LOL: Dems’ Second-Biggest Donor Sees 94% of His Net Worth Evaporate Overnight

https://theamericantribune.com ^ | November 10, 2022 | Will

[Enterprise]

So the red wave ended up not happening, being something more of a pink puddle instead. Has America just become too gerrymandered and partisan for there to be “yuge” wave elections like there used to be? Perhaps. Maybe we need to also not run horrible candidates.

Regardless, there are fortunately a few salty letfist tears to sip on after yesterday.

Those would be the tears of one of the biggest Democrat donors, Sam Bankman-Fried. He ran a crypto company called FTX that was first valued in 2021 at $18 billion, then exploded upward to a whopping $40 billion, at which point Bankman-Fried joked about being able to “devour” a legacy banking company like Goldman Sachs.

[Enterprise]

"Bankman-Fried told Jacob Goldstein of “What’s Your Problem?” that he might donate “north of $100 million” and up to $1 billion to Democrats in the 2024 presidential elections."

So, yer sayin' that he might not have the money to donate in 2024? Perhaps he can ask Jerkerdork at Facebutt for a little help. Heh heh heh.

[kiryandil]

Sounds like he got JoeTatoed...

[cranked]

[Fai Mao]

If it happened to him how many other stake holders lost everything 😕 🤔

[TECTopcat]

My son’s software business just got tanked because of SBF crooked ways -and dems will do nothing

[max americana]

they’re already talking about replacing the naming rights for the Miami Heat arena called FTX Arena to another corporation name as Miami Dade thinks they could not afford paying the naming fees.

[cranked]

Bernie Madoff levels of Ponzi schemes inherently involve multitudes of ‘stake holders’.

SBF coming out and saying he ‘F’ed up’ was an epic understatement when one takes into account those ‘stake holders’ who were involved with him and his dealings.

Crypto’s Lehman moment.

[Steve Van Doorn]

Wikipedia has an interesting take on Sam Bankman-Fried

"Contributions for June 2021 through February 2022 went to members of both parties. They included direct donations to the Republican campaigns of senators Susan Collins of Maine, Mitt Romney of Utah, Lisa Murkowski of Alaska, and Ben Sasse of Nebraska"

Contributions for the year 2022, through August 15, 2022, also went to members of both parties, with $105,000 donated to conservatives, and $35,872,000 donated to liberals, a ratio of 1:341 in favor of liberal candidates.

In 2022, Bankman-Fried provided initial financial support for Protect Our Future PAC. Protect Our Future was launched as a Democratic political action committee with $10 million in initial funding aiming to support "lawmakers who play the long game on policymaking in areas like pandemic preparedness and planning", according to Politico

Bankman-Fried's net worth peaked at $26 billion. 8 November 2022, his net worth was estimated to have dropped 94% in a day to $991.5 million according to the Bloomberg Billionaires Index. By November 11, 2022 Bloomberg estimated Bankman-Fried's net worth to be $1.
https://archive.ph/wmZCh

[Dragonspirit]

That’s good. Now he’ll be able to apply for the socialism programs they like to fund. Win win lol.

[kiryandil]

By November 11, 2022 Bloomberg estimated Bankman-Fried's net worth to be $1.

A smart man worth $26 billion would have had pallets of folding money in secure shipping containers buried on his property.

[Enterprise]

"By November 11, 2022 Bloomberg estimated Bankman-Fried's net worth to be $1."

He is now what he is truly worth!

[Steve Van Doorn]

Changpeng Zhao founded Fusion Systems started out of Shanghai (still worth $33 billion) who broke Sam Bankman-Fried by pulling his money out.

in invested $500 million through Binance to finance the acquisition of Twitter by Elon Musk

https://www.fusionsystems.group/about

[Krosan]

I suspect all crypto is a scam.

[databoss]

What!? You don’t think a random collection of electronic ones and zeros can be worth billions?

Me either.

[Jewbacca]

In a bankruptcy, payments made without consideration during the last year or so have to be paid back, don’t they?

The DNC et al needs to pay this money back

[zeestephen]

If this guy was a Republican, he would already be in jail for a dozen different financial violations.

According to Bloomberg, he runs his crypto empire from a huge hotel penthouse in the Bahamas.

[SaveFerris]

(senators Susan Collins of Maine, Mitt Romney of Utah, Lisa Murkowski of Alaska, and Ben Sasse of Nebraska)

A wretched hive of ....

[TECTopcat]

SBF should be prosecute for criminal fraud but he won’t as he was a big dem donor

[zeestephen]

Re: "$105,000 donated to conservatives"

LOL! More like four crypto-Conservatives...?

Susan Collins, Mitt Romney, Lisa Murkowski, and Ben Sasse.

From memory, all four voted to impeach Donald Trump.

[Brandonmark]

“………spent at least $39,826,856 in an effort to help Democrats win………”

Sounds like a money laundering scheme to me.