Jordan Belfort is a former American stockbroker. He is considered the most famous scammer in the US stock market. In 1989, he founded the brokerage firm Stratton Oakmont. Small cap stocks are selling over the phone at rock bottom prices with questionable growth prospects. The businessman gets rich, despite the very high stakes. His empire will collapse after a few years and he will be sentenced to prison. His story inspired the movie “The Wolf of Wall Street”, in which Leonardo DiCaprio played the main role. Today, Jordan Belfort is still trying to pay off his more than $100 million debt. He recently talked about the FTX encryption scandal.
Jordan Belfort criticizes Sam Bankman Fried
On Saturday, Jordan Belfort, the “Wolf of Wall Street,” slammed Sam Bankman-Fried for his management of cryptocurrency exchange FTX. was through an interview On Wall Street is Maria Bartiromo, a weekly program on the Fox Business Network that features economic news. According to the previous broker, FTX is nothing but a real crypto exchange.
For him, Sam Bankman-Fried was a bad manager because he was betting on incredible derivatives deals. Therefore, resorting to FTX debt, it was only expected to lead to a similar situation, he said. Explain.
“It’s not an exchange. It’s like a brokerage firm or a bank that holds clients’ money and withdraws it. Sam Bankman-Fried used it as a personal piggy bank. People deposited their money into FTX because they wanted to trade, just like any brokerage. It would be like going to JPMorgan Chase, depositing Your money is in your Chase bank account, and then you find out that the CEO, Jamie Dimon, took your money personally and went to Las Vegas and gambled on the weekends. So your money is his money. What’s the difference?”does he have comment.
Jordan Belfort, once a skeptic of cryptocurrency, recently said he had changed his mind. For him, Bitcoin (BTC) is a powerful cryptocurrency, with a great future. Last June, during a an interview With Yahoo Finance, he said: “Before, I really hated cryptocurrency. I stand by everything you said about cryptocurrency in 2017 except for one thing. I was wrong about bitcoin going to zero.”.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only fueled my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.