The FTX fallout is the top story of all news outlets across the world. Sam Bankman-Fried going from ‘the future Warren Buffet’ & billionaire to not even a billionaire in 1 day is astonishing. He lost 94% of his wealth according to one report. But now, it’s not the headlines, it’s what in between the lines. And CNN is asking if the FTX crypto-exchange case may be criminal.
On the show Business NightCap, Jon Sarlin brought on senior editor Allison Morrow to discuss the FTX case. And within a few minutes a powerful question was asked.
“We’re now seeing reports that personally and repetitively, [Sam Bankman-Fried] transferred funds from FTX into [accounts of] Alameda, his trading firm,” states CNN host Jon Sarlin.
He then gets to the question everyone wants to know. And with a smile, while Morrow laughs as well, he continues with the million-dollar question on everyone’s mind.
“Is that mismanagement… or are we looking at a potential criminal case?”
The CNN Hosts’ Facial Expressions
The two CNN hosts’ facial expressions say it all. Yet, they keep their composure and continue the discussion without creating legal issues — but again, their expression say it all
Morrow responds, “Yeah, mismanagement absolutely. I don’t think you need to be an expert or have a law degree to say that. Criminal, that’s above my pay grade.”
She dodges a potential lash back from Bankman-Fried’s lawyers with that response but something’s going on. The senior editor continues by elaborating on Federal investigations currently underway, which would indicate there’s major belief in wrongdoings by the FTX founder and former billionaire.
She continues, “The [US] Justice Department is investigating it. We’ve seen reports on that but they are not commenting publicly. The SEC is also investigating.”
Watch the full video above to hear what the news team had to say.