent of Bitcoin, Michael Saylor, recently gave an interview in which he discussed his viewpoint on the demise of the FTX empire.

Saylor claimed that there has been a low-grade “boiling Guerrilla war” between the Bitcoin community and the cryptocurrency community for years over business practices like what he frequently refers to as “shitcoinery.”

Sam Bankman-Fried was “the poster child” for the latter in Saylor’s eyes.

“The ability to create your unregistered security is unethically flawed. Sam and the majority of others in the cryptosphere were perpetual shitcoiners.
According to him, the intrinsic issues in the cryptocurrency community are greed, hubris, and ignorance. He ascribes such conduct to these issues.

FTX tale:

The FTX tale then took on what Saylor refers to as “the diabolical twist,” in which SBF generated billions from air tokens and issued billion-dollar loans to himself using user monies.

While many have refuted the claims made about SBF and his mishandling of assets, Saylor received praise from the Reddit community for his succinct description of the matter and straightforward comparison of BTC.

Despite not being a fan of Saylor normally, one user claimed that his explanation was among “the greatest in the entire space.”

Saylor had also made remarks on the FTX incident before. Along with Binance CEO Changpeng Zhao, he was one of the first to call for the community to adopt self-custody in the early stages of the unraveling.

Conclusion:

The crypto world anticipated the hearing on December 13 to look into the exchange’s collapse. The committee presiding over the hearing has stated that they anticipate SBF and related parties to appear in court on this date to provide testimony.

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