Robert Kiyosaki’s Tax on FTX Fiasco

Robert Kiyosaki, who authored an award-winning book called ‘Rich Dad Poor Dad’, shared his viewpoint on Bitcoin, FTX, and FTX’s CEO.

Currently, FTX is undergoing the process of bankruptcy while the crypto exchange’s CEO, Sam Bankman-Fried (SBF) has resigned from the position of CEO.

Rich Dad Poor Dad was once the best-selling book published in 1997 and held that record for over six years.

To date, over 32 million copies of Kiyosaki’s Rich Dad Poor Dad have been sold. On the other hand, the book has been published in more than 51 languages so far.

Recently, the FTX collapse did not skip the globally famed author of Rich Dad Poor Dad. Regarding the FTX collapse, Kiyosaki opined that there was nothing wrong with Bitcoin nor it caused inflation to rise.

Nothing Wrong With Bitcoin

He suggested it would be wrong to blame Bitcoin for FTX’s collapse because it occurred from within FTX.

He added that the problem actually lies with political leaders, bureaucrats, institutions, and businesses like FTX which took serious matters for granted.

FTX had several issues which were primarily regulatory compliance and enforcement concerns. Prior to being investigated by a number of top oversight authorities in the US, FTX was undergoing investigation in various countries.

Similarities between SBF and Bernie Madoff

In his tweet, Kiyosaki compared FTX’s CEO SBF with the founder of a notorious Ponzi scheme called ‘Silicon Valley’. He suggested that SBF is very much the same as Bernie Madoff who brought havoc upon genuine investors.

It is said that the fake investment scheme launched by Madoff was the biggest Ponzi scheme the world had ever seen. Reportedly, victims of that scheme lost more than $64 Billion.

However, the main culprit i.e. Madoff was arrested and brought before the trial where he received 150 years of Federal imprisonment. He spent his last days in prison and died as such at the age of 82.

Further about SBF, he refuted notable individuals such as Jim Kramer and Shark Tank’s Kevin O’Leary who were very fond of SBF.

Shared Viewpoint of Others Regarding SBF

Presently, there are more people like Kiyosaki who agree with what has been suggested by Kiyosaki regarding SBF.

Ex-Chairman of Federal Deposit Insurance Corporation, Sheila Bair, also took note of similar circumstances prevailing in the situation of FTX and Silicon Valley.

Changpeng Zhao of Binance also noticed similarities between FTX’s fall and the 2008 crisis.

However it seems that people like Kevin O’Leary are not really concerned with FTX’s fiasco.

O’Leary recently remarked that if SBF would ask him for financial support then he would definitely help him.

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