Smoking Hot Story...Democrat Billionaire Crypto Player Sam Bankman-Fried Believed To Have Stiffed Investors of Billions
That's not the worst of it, this guy controlled Committees in Congress that Regulate The Crypto Industry. He was a darling and rising star of the Democratic Party!
I’m always ranting and raving about how we need to get special interest money out of politics but this hugely breaking story is just another story that screams why we need SEPARATION OF GOVERNMENT AND BUSINESS. Sam Bankman-Fried is a 30 year old Crypto king and big Democrat operative who stands accused of fleecing his investors of billions. I’m going to start this breaking scandal. which has a lot of moving parts, with a Daily Caller investigation.
Dem Megadonor Under Federal Investigation Bankrolled Lawmakers Overseeing The Agency He Was Lobbying
Cryptocurrency CEO and Democratic donor Sam Bankman-Fried funded the campaigns of key lawmakers overseeing the Commodity Futures Trading Commission (CFTC), the agency tasked with regulating the crypto industry, as he was lobbying the CFTC for greater oversight over the digital asset marketplace.
Bankman-Fried donated to the chair and ranking member of the Senate Agriculture Committee, the committee that has jurisdiction over the CFTC, as well as numerous other members of Congress involved in CFTC oversight.
The FTX CEO also spent hundreds of thousands of dollars lobbying lawmakers and the CFTC on legislation that would expand the scope of the agency’s role in regulating the crypto industry.
Sam Bankman-Fried, prolific Democratic donor and ex-CEO of now-bankrupt cryptocurrency exchange FTX, funded the campaigns of members of Congress overseeing the Commodity Futures Trading Commission (CFTC), one of the key bodies tasked with regulating the crypto industry and the subject of Bankman-Fried’s aggressive lobbying.
Bankman-Fried’s FTX is currently under investigation by the CFTC and the Securities and Exchange Commission (SEC) after Bankman-Fried allegedly moved $10 billion in client assets from his crypto exchange to his trading firm Alameda Research, and a liquidity crisis at his exchange which prompted the company to file for bankruptcy. However, prior to the agency’s probe, Bankman-Fried aggressively courted the CFTC – and funded several key lawmakers charged with overseeing the agency, pouring cash into their campaign coffers.
Yeah, it’s documented by Daily Caller that Bankman-Fried literally bought himself some political protection by virtue of the fact that he bought himself a chunk of power in DC and Congress (at least $40 million dollars worth, discussed later in this post).
Fortune took a dive into figuring out what FTX was all about and it’s very unflattering, really scary. Basically the company is run by a gang of no nothing 20 somethings who were smart and arrogant enough to get the attention of big names like Bill Clinton and many high ranking operatives in Congress and the Democratic Party.
“Shocking” is a word that aptly describes the rapid fall of Sam Bankman-Fried’s cryptocurrency empire. To a surprising degree, it’s a sentiment that pours out from people who worked for him, people who you’d think would’ve had a clue.
How can that be? It may have something to do with a luxury penthouse in the Bahamas. That’s where 30-year-old Bankman-Fried is roommates with the inner circle who ran his now-struggling crypto exchange FTX and trading giant Alameda Research.
Many are former co-workers from quantitative trading firm Jane Street, others he met at the Massachusetts Institute of Technology, his alma mater. All 10 are, or used to be, paired up in romantic relationships with each other. That includes Alameda CEO Caroline Ellison, whose firm played a central role in the company’s collapse – and who, at times, has dated Bankman-Fried, according to people familiar with the matter.
CoinDesk spoke to several current and former FTX and Alameda employees who agreed to talk on the condition of anonymity, citing ongoing harassment and death threats due to the exchange’s solvency issues. And they said essentially this: It’s a place full of conflicts of interest, nepotism and lack of oversight.
“The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on the condition of anonymity.
LOL, the story gets even more intriguing when Elon Musk said that Bankman-Fried wanted in on his $44 billion Twitter deal. Apparently, Musk smelled a rat when a guy Musk never heard of offered to finance the Twitter deal by coughing up billions.
