FTX scam - Biden's Biggest Donor

[Lexew1899]

The biggest scandal to ever hit crypto currency was revealed this week at the trading platform FTX. FTX was run by Sam Bankman-Fried, Joe Biden's second biggest donor of the 2020 campaign cycle, and one of the largest donors in the 2022 midterms. The con artist was notorious for calling for increased regulation of crypto, while he simultaneously gambled users' funds away, and embezzled money into his personal accounts. His house of candy floss came crumbling down when proof of funds was questioned, leading CZ of Binance to announce they would pull all FTT funds away from FTX. A bank run on FTX ensued, and it was discovered the company held as little as 500 million, of the reported 10 billion, of user funds. Questions have been asked about where the other billions going, with some pointing to FTX announcing they would be sending Bitcoin to the Ukraine war effort. Perhaps the biggest embezzlement scam in the last century.

https://www.vox.com/the-goods/23451761/ ... in-alameda

[Lexew1899]

SBF is the lovechild of some very well-connected university professors, at some godforsaken school. His family has ties of course to the WEF, and the Obamas. The obese hobbit, SBF, funded a propaganda video to build up his credibility. Although it looks fake, this guy really was this full of himself. Scary that anybody invested even a cent into this idiot's company.

[Lexew1899]

FTX helped move user funds to other corporate entities owned by SBF, including Alameda Research, run by his 20-something-year-old girlfriend. An ivy league graduate with a degree in mathematics. Although she claims she doesn't use very much math to make trades, and loses lots of money. Not her money, by the way, users' funds.

[Lexew1899]

Caroline Ellison's father, a university professor at MIT, was also the boss and mentor of SEC Chair Gary Gensler. I suppose SBF was making sure he had friends in high places, including the Big Guy.

[endlessQuestions]

“The biggest scandal to ever hit crypto currency”

Way bigger than that. Eyes on.

[Lexew1899]

Of course, all of the financial insiders claimed this was such a respected, safe, and pure company. How could it not be with two rising stars like SBF and Caroline? Mr. Wonderful tells us how trustworthy the company was. What sound financial advice Shark Tank Extraordinaire.

[Original_Intent]

I wonder if the case can be made that FTX was just a front company to raise Democrat funds. How much went into Democrat campaign funds between 2020 and 2022?

[Lexew1899]

I wonder if the case can be made that FTX was just a front company to raise Democrat funds. How much went into Democrat campaign funds between 2020 and 2022?

Him and his henchmen donated a reported $69 million on the 2022 midterms.
https://www.forbes.com/sites/zacheverso ... c3e4043433

https://cointelegraph.com/news/sbf-has- ... -elections

I can't really find how much he donated in 2020, although many sources cite he was the second biggest donor. On Open Secrets it lists Alameda Research at $6.2 million, although several websites say he donated over $10.

So I am not sure the total he donated in 2020. He allegedly was planning on donating over $1 billion in 2024.

Here are a few interesting articles on his political machinations.
https://www.coindesk.com/markets/2020/1 ... -campaign/

https://www.politico.com/news/2022/08/0 ... d-00049048

https://freebeacon.com/democrats/hero-t ... ction-day/

[Lexew1899]

Just one of the gang.

[Lexew1899]

Many users of FTX who found their balances equalling a fresh $0, are wondering if SBF will face justice. Reports say he is trying to flee the Bahamas to various locations. What are the odds SBF will go to jail? Probably pretty low. Too many goodwill relations with the elite.

https://cointelegraph.com/news/sam-bank ... e-to-dubai

[Lexew1899]

SBF has pretty good relations with the SEC. A sweetheart deal it appears. Carefully crafted pyramid scheme.

"According to Washington insiders I spoke with, the reason behind SBF’s decision this summer to obtain control over BlockFi was to benefit from the troubled crypto lender’s recent settlement with the SEC—basically extending the amnesty BlockFi had received to FTX. Meanwhile, FTX’s recent tie-up with securities exchange IEX (of Flash Boys fame) would also help SBF’s empire come under the U.S. regulatory umbrella. All of this would clear FTX to have the U.S. market to itself as the company lobbied for legislation that could have torpedoed competitors like Binance as well as the emerging DeFi sector.

This appears to be what prominent House member Tom Emmer (R-Minn.) was referring to when he tweeted on Thursday that “@GaryGensler runs to the media while reports to my office allege he was helping SBF and FTX work on legal loopholes to obtain a regulatory monopoly.”

Gensler, a former campaign finance chair for Hillary Clinton, is of course not the only prominent Democrat who may have been willing to flex his influence on behalf of FTX. SBF, you may recall, was one of the biggest donors to President Joe Biden, while his parents—both Stanford law professors—have ties to the party. His mother, Barbara Fried, leads a group called Mind the Gap that helps raise Silicon Valley cash for Democrats, while his father, Joseph Bankman, drafted tax legislation for the powerful Sen. Elizabeth Warren (D-Mass). It’s not a stretch to imagine SBF sought to exploit these political ties to his benefit."

Source: https://fortune.com/crypto/2022/11/11/s ... democrats/

[Jason]

Crypto always was imaginary...the collapse though is going to be spectacular! PPT working overtime Thursday & Friday...see how long they can keep the charade going...and a lot of folks thinking crypto was a way to escape mainstream...that are probably going to get real dangerous here pretty quickly as all their funds evaporate...

[Jason]

I wonder if the case can be made that FTX was just a front company to raise Democrat funds. How much went into Democrat campaign funds between 2020 and 2022?

a way to steal...

...over half stated reserves invested via subsidiary...and up in smoke...they don't state it...but it's not too difficult to read between the lines...meanwhile let's see if they (reinvestment team) escape the Bahamas...some big name billions that were invested in that crew...

[Lexew1899]

I'm sure Lt. col. VINDMEN is busy looking at it as we speak. Rofl

[ParticleMan]

"What the Media Won't Tell You About Sam Bankman-Fried/FTX"
https://www.youtube.com/watch?v=BJnQPmKtJog
https://odysee.com/@reallygraceful:3/wh ... bout-sam:9

[Lexew1899]

Several months ago SBF describes his business model on a podcast. Hosts inform him that’s actually a Ponzi scheme.

[InfoWarrior82]

.

[Lexew1899]

LOL. Ben Garrison is a genius.

[PeacefulProtests]

Crypto always was imaginary...the collapse though is going to be spectacular! PPT working overtime Thursday & Friday...see how long they can keep the charade going...and a lot of folks thinking crypto was a way to escape mainstream...that are probably going to get real dangerous here pretty quickly as all their funds evaporate...

You have to wonder if the entire Crypto space was set up to fail on purpose to pave the way for CBDC's. And like you said most thought it was a way to escape the system when in fact it may have been the system all along aka a "trap"

[PeacefulProtests]

I wonder if the case can be made that FTX was just a front company to raise Democrat funds. How much went into Democrat campaign funds between 2020 and 2022?

Yes but I think it goes even deeper than that. Look at who funded the trial that claimed Ivermectin didn't work against Covid. Yep you guessed it. FTX

I think FTX was just a vehicle to move the agenda forward and SBF was just a pawn in the game

https://www.togethertrial.com/

[abijah]

he did with crypto what the federal reserve banking system does with US dollar.

mr fried bank-man here literally out-jewed the jəws loooool (house divided against itself..? )

~ meme magic is in the air ~

[Lexew1899]

SBF arrested in Bahamas yesterday. I don’t know why, but his shadow really looks like some malevolent demonic entity. Would make for a good Batman villain.

[Lexew1899]

Hairy Plotter!