Skip to content Skip to sidebar Skip to footer

Source: A video screenshot, The Rich Dad Channel / YouTube

Rather than Warren Buffet, FTX founder Sam Bankman-Fried (SBF) is the Bernie Madoff of crypto, said Robert Kiyosaki, investor, entrepreneur and best-selling author of rich dad, poor dad. He also argued that Bitcoin (BTC) is not a problem – in this situation or in any other situation.

In a tweet on Wednesday, Kiyosaki addressed the collapse of crypto exchange FTX and mentioned Bankman-Fried’s donations to political parties in the United States. He focused on businessmen and television personalities. Kevin O’Leary and Jim Kramer’s comparison between the former CEO of FTX and warren buffet – a famous American businessman, crypto investor and critic.

Rather than Buffet, Kiyosaki argued,

“SBF is more like Bernie Madoff from Crypto.

Bernie Madoff was an infamous American financier who executed the biggest Ponzi scheme in history: for at least 17 years, he defrauded thousands of investors out of some $65 billion. He was also president of the Nasdaq stock market in the early 1990s. Madoff died in prison while serving a 150-year sentence for money laundering, securities fraud and other crimes.

And Kiyosaki wasn’t the only one to notice similarities between these two. Sheila Bair, a key regulator during the 2008 financial crisis, who presided over the United States Federal Deposit Insurance Corporation. from 2006 to 2011, Told CNN that there are “uncanny similarities” between SBF and his FTX on the one hand, and Madoff and his Ponzi on the other.

Bair argued that,

“Charming regulators and investors can distract [them] to dig in and see what’s really going on. It sounded a lot like Bernie Madoff that way.”

Bitcoin is not the problem here

Kiyosaki, who backed Donald Trump for the 2016 presidential election and continues to back him, co-authored two books with Trump, and is an election denier, put FTX in the same “problematic” group with the US president. Joe Biden and “Marxist Educators.”

On the other side, in front of these “big problems” as he called them, he put bitcoin, gold, silver, police and veterans.

“BITCOIN is not the problem,” he wrote.

However, some criticized Kiyosaki’s statements — not because he was criticizing FTX or supporting BTC, but because he was dragging politics and a variety of unrelated issues into it.

In his last tweet, up to the time of writing, Kiyosaki again mentioned FTX in relation to US politics.

SBF was involved in the country’s politics: it make a donation to both parties in the United States, and he was a top contributor to the Democratic campaign in the 2022 election cycle.

As reported, on November 11, Bankman-Fried resigned and the exchange filed for bankruptcy. Additionally, FTX is under investigation by, among othersthe US Department of Justicethe Security and Exchange Commissionand the Commodity Futures Trading Commission.

Meanwhile, just a week ago, Kiyosaki said he would view a significant drop in the price of BTC as an opportunity – not something to worry about.

As of 10:00 UTC Friday morning, BTC was trading at $16,752, up 1.3% in one day and down almost 5% in one week. Overall, it’s down 13% in one month and 72% in one year.


Learn more:
Rich Dad Poor Dad Author Robert Kiyosaki Says BTC Will Bottom At This Price, Not Worried About Crash
Robert Kiyosaki on Bitcoin and Crypto Crash

FTX Latest – Crypto Prices Stable as New CEO Condemns ‘Complete Failure’ Here’s the shocking mismanagement laid bare
US House Committee to Hold Hearing on FTX Collapse – Incoming Settlement?

Source link


Leave a comment