Wolf of Wall Street Jordan Belfort Says Sam Bankman-Fried Used FTX As 'Personal Piggy Bank'.
22 Nov 2022, 08:00
Wolf of Wall Street Jordan Belfort Says Sam Bankman-Fried Used FTX As ‘Personal Piggy Bank’
Jordan Belfort, otherwise known as the original Wolf of Wall Street, is giving his view on what he thinks happened behind closed doors at the bankrupt crypto exchange FTX.
In a new Fox Business interview, Belfort says it’s a misconception that FTX is a crypto exchange.
“It’s not an exchange. It’s like a brokerage firm or a bank that was holding customers’ money, and they were basically siphoning it off. He was using it as his own personal piggy bank, Sam Bankman-Fried. People deposited their money in FTX because they want to trade, like any brokerage firm. It would be the equivalent of going to JPMorgan Chase, deposit your money in your Chase bank account and then you find out that actually [JPMorgan CEO] Jamie Dimon has been taking your money personally and going to Las Vegas and gambling on the weekends because your money, his money – what’s the difference?