Sam Bankman-Fried, former CEO of now-bankrupt crypto exchange FTX, had planned to become the biggest donor to the Democratic Party in 2024, a cycle in which he might have spent as much as $1 billion, according to investigative journalist Theodore Schleifer, writing for Puck News Wednesday, Nov. 23. The erstwhile billionaire filed in April, 2022, to incorporate…
Disgraced Crypto Ex-CEO Was Plotting to Spend Nearly $1 Billion Boosting Democrats, Reshaping American Politics: Report
November 24, 2022
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FTX Was Sam Bankman-Fried’s ‘Personal Fiefdom,’ Lawyers Say
FTX was run like a “personal fiefdom” of former CEO Sam Bankman-Fried, a lawyer for the failed cryptocurrency exchange said in a Wilmington, Delaware bankruptcy court on Tuesday. The comment came during the first bankruptcy hearing for the collapsed crypto exchange, one of the biggest in the world. The hearing was live-streamed on both YouTube and Zoom. FTX…
Bankman-Fried Pushed for Crypto Regulation in Weeks Leading Up to FTX Bankruptcy
November 23, 2022
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One month prior to the catastrophic collapse, prominent crypto investors accused FTX founder Sam Bankman-Fried of “quietly lobbying” regulators. For well over a year, the former billionaire offered various suggestions, in interviews and in policy papers, as to how D.C. officials might police the nascent industry. Legislative influence runs in the family. His father, Joseph…
FTX Poured Millions Into Political Campaigns Before Bankruptcy
November 23, 2022
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Former FTX executives contributed significantly to this year’s midterm elections in an effort to gain influence in Washington. After the collapse of the cryptocurrency exchange, the big beneficiaries of FTX’s donations have attracted attention. According to the Center for Responsive Politics, FTX founder Sam Bankman-Fried and two other executives poured more than $70 million into…
Incoming GOP Congressman Fears Democrats Will Downplay FTX Scandal, Calls for ‘Thorough’ Investigation
A newly-elected GOP representative from New York said that he worries that Democrats will try to downplay potential campaign finance and securities law violations by former FTX CEO Sam Bankman-Fried using a lame-duck session of Congress before the new Congress is sworn in. Republican George Santos, 34, who won New York’s 3rd Congressional District flipping…
Federal Prosecutors Had FTX on Their Radar Months Before Collapse
Federal prosecutors from Manhattan investigated for months the now-bankrupt cryptocurrency exchange FTX in connection with a 1970 law designed to prevent money laundering, but it is unclear whether the investigation concluded prior to the firm’s recent collapse amid a liquidity crisis, according to Bloomberg Monday, citing anonymous sources. The U.S. Attorney’s Office for the Southern…
Sam Bankman-Fried and the Pandemic Industrial Complex
November 21, 2022
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Commentary The collapse of Sam Bankman-Fried and his fraudulent cryptocurrency empire at FTX is news at its most entertaining. Who doesn’t love the story of a bigshