FTX Explained In 99 Seconds
The collapse of Sam Bankman-Fried’s FTX/Alameda empire has been swift and spectacular. I could talk about it for hours. But there’s no time for that. Here’s a mountain of crypto-fraud mayhem crammed into 99 seconds. More from Nobody Special Finance.
Now, if you have a bit more time — about 20 minutes — you can watch this second video that dives into more detail on this sordid scandal. Learn about Sam Bankman-Fried’s connections, not only with heavyweight politicians but also with financial leaders, including Gary Gensler, the chairman of the U.S. Securities and Exchange Commission.
Are these connections the reason Bankman-Fried hasn’t had his ass hauled into jail? After all, the Biden administration FBI can raid Donald Trump’s Mar-A-Lago home, but these agents lack the energy or focus to arrest a fraudster who ripped billions of dollars off American investors in a ponzi scheme rivaling that of Bernie Madoff?
Even if you don’t have 20 minutes, you should catch Barstool Sports’ founder David Portnoy’s tirade near the opening of this video. It’s a mouthful! More from Classic Kev.
More evidence surfaces that FTX Founder Sam Bankman-Fried may have been using customer funds to support Democrats across the country. Balaji Srinivasin assembles the data. In 2020, the vegan SBF was the second largest donor to the campaigns of Joe Biden and other Democrats. Only George Soros ponied up more lavish outlays to the leftist rats.
Robert Gouveia provides the breakdowns, concluding that SBF and his FTX Foundation might have donated as much as $190 million to politicians, leaf-leaning non-profits, think tanks, academics, journalists and assorted riffraff. Gouveia draws heavily upon rabbit-hole research done by Genco Capital. who tweeted “When you realize that SBF was likely a left-wing agent, it all makes sense as to why SEC Chair Gary Gensler was working with SBF to obtain a ‘regulatory monopoly.’ Makes sense why Gensler has been going after Coinbase – FTX’s competitor. Gensler was finance chair for [Hillary] Clinton.”
