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 Anthony Scaramucci, founder of SkyBridge Capital, has expressed skepticism about Sam Bankman-Fried’s chances in his ongoing criminal trial in U.S. courts; he suggested that Bankman-Fried is no match for the government prosecutors.&nbsp;
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Scaramucci voiced these concerns in an <a style="color: #0000ff;" href="https://www.cnbc.com/video/2023/10/25/sam-bankman-fried-has-no-way-to-escape-in-fraud-trial-says-skybridges-anthony-scaramucci.html" rel="noopener noreferrer nofollow">interview</a> with CNBC on October 25, 2023. He further argued that Bankman-Fried’s decision to take the stand could be a critical misstep because he believed prosecutors would skillfully pick apart his defense during the trial.
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 According to Scaramucci: 
 “He’s gonna get skinned alive; there’s no way to escape. He thinks he’s going to outfox the prosecutors, but they’re very, very well experienced with this stuff.”
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The outspoken hedge fund manager also noted a significant shift in Bankman-Fried’s public image due to the revelations before and during the ongoing trial. According to him, just a year ago, Bankman-Fried was perceived as an altruistic “congenial nerd” who would donate his substantial crypto wealth to charity, but the testimony from former FTX executives has painted a far more sinister portrait of international deception and <a style="color: #0000ff;" href="https://defi-planet.com/2023/09/ftx-debtors-sue-sam-bankman-frieds-parents-over-alleged-misappropriation-of-millions/" rel="noopener noreferrer nofollow">misappropriation of customer funds</a>.&nbsp;
Scaramucci also admitted that he deeply regrets embracing Bankman-Fried. He noted that he initially viewed him as a “smart guy with good intentions” before the fraud allegations came to light.
Scaramucci further commented: 
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 “He thought he was so smart that he would out-trade the market and put the money back up as a half-a-trillionaire, but it never works like that.”
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Notably, in January 2023, Anthony Scaramucci<a style="color: #0000ff;" href="https://twitter.com/ArjunKharpal/status/1613922200842833921?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1613922200842833921%7Ctwgr%5E47ba78f19ab813293de8412af22675a8f430bce0%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fus-lawmakers-discuss-digital-assets-new-speaker-house" rel="noopener noreferrer nofollow"> attempted to repurchase the 30% ownership stake</a> of his hedge fund he had sold to Bankman-Fried’s now-bankrupt company, FTX, in a September 2022 deal.&nbsp;
In a separate development, on October 17, FTX creditors and the exchange’s new management <a style="color: #0000ff;" href="https://defi-planet.com/2023/10/ftx-customers-may-recover-90-of-funds-by-mid-2024-in-settlement-deal/" rel="noopener noreferrer nofollow">announced a settlement deal</a> that could see customers of the bankrupted cryptocurrency exchanges FTX and FTX.US recover over 90% of their trapped assets. The agreement comprises a plan that could return almost all the now-bankrupt’s available funds, with a claim value of approximately $8.9 billion for FTX.com users and $166 Million for FTX US users.&nbsp;
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The post <a rel="noopener noreferrer nofollow" href="https://defi-planet.com/2023/10/skybridge-capital-founder-expresses-doubt-about-bankman-frieds-chances-in-ongoing-trial/">SkyBridge Capital Founder Expresses Doubt About Bankman-Fried’s Chances in Ongoing Trial</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://defi-planet.com">DeFi Planet</a>.

SkyBridge Capital Founder Expresses Doubt About Bankman-Fried’s Chances in Ongoing Trial

DeFi Planet

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