The founder of investment firm Muddy Waters also called crypto an 'asset that barely has any value.'
Block told CNBC's "The Exchange" he had seen the business trajectory of the"[Bankman-Fried] went from zero to, I'm worth 20 billion dollars, I'm putting our logo on major league baseball umpire uniforms and on the Miami Heat area. It seems like really trying hard to establish yourself as a household name."
without their knowledge and contributed to FTX's bankruptcy. Block said a September 2021 article found Alameda's assets were substantially in the cryptocurrency solana, which at the time was plunging in value, raising questions about its debt and source of funds. Block is a crypto sceptic who described the recent surge into the industry as a bubble based on a "suspension of disbelief."
Block gained prominence for alleging and exposing instances of fraudulent accounting in U.S.-listed Chinese companies.he and other investors and hedge funds were being probed by the U.S. Justice Department as part of an investigation into short selling.
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