Reported by: Steve Mollman

FTX founder Sam Bankman-Fried should be in custody by now, as far as Brian Armstrong is concerned. The CoinbaseCEO said this week it’s “baffling to me why he’s not in custody already.”

“The DOJ or somebody should be able to make—just based on his public statements, I think there’s a very open and shut case for fraud,” Armstrong saidat the a16z crypto Founder Summit on Tuesday. He added, “I’m not an expert on this, but the people I talk to seem to agree on that.”

Armstrong also questioned why the media has refrained from calling Bankman-Fried a criminal.

“I think we were all pretty shocked to see the scope of the fraud that happened at FTX. And let’s call it a fraud. We have to call it what it actually is. It’s been pretty bizarre that mainstream media hasn’t really come out and said, ‘This guy’s a criminal.’ Maybe they want to wait until he’s actually indicted or something like that, and in custody. But it seems very clear at this point that that’s the case.”

Read full report: https://www.yahoo.com/finance/news/coinbase-ceo-brian-armstrong-says-231208022.html