Michael Saylor: Sam Bankman-Fried is a Shitkoiner

Michael Saylor, former CEO of MicroStrategy, has lashed out on entrepreneur Patrick Beta-David’s podcast at FTX founder Sam Bankman-Fried. He has said:

“There is something ethically wrong about issuing your own unregistered securities. Sam and most people in the crypto world have always been guilty of the sin of being a shitcoiner.”

According to him, the founder of FTX is the best example of this practice. The former head of MicroStrategy has noted that the “devilish turn” in the history of the exchange was that Bankman-Fried made billions on tokens that he “printed out of thin air” and issued loans to himself from clients’ funds.

Saylor has added:

“The problem with the crypto industry is greed, arrogance and stupidity. Venture investors have invested $2 billion in an offshore exchange. To be clear, the platform was unethical and illegal from the start.”