The Wolf of Wall Street’s star Jordan Belfort with a Fox news anchor discussed the reasons why FTX ran it’s business the way it did. Jordan said;
The misconception here about FTX is that people are referring it to as an exchange, but it’s not an exchange but more like a brokage firm or a bank that was holding customers money and they basically syphoning it off to somewhere else.
He was basically using customers money like his piggy bank to do as they well wished.
When asked if the investors will ever get their money back, Jordan said He didn’t think any of them will ever get much of what they invested that is if they got thier money back at all.
Jordan further said that FTX was just created by Sam Bankman Fried to fund his real company Alameda.
There is also a class action law suit that targets celebrities who helped promote FTX but Jordan replied by saying they are not to be blamed and they would never had known FTX would go down the way it did.