John Deaton, a prominent attorney for XRP holders and a vocal advocate in the crypto community, has unleashed a torrent of criticism against supporters of Sam Bankman-Fried, the former CEO of FTX. Deaton took to his official X platform to express his disdain for those who view Bankman-Fried as a well-intentioned individual who merely made “errors.” According to Deaton, such individuals are unfit to manage other people’s finances. Moreover, he stated they should not be considered for interviews with high-profile media outlets like 60 Minutes.
The crypto community divided Over SBF’s actions
The crypto community finds itself at a crossroads. On one hand, there are those who are deeply concerned about the alleged investor fraud charges against Bankman-Fried. On the other hand, some are attempting to portray him in a positive light. Despite FTX filing for bankruptcy and evidence suggesting that as much as $8 billion may have been misappropriated, Bankman-Fried continues to participate in interviews. He is often depicted as a crypto hero, a portrayal that has sparked considerable backlash from the Web 3.0 community.
Deaton’s criticism extends beyond Bankman-Fried to include his parents, Joseph Bankman and Barbara Fried, both Stanford University law professors. Deaton is adamant that they share full responsibility for their son’s actions. This viewpoint is shared by many in the industry. Additionally, Deaton’s criticism seems to have had an impact. Stanford University, a recipient of Bankman-Fried’s donations, has decided to return a $5.5 million contribution that was earmarked for COVID-19 research.
Under the leadership of John Ray III, FTX has managed to recover over $7 billion. However, Deaton and others in the crypto community are calling for Bankman-Fried’s sentencing to serve as a deterrent for other industry innovators. Despite the legal case that FTX’s current leadership is pursuing against Bankman-Fried and his parents, no regulatory agency has yet initiated legal action against them.
