Cardano Founder Charles Hoskinson Offers Spicy Take On Sam Bankman-Fried Case

Story Highlights

• Cardano Founder Charles Hoskinson took a jibe at Sam Bankman-Fried.
• His playful remark spotlighted SBF's endeavors to fund the media.
• The Cardano community and other crypto stakeholders joined the frenzy as they believe that SBF's 25-year sentence isn't adequate.

In a surprising exchange on X, Charles Hoskinson, the founder of Cardano, made a sarcastic comment about Sam Bankman-Fried’s legal problems. Bankman-Fried, the disgraced founder of FTX, is in trouble for allegedly looting people’s money and influencing the media.

Cardano Founder Takes A Jibe At Sam Bankman-Fried

In response to a post criticizing Bankman-Fried, Hoskinson joked, “Should I start giving money to the right people?” Cardano founder Hoskinson’s sarcastic comment also points out a serious issue in the way the media works. Some people think that big money can control what people think and even influence politicians.

Moreover, Hoskinson affirming that he isn’t indulged into funding the media or Congressmen as in the case of Sam Bankman-Fried. Hence, he received immense support from the Cardano community who asked him to donate where it’s necessary instead of looking for personal benefits. Hoskinson’s comment came in response to the post by Cardano Curation Founder Caleb Montiel.

Montiel complained about how Bankman-Fried was portrayed as “smart” by the media even though he might have resorted to illicit activities using people’s money. Furthermore, Montiel’s complaint shows that many people are upset about what happened with FTX and how investors might have been hurt. In addition, he highlighted that billions of dollars were invested in the FTX Token (FTT), which is now all lost.

Furthermore, Montiel, who is an avid supporter of Cardano, defended Hoskinson against several allegations. The Cardano Curation founder compared Hoskinson’s condition to that of Sam Bankman-Fried and expressed distress.

He underscored that many retail investors lost their hard-earned money to FTT. Moreover, Montiel added, “On the flip side, there’s someone who founded a blockchain in a completely legal manner, has been consistently open with everyone about his plans and projects, yet, he is the one called a fraudster/liar.”

Also Read: XRP Lawyer John Deaton Says SBF Deserves Harsher 50-Year Jail Term

XRP Lawyer John Deaton Stands Against SBF

Prior to the Cardano founder’s comments, FTX’s former CEO Sam Bankman-Fried faced a significant legal blow on Thursday, March 28. Judge Lewis A. Kaplan sentenced him to 25 years behind bars for his involvement in a complex web of fraud and money laundering, resulting in the disappearance of $8 billion in customer funds.

Despite facing a potential maximum sentence of 110 years due to seven guilty verdicts, Bankman-Fried’s final sentence was significantly reduced. American journalist Charles V. Payne took to social media to express his dissatisfaction with Bankman-Fried’s sentence. He argued that it fell short of justice.

Responding to Payne’s post, the XRP attorney John Deaton echoed the sentiment, asserting that Bankman-Fried’s actions warranted a harsher punishment. Moreover, his statement shows that he agreed with the similar narrative posed by the Cardano Curation founder and other stakeholders in the industry.

Drawing from his extensive experience as both a criminal defense lawyer and a federal prosecutor, Deaton argued that Bankman-Fried’s sentence should have been doubled to 50 years. In addition, he emphasized the gravity of Bankman-Fried’s offense and the need for a more stringent deterrent against similar financial crimes in the future.

Also Read: FTX Lawsuit: Sam Bankman-Fried lied under oath at trial