Skip to content

Joe Rogan says FTX ‘funneled off like $10 billion’ while duping customers

Joe Rogan says FTX ‘funneled off like $10 billion’ while duping customers

American podcast host Joe Rogan has once again hit out at former FTX CEO Sam Bankman-Fried (SBF), questioning his ability to run the now-collapsed cryptocurrency exchange

Rogan stated SBF duped most investors in the exchange, insinuating that the exchange founder was not serious about running the company during an episode of the Joe Rogan Experience podcast on November 29. 

The commentator appeared to agree with the notion that SBF had a backdoor in FTX where he siphoned money from the exchange leading to a loss of over $10 billion. 

“They funneled off like $10 billion into that ’cause the whole thing is so wild. They were just on speed playing with fake money,” he said. 

However, as reported by Finbold in his first-ever audio interview, SBF maintained that he had no backdoor to the system. He stressed his interaction with the FTX exchange was on a user interface basis. 

Rogan on SBF duping investors 

Rogan further argued that SBF potentially duped all his coins and lacked the means of covering them, resulting in losses. 

“If that guy didn’t go to war with that other guy – that’s what happened, right? That dude [Changpeng Zhao] dumped all of his coins, he sold all of his coins, and he really couldn’t cover it… That was his like rival,” he added. 

Rogan, a UFC commentator, also shared his views on alleged substance abuse by SBF during the podcast, where he invited comedian Kurt Metzger. According to Rogan, mixing drugs and work is not a recipe for success.  

He also questioned SBF’s state to manage such an amount of money while referencing an online post titled ‘Crypto’s biggest crash saw a guy playing League of Legends while luring investors.’

“So he was playing this [expletive] game while talking to the investors,” he said. 

SBF denies wrongdoing

It is worth noting that since FTX’s collapse, SBF has issued several interviews attempting to clarify the situation while an $11 billion class action hangs on his head. 

As reported by Finbold, Rogan had earlier termed the FTX situation ‘weird,’ with SBF facing a series of allegations regarding possible wrongdoing. 

However, Bankman-Fried maintained that the collapse emerged due to what he termed ‘massive correlation of things during a free market moves.’

Watch the full interview below:

Best for:

Intermediate Traders and Investors

2.8 Million Active Accounts
Finbold is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

Read Next:

Weekly Finance Digest

Related posts

AD