• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

FTX’s downfall resulted from the market acting as ‘judge

Crypto Newsmart by Crypto Newsmart
3 years ago
in Crypto Updates
Reading Time: 2 mins read
30
VIEWS
Share on Facebook
FTX’s downfall resulted from the market acting as ‘judge, ju…

Prolific podcaster and cryptocurrency investor Anthony Pompliano has not lost faith in people or the crypto industry despite the disappointing conduct of former FTX CEO Sam Bankman-Fried.

Bankman-Fried, once widely regarded as crypto’s “white knight” is now a pariah in the crypto industry due to — by his own admission — the “careless” mishandling of FTX customer funds and his ongoing strange behavior on Twitter.

Appearing on Nov. 17 at the Texas Blockchain Summit, Pompliano was asked about how to ensure high-quality representation “in the halls of power,” responding that market forces eliminate bad people as quickly as bad businesses:

“It might be a little counterintuitive, but the free market is a hell of a fucking referee. If you watch what just happened, this industry is who held the industry accountable. […] CZ is the one who used market forces to take that company [FTX] down,” he said.

“At the end of the day, the judge, jury, and executioner was the free market and the industry itself.”

Pompliano continued, “The good people, they survive, the bad people, they end up getting washed out.”

Always enjoy visiting the great state of Texas, where the citizens understand the importance of private property, personal defense, and economic liberty pic.twitter.com/5POeuSDuex

— Pomp (@APompliano) November 17, 2022

Speaking on CNBC on Nov. 15, Pompliano said, “I think there are a lot of people saying, ‘I don’t have any information. I don’t know what’s going on.’”

Pompliano added he had businesses with money on FTX’s platforms and an advertising relationship with the crypto exchange.

Related: Crypto will generate more wealth than the internet, says Morgan Creek Capital CEO

Pompliano, an ardent Bitcoin supporter, founded North Carolina-based Morgan Creek Digital Assets with Mark Yusko in 2018. He also runs the Pomp Crypto Jobs website. He has attracted attention for saying pseudonymous Bitcoin creator Satoshi Nakamoto deserves a Nobel Peace Prize, advocated for the inclusion of crypto in pension funds, and dismissed crypto mining’s energy consumption saying, “crucial things in the world use energy.”

Morgan Creek Digital Assets was reportedly putting together an alternative offer for BlockFi before FTX invested $680 million in the crypto lender in a bailout in July.

 

Source link

 

Crypto Market Crash? What happened with FTX?

Related Posts

CoinDCX CEO Denies Reports of a 0M Acquisition by Coinbase
Crypto Updates

CoinDCX CEO Denies Reports of a $900M Acquisition by Coinbase

30 July 2025
Dragonfly Capital Faces Potential Charges Over Tornado Cash Ties, Vows to Fight Back
Crypto Updates

Dragonfly Capital Faces Potential Charges Over Tornado Cash Ties, Vows to Fight Back

27 July 2025
TRON’s record-breaking performance in H1 2025 highlighted in Cointelegraph and CryptoQuant research reports
Crypto Updates

TRON’s record-breaking performance in H1 2025 highlighted in Cointelegraph and CryptoQuant research reports

24 July 2025
Bitcoin Darknet Giant Abacus Vanishes
Crypto Updates

Bitcoin Darknet Giant Abacus Vanishes

21 July 2025
SPX6900 Hits .89 New ATH – TOKEN6900 Is Where the Next 1000x Cult Begins, ICO Hits 0K
Crypto Updates

SPX6900 Hits $1.89 New ATH – TOKEN6900 Is Where the Next 1000x Cult Begins, ICO Hits $630K

18 July 2025
Federal Reserve clears US banks to custody crypto assets including Bitcoin
Crypto Updates

Federal Reserve clears US banks to custody crypto assets including Bitcoin

15 July 2025

[convertful id="153816"]

by CurrencyRate.Today
  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Preferences
{title} {title} {title}