Galaxy Digital CEO Mike Novogratz called FTX founder Sam Bankman-Fried “delusional.”

At a recent interview with CNBC, Galaxy Digital CEO Mike Novogratz said that former FTX CEO Sam Bankman-Fried should be locked up in jail.

“It was delusional. Let’s be really clear. Sam was delusional about what happened and his culpability in it,” says @novogratz. “He needs to be prosecuted. He will spend time in jail. And it wasn’t just Sam. You don’t pull this off with one person.” pic.twitter.com/0SSh1r8XIL

– Squawk Box (@SquawkCNBC) December 1, 2022

Mike Novogratz states that Bankman-Fried is “delusional” about the whole debacle and his guilt in it. “We can all be junk psychiatrists, can’t we? There’s a lot of narcissism in there. There’s a lot of grandiosity… He needs to be prosecuted. He’ll spend time in jail“, said the cryptocurrency mogul.

The FTX co-founder spoke out about his company’s headline-grabbing collapse in a lengthy interview with financial journalist Andrew Ross Sorkin at the DealBook Summit event on Wednesday.

During the hour-long live interview, Sam Bankman-Fried denied knowingly sending his company’s funds overseas. FTX customers to the trading company Alameda. He stated that he was not aware of Alameda’s actions, claiming that he was not aware of the entire situation.

Sorkin also addressed the elephant in the room, asking Sam Bankman-Fried whether or not he was concerned about going to jail. The FTX co-founder doesn’t think he has any personal criminal liability, adding that he is currently focused on other things.

While addressing his infamous November 7 tweet, in which he stated that FTX would “well“, Sam Bankman-Fried stated that he expected things to “end well”.

Bitcoin isn’t going away

Despite the severe crypto crisis, Novogratz remains optimistic about the future of crypto. The crypto mogul sees the current crypto winter as an “opportunity for growth.”

“As painful as this is for our industry, I do think in the long run this is an opportunity for growth,” says @novogratz on #crypto. “I don’t think #Bitcoin is going away. It would be higher if it were not for @SBF_FTX. Fidelity is not backing away. They are doubling down.” pic.twitter.com/jKqxluIUKU

– Squawk Box (@SquawkCNBC) December 1, 2022