Charlie Munger Blasts Crypto as ‘Partly Fraud and Partly Delusion’ After FTX Meltdown

Berkshire Hathaway Vice Chairman Charlie Munger attends the 2019 annual shareholders meeting in Omaha, Neb., on May 3, 2019. Johannes EiseleI/AFP via Getty Images

Charlie Munger, vice chairman of Berkshire Hathaway, has issued scathing comments on the crypto industry after one of the globally leading exchanges FTX collapsed last week.

“It’s partly fraud and partly delusion,” Munger said on CNBC Tuesday. “That’s a bad combination. I don’t like either fraud or delusion. And the delusion may be more extreme than the fraud.”