Rich Dad Poor Dad Robert Kiyosaki Calls FTX Founder ‘Bernie Madoff of Crypto’, Says ‘Bitcoin is Not the Problem’
Rather than Warren Buffet, FTX founder Sam Bankman-Fried (SBF) is the Bernie Madoff of crypto, said Robert Kiyosaki, investor, entrepreneur, and the best-selling author of Rich Dad Poor Dad. He also argued that bitcoin (BTC) is not an issue - in this or any other situation.
In a tweet on Wednesday, Kiyosaki touched upon the collapsed crypto exchange FTX and mentioned Bankman-Fried's donations to political parties in the US. He turned his focus to businessmen and television personalities Kevin O’Leary's and Jim Kramer's comparison of the former FTX CEO to Warren Buffet - a famous American businessman, investor, and crypto critic.
Rather than Buffet, argued Kiyosaki,
"SBF more like Bernie Madoff of Crypto.
Bernie Madoff was an infamous American financier who executed the largest Ponzi scheme in history: over at least 17 years, he defrauded thousands of investors out of some $65 billion. He was also chair of the Nasdaq stock exchange in the early 1990s. Madoff died in prison while serving a 150-year sentence for money laundering, securities fraud, and other felonies.
And Kiyosaki wasn't the only one to note similarities between these two. Sheila Bair, a top regulator during the 2008 financial crisis, who chaired the US Federal Deposit Insurance Corp. from 2006 to 2011, told CNN that there are "eerie similarities" between SBF and his FTX on the one hand, and Madoff and his Ponzi on the other.
Bair argued that,
"Charming regulators and investors can distract [them] from digging in and seeing what’s really going on. It felt very Bernie Madoff-like in that way."
Kiyosaki, who endorsed Donald Trump for the 2016 presidential elections and continues to support him, who co-authored two books with Trump, and who is an election denier, put
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