Charles Hoskinson has drawn a comparison between former #FTX #CEO Sam #Bankman-Fried (SBF) and Bernard Madoff, the creator of the largest Ponzi scheme in history, valued at $64.8 billion. The founder of #Cardano, #Hoskinson, made these remarks in response to the content of Michael Lewis's book, "Going Infinite," which delves into the collapse of the FTX cryptocurrency exchange.

Hoskinson also accused the media of granting SBF "freedom of action." In his view, the attention lavished on SBF, despite evidence of unlawful appropriation of funds, illustrates how corrupt the entire system has become. He added, particularly if "you have the right friends."

"It seems like there's a group within the elite trying to secure public exoneration for SBF. We've seen this in The New York Times article, and now in a book that essentially serves as an apology tour," Hoskinson explained.

During the hearings on the seven criminal charges filed against Bankman-Fried, it was revealed that he spent the last million dollars on image-building through aggressive PR spending. Previously, it was reported that US authorities had confiscated two aircraft owned by SBF.

Recall that in September, lawyers assessed Bankman-Fried's chances in court. They analyzed the charges brought against him and calculated the potential sentence for the accused.