- Charles Hoskinson calls out Sam Bankman-Fried for creating difficulties in fabricating proper crypto legislation in 2023.
- SBF’s collapsed crypto exchange FTX spent nearly $40 million on hotels and food in the last 9 months.
- Foodbar tweeted that FTC is paying liquidators $1.300 an hour to move sushi tokens.
On January 8, Cardano founder Charles Hoskinson tweeted a video snippet from the video game Diablo 2, comparing the current Web3 market with the character Marius “being told to shatter a Soulstone in Hell,” due to Sam Bankman-Fried.
Hoskinson remarked that it has become extremely challenging for the crypto industry to prepare a 2023 game plan that drives regulators and lawmakers to pass sensible crypto and blockchain legislation.
According to documents submitted to the Delaware bankruptcy court, the bankrupt crypto exchange FTX’s Bahama branch spent almost $40 million in hotels, food, and flights in the span of nine months.
$15.4 million was spent on luxury hotels and accommodations from January to September 2022, while almost $5.8 million went towards Sam Bankman-Fried’s stay at the Albany Hotel, where per night costs can go as high as $60,000. Moreover, $6.9 million was entitled to “meals and entertainment” as per filings reviewed by Insider.
DeFi and NFT founder and developer, Foobar, recently tweeted that the FTX bankruptcy estate is paying liquidators $1,300 per hour just to spend “$2.99 on gas to move $0.02 worth of sushi tokens into a multisig.” The Twitter account simultaneously attached a screenshot of the total of 398 tokens that were moved.
On the other hand, The Wall Street Journal reported that FTX’s newly appointed management is trying to retrieve the million dollars-worth donations made by the exchange and its former CEO.
FTX’s charity vertical, Future Fund, deployed over $160 million to more than 110 non-profits across the world to help advance research in the fields of biotech, climate change, Covid-19, and more. Initially, the charity arm had tweeted that it wished to commit up to $1 billion to NGOs globally.