Michael Lewis Under Fire for Controversial FTX Comments

Michael Lewis, a renowned American author and financial correspondent, has received severe criticism from the cryptocurrency community in response to his remarks about the defunct FTX exchange.

Lewis stated in a recent interview that FTX had a firm and viable business foundation. If no one had questioned FTX’s business practices and caused a run on customer deposits, the exchange would still be generating substantial profits, in his opinion.

Notable X user Sean Tuffy shared a fragment of the interview with the crypto community, expressing surprise at Lewis’ remark.

As anticipated, members of the crypto community reacted strongly to the statement made by the American author, whom they deemed to be illogical.

The founder of CryptoLaw.us, John Deaton, responded by labeling Lewis a clown.

Deaton referred to Lewis as a fool for criticizing Binance CEO Changpeng Zhao (CZ) for raising the alarm about the FTX situation.

The attorney stated that Lewis’ attribution of FTX’s difficulties to the whistleblower instead of the exchange’s fraudulent actions is a flagrant misrepresentation.

In addition, a commenter identified as Anderson speculated that certain members of the United States Congress may be dissatisfied with Zhao’s discovery of FTX because he disrupted their lucrative agreement with FTX’s founder, Sam Bankman-Fried (SBF).

“US Congress members are furious with CZ for destroying their cash cow, SBF. Anderson remarked, “Had he not spoken up, perhaps the Ponzi scheme could have persisted for a few more months.”

In addition, some commentators argued that Michael Lewis appears to have received substantial payments from FTX to promote the exchange despite the mess the platform had created.

Micah, an X user, remarked, “Tell me you got money from FTX without saying you got money from FTX.”