The Thief-in-Chief must have lost a lot of money.
Posted on 11/20/2022 11:04:02 AM PST by Kaiser8408a
As Meryl Steep said in Death Becomes Her, “NOW a warning??”
Joe Biden Leads ‘Critical’ Call For Game-Changing, Global Bitcoin And Crypto Rules After Shock FTX Collapse. After Sam Bankman-Fried helped Democrats avoid a red wave. NOW a warning??
The chaos created by Sam Bankman-Fried (FTX Crypto Exchange) and Alameda Research (SBF’s hedge fund) will go down in history as one of the biggest scams. And should earn a top spot on Phil Hall’s 100 Years Of Wall Street Crooks.
Sam Bankman-Fried’s bankrupt crypto empire owes its 50 biggest unsecured creditors a total of $3.1 billion, new court papers show, with a pair of customers owed more than $200 million each.
The case is FTX Trading Ltd., 22-11068, U.S. Bankruptcy Court for the District of Delaware.
And then this headline from the Wall Street Journal: FTX’s Sam Bankman-Fried Cashed Out $300 Million During Funding Spree.
On top of that, SBF is attempting to raise MORE money. The question is … who would be dumb enough to listen to SBF?
Crytpo continue to fall as investor confidence in crytpo has waned since SBF’s fraud was exposed. (In SBF’s defense, I am sure that current House Financial Services committee Chair Maxine Waters will declare he is a victim of changing market conditions, not historically massive fraud and political influence pedaling).
Didn’t SBF or his Alameda Research girlfriend Caroline Ellison look at Bitcoin as inflation roared under Biden and Fed started to remove its epic monetary stimulus? Or did any of the investors or their representatives bother to look at the books of FTX or Alameda Research??
I have the sneaking suspicion that Caroline Ellison or some other little fish will take the fall for SBF’s fraud. SBF has bought-off too many politicians.
NOW a warning from Biden??
Sam Bankman-Fried’s magical election elixir.
(Excerpt) Read more at confoundedinterest.net ...
If the Mafia had been involved with FTX, both Sam and Caroline would now be wearing concrete galoshes.
This entire FTX operation existed on several levels for different goals and time phases.
1. The insiders funneled money out, via cutouts, into their own pockets.
2. The Zelensky and Co. clique in Kiev got to launder vast money, sending a % back to the originators. Some of this FTX to Ukraine money actually bought a bullet. Most went to the Ukro elite bosses [this ensures compliance and silence], but nearly as much went back to the USA as kickbacks. Some of this went into political hands, for no congressional no-oversight, and so the SEC looks other way)
3. Longer term goal: The entire fiasco, having run its course and been burned, will be used to discredit crypto generally as unsecure. “This is why we need laws to outlaw people having secret crypto wallets with no oversight.” (But the mega millions stolen and laundered during 1. and 2. are still gone, so they were a big success.)
If the GAE can’t control crypto, it will be outlawed. Federal LE stings will be set up to make examples out of “unregistered crypto outlaws.” Ten years in prison will make crypto unpopular. Folks will get out instead of complying with registration/regulation.
4. Finally, and the ultimate goal, the whole thing will be used to help usher in a national CBDC. It will be sold just like Trump Russia Collusion, the Covid Pandemic, mass vaccination, Climate Change, Ukraine, you name it. FTX will be the evil villain and reason for CBDC.
“All good Americans support one safe and secure digital currency!”
Just hold your hand over the chip reader, and you are good to go.
I’m going to move to some tropical island with savages and barter...
I prefer dangerous freedom to 1984.
Any day.
Something does have a foul odor about it.
This has little to do with bitcoins or other make believe money. It was your common ordinary run of the mill fraud. Makes not difference if it was bitcoin, bank notes, investments, etc., it was simple fraud.
Biden can just bail them out...
We need a single global currency and one government!
Monopoly money! I’ve bought the game many times and still have all the cash. I could start out rich!
Mark
Almost seems like it is planned to take down all cruptocurrencies and switch to a digital government controlled crypto.
Biden Leads Call For Global Bitcoin And Crypto Rules After cashing all his FTX checks
the real story
I smell a bailout on the way!
Never let a created crisis go to waste.
Ding ding ding ding! Yu nailed it EEGator. That is exactly the first thing that entered my mind...this is a complete set up for Biden to pull some economic fast hand that screws up all!
Hochul signs two-year cryptomining moratorium: What does that mean?
Interesting timing.
Hey NEWB....the GF will not be touchable.
Ditto all that!!
The CFC should have regulations in place for this already, I don’t think yet they have regulations in the credit default swaps and derivatives markets.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.