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01 Dec 2022

SBF was ‘delusional’ in interview, says Galaxy’s Mike Novogratz

Galaxy's CEO Mike Novogratz thinks Sam Bankman-Fried is "delusional" and will spend time in jail.

After watching the former FTX CEO's live interview with the New York Times on Wednesday, Novogratz alleged that Bankman-Fried is "just spewing more lies."

"It was delusional, let's be really clear," Novogratz told Andrew Ross Sorkin on CNBC. "Sam is delusional about what happened and his culpability in it."

Novogratz said that the ramifications of the FTX collapse would spread beyond crypto to all markets in general. He also said he didn't think that Bankman-Fried had acted alone.   

"You don't pull this off with one person," he said. "I'm not saying he even planned this all like a criminal mastermind. What they did was criminal and they need to be prosecuted for it."

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