As reported, FTX collapsed overnight, and the CEO, Sam Bankman Fried (SBF), is under police supervision in the Bahamas. That is where he lives, and where the company is headquartered. In a matter of days, his $16 billion fortune disappeared. Bloomberg called it “one of history’s greatest-ever destructions of wealth.”
Then FTX was forced to file for bankruptcy after $473 million of its funds were reported stolen in a possible cryptocurrency exchange hack.
That excuse fell apart when media reports noted a secret transfer.
Reuters reported that between $1 billion and $2 billion in customer funds vanished from the FTX cryptocurrency exchange. They also said $2 billion was secretly transferred to its sister trading company, Alameda Research, run by his girlfriend, Caroline Ellison. She is reportedly in Hong Kong trying to get to Dubai.
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Interestingly, the FTX implosion involves Democrats.
SBF is a mega-major Democrat donor, second only to George Soros.
Bankman-Fried gave Democrats nearly $37 million in the 2021-2022 election cycle, according to OpenSecrets.
In May, he said he’d give Dems $100 million and would give up to $1 billion if Trump ran again. That’s 10% for the big guy.
Even more interestingly, SBF had access to the White House.
According to White House visitor logs, the Washington Free Beacon reported that Bankman-Fried met with top Biden adviser Steve Ricchetti on April 22 and May 12.
Gabe Bankman-Fried – SBF’s brother who handles the billionaire’s political operations – visited the White House on March 7, according to the outlet.
Additionally, FTX was also tied to Ukraine, one of Europe’s most corrupt nations. It’s known for money laundering.
In March, the Ukrainian government launched a cryptocurrency donation website backed by FTX.
FTX had also partnered with Ukraine to process donations to their war efforts. It was within days of Joe Biden pledging billions of American taxpayer dollars to the country.
CoinDesk reported in March, “‘Aid for Ukraine. It has the backing of crypto exchange FTX, staking platform Everstake, and Ukraine’s Kuna exchange. It will route donated crypto to the National Bank of Ukraine. Everstake’s Head of Growth Vlad Likhuta told CoinDesk. Ukraine’s crypto-savvy Ministry of Digital Transformation is in on this.
An Everstake press release stated, “Aid For Ukraine is cooperating with the cryptocurrency exchange FTX, which converts crypto funds received into fiat and sends the donations to the National Bank of Ukraine.
“This marks the first-ever instance of a cryptocurrency exchange directly cooperating with a public financial entity to provide a conduit for crypto donations. Earlier this month, FTX already converted $1 million worth of SOL and transferred it to the National Bank of Ukraine.”
As we reported, FTX is a partner of the World Economic Forum.
SBM’s mother, Barabara Fried, is a leftist professor at Stanford.
According to Wikipedia, Sam’s father, Joseph Bankman, is a professional attorney from America working at Stanford Law School as Ralph M. Parsons Professor of Law and Business.
IT’S A CIRCLE JERK
The Democrat-Ukraine-FTX money laundering circle jerk is the kind of story that would have won the Pulitzer Prize for the Washington Post back when either of them meant something.
Now it’ll just be a Twitter footnote at best.
— James Woods (@RealJamesWoods) November 14, 2022
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