Arthur Hayes Accuses SBF of Misleading the Public
- Arthur Hayes has voiced his opinion about Sam Bankman-Fried’s (SBF) deceptive behavior.
- Hayes claims that SBF’s victims were attracted to the things they thought they knew about him.
- At first glance, SBF seemed to be capable of achieving success.
BitMex creator, Arthur Hayes, has expressed his opinion about Sam Bankman-Fried’s (SBF) alleged deceptive behavior. During a YouTube interview with “The Chopping Block”, Hayes suggested that many of SBF’s victims were attracted to him based on the false information they believed to be true.
also on youtube here: https://t.co/DnOSTMP9B2
— Laura Shin (@laurashin) March 11, 2023
Hayes suggested that a cursory look at SBF’s CV would lead one to assume he was the kind of person who could deliver. Moreover, Hayes noted that SBF was welcomed by the establishment despite not having any experience running businesses.
Hayes argued that SBF was able to craft a narrative that made people think he was an experienced trader, and the public believed this without doing any research. Hayes noted that SBF’s impressive educational background, his experience working at Jane Street, and the fact that his parents are professors all contributed to his popularity.
It’s a testament to humanity and our tendency to take things at face value; everybody read the headline and assumed that he was a credible figure because he had gone to the right schools and had a successful background in the Chicago trading world. His California roots and his parents being professors further solidified the public’s belief.
According to Hayes, SBF utilized this narrative to cater to a specific segment of the population who was easily swayed. He added that SBF was embraced by the establishment, since they were looking for someone who could help them take over the crypto industry.
On the other hand, many members of the crypto industry supported SBF, as they saw him as a connection to the mainstream. Unfortunately, SBF’s crypto exchange, FTX, collapsed in late 2022, resulting in billions of dollars in customers’ funds being lost.
SBF is currently under house arrest at his parents’ home, as the industry awaits the verdict of an ongoing investigation.
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