Posted on 11/18/2022 9:45:27 AM PST by bitt
The story of FTX's downfall is complicated, convoluted, and unbelievably stupid.
And the only thing dumber than the people who fell for a 27-year-old tech bro’s promise of wealth and unimaginable riches has been the corporate press’s coverage of the crypto exchange’s implosion.
The short of it is this: FTX founder Sam Bankman-Fried is almost certainly a conman and a thief. He opened a “bank” (a crypto exchange), accepted deposits of real money, helped himself to customers' deposits without their knowledge, and then distributed mountains of cash to friends and, more importantly, Democratic coffers. Indeed, Bankman-Fried ranked as the Democratic Party’s second-biggest individual donor in the 2021–2022 election cycle, pumping an estimated $40 million into various Democratic campaigns and activist groups.
Bankman-Fried was able to get away with the scheme for so long because he wrapped himself in the cloak of “effective altruism,” deflecting scrutiny and probing questions by promising to use his enormous "wealth" to address climate change, diversity and inclusivity, world hunger, etc., etc.
Don’t take my word for it. He admitted in a private conversation with Vox journalist Kelsey Piper the altruism bit was a front.
“You were really good at talking about ethics,” Piper said in a private message chat, “for someone who kind of saw it all as a game with winners and losers.”
“Ya,” Bankman-Fried wrote back, “Hehe. I had to be. It’s what reputations are made of, to some extent. I feel bad for those guys who get f***ed by it, by this dumb game we woke westerners play where we say all the right shibboleths and so everyone likes us.”
One would think the national press would take a sledgehammer to Baby Madoff and his apparent Ponzi scheme. But one would be wrong.
(Excerpt) Read more at washingtonexaminer.com ...
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ABCNNBCBS is ignoring it as fast as they can.................
Shocking
This including the laundering through pukaene willif not already be headed down the rabbit hole.
Hey, of course. Many in Congre$$ want to have the same $ucce$$ in dark money investments as the Biden, Pelosi, etc crime families have had and continue to have.
*** He opened a “bank” (a crypto exchange), accepted deposits of real money, helped himself to customers’ deposits without their knowledge, and then distributed mountains of cash to friends and, more importantly, Democratic coffers.***
Sounds remarkably like the head of BLM.
That’s the real power in how the MSM operates!
Been saying it for years.
We always focus on how harsh, wrong, and negative they were about republicans, and Trump in particular.
But it’s their ability to sit on and stiffle the hard-hitting negatives against democrats that is what really sways the public. They never know what they don’t know.
If they had any idea how corrupt their beloved dems really are.......
But Brady and Curry said I should buy their cryptoscam and since they’re already rich they must be smart
Well duh, ….c’mon man…
Anyone notice the Ukraine uber alles talk has really dropped off here as this FTX busiess has come to light?
His job is complete now. He laundered tens of billions of dollars DC gave to Ukraine, and funneled it to Democrat leaders, and a few select Republicans like Mitch. Now he will be used as a US government excuse to go heavily into regulation of bitcoin and other crypto‘s. And they will conclude the only safe thing is for the US government to issue a digital currency, which like George Orwell explained, they will call crypto, the exact opposite of what it really is.
Looks like Brady needs to keep playing for the next 15 years now after all.
FTX, Ukraine, and Democrats. Slava Ukraini!
Maybe the DNC should be forced to return the money received to reimburse investors.
"And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name"
They both learned from “Goodfellas”
“When you can’t borrow another buck from the bank or buy another case of booze, you bust the joint out. You light a match.”
Bad thing is, so did the feds.
It won’t be pretty when that bill comes due.
It is very easy to be generous with other people's money. I want someone honest but cheap to handle my money. That's why I banked at Scrooge National Bank, until the old man started passing out fat Christmas geese.
This punk and his ex GF need to be in jail for a long, long time.
FTX founder Sam Bankman-Fried opened a “bank” (a crypto exchange), accepted deposits of real money, helped himself to customers’ deposits without their knowledge, and then distributed mountains of cash to friends and, more importantly, Democratic coffers. Indeed, Bankman-Fried ranked as the Democratic Party’s second-biggest individual donor in the 2021–2022 election cycle, pumping an estimated $40 million into various Democratic campaigns and activist groups.
ACTION Among the evidence we seek
<><>all docs and communications among employees or agents of the DNC, and FTX donor list
<><>any and all references relating to the Biden Administration’s control, transfer, storage, or other handling of documents subject to FTX donations.
MUST INCLUDE ALL OF BIDENS MEMOS, NOTES, SNAIL MAIL, EMAIL, CALENDAR NOTES, OFFICIAL ORDERS WRT FTX DONATIONS.
All communications records between BIDENS office and RELEVANT PERSONS SUCH AS OBAMA, THE CLINTONS PELOSI, in connection with FTX.
The FOIA request should seek
all calendar entries,
phone messages,
text messages,
emails,
encrypted app chats,
letter correspondence
long-distance toll records
made from relevant dates.
Office of Information Policy (OIP)
U.S. Department of Justice
441 G St, NW, 6th Floor
Washington, DC 20530
E-mail: National.FOIAPortal@usdoj.g
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