Elon Musk says FTX founder Sam Bankman-Fried set his 'bulls**t meter' off when he tried to join $44b Twitter purchase and shares crude meme about failed mogul - as $2b of clients' money vanishes
This is HILARIOUS.
While it’s generally being reported that up to $2 billion is ‘missing’, it’s also speculated that maybe another $10 billion vanished when it got moved to another company controlled by Bankman-Fried’s girlfriend.
$2BN of clients' money is MISSING from collapsed crypto exchange FTX: Founder Sam Bankman-Fried denies secretly transferring $10BN to trading company run by his girlfriend
It’s does appear that there is massive fraud in the $2 billion to upwards of $12 billion range and I’m wondering if the government will now seek to regulate the crypto markets (well, it already does) with tougher regulations because Treasury Secretary Janet Yellen has now stepped into the steamy pile of crypto crap. We know that that her call for more crypto regulation is creepy cryptic messaging because crazy lying Janet Yellen, you know the same Janet who pronounced that inflation was ‘transitory’, is suddenly VERY concerned.
LOL and yawn, we all now know that Bankman-Fried has invested at least $40 million in Democrats and their seedy version of klepto now Crypto democracy in a political system that is pure PAY TO PLAY on steroids. Yellen is all about protecting Democrats and their mountains of corporatist cash. Yes, $40 million buys a lot of access to the big power players in the District of Crime aka DC.
HERE WE GO: Janet Yellen Calls For Crypto to be Regulated After Biden Mega-Donor Collapses Multi-Billion Dollar Crypto Ponzi Scheme
Treasury Secretary Janet Yellen called for crypto to be regulated after Sam Bankman-Fried, a 30-year-old Democrat darling, spent more than $40 million to ‘pay off’ DC elites to turn a blind eye to his Ponzi scheme through the crypto exchange he founded (FTX).
As TGP’s Joe Hoft reported, the FTX crypto company gave at least $40 million to Democrat candidates and causes in the midterms.
Up to $2 billion is ‘missing’ after FTX collapsed this week.
The company filed for bankruptcy on Friday and Sam Bankman-Fried’s private jet was seen en route to Argentina.
Don’t cry for me Argentina!! WOW, who the hell gave the order allowing Bankman-Fried to get the hell out of town?
The plot continues to thicken as it’s now alleged that tens of billions were transferred to Ukraine using FTX and that money managed to get laundered back to Democrats in the US.
Did you ever wonder where all those billions of dollars were going in Ukraine? Did you ever wonder why anyone was trusting the elites in US politics like the Bidens with billions in funds going to Ukraine?
Today it turns out that these were excellent questions.
How can this not warrant a serious investigation? No wonder the Dems got Bankman-Fried out of the country quickly. Moreover, you gotta wonder how much US aid got tangled in FTS and ended up in Biden Crime Family pockets, as well as the pockets of Congress Critters and powerful Democrats.
Stay tuned. This story is breaking everywhere and the Democrats are determined to protect one of their own. Gotta keep the spigot of special interest money flowing because that is the mothers milk of our bought and paid for fake, corporatist, fascist democracy.
The FTX, in my opinion, was not just lalundering money for the Biden family...remember when Nancy P and her ilk visited the Ukraine back in spring 2022? She visited in order to get her cut since she was heading the pocket book of the U.S. Schummer, Shrader, and another pervert went with her, aned bet they are not the only ones getting laundered money from Ukraine. The Clintons have always found a way to get in on the dole as they have been working the Ukraine since Bills hey day with the Clinton Foundation and Clinton Global Initiative, Clinton Health Initiative...all crooked as hell and the Ukraine has been a cesspool like D.C. since the end of WWII.
Also, the Senate is the body that issue subpoena and this is the primary reason the Criminal Dems were interested in taking the Senate. Bicen, Hunter, DOJ, Fauci will never be investigated...so pray the LORD rains down justice on all these criminals. The Congress/bureacy/bankers/alphabet soup agencies used to be corrupt, but now they are criminal - run by the filth of the world.