- Peter Schiff accused CNBC of biased coverage and using Sam Bankman-Fried’s conviction to pump Bitcoin’s price.
- Schiff criticized CNBC for elevating Bankman-Fried without scrutiny.
- Schiff claimed CNBC was partially to blame for the losses FTX’s investors suffered.
Chief Economist and Global Strategist of Euro Pacific Capital Peter Schiff accused CNBC of biased coverage that helped enable Sam Bankman-Fried’s FTX scam. He argued that the network shares responsibility for investor losses.
It's shameful how @CNBC used the #SBF conviction to further pump #Bitcoin. CNBC lifted SBF up on a pedestal and bought into his scam hook, line, and sinker. In fact, CNBC shares blame for losses suffered by investors who opened accounts with #FTX based on their biased coverage.— Peter Schiff (@PeterSchiff) November 3, 2023
Schiff slammed CNBC for putting SBF “on a pedestal” and failing to scrutinize FTX’s operations. In his post, Schiff said that CNBC bought into his scam hook, line, and sinker. Schiff argued that CNBC should be held accountable for their biased promotion that led to FTX customers’ losses.
Moreover, Schiff asserted regulators and politicians were als…
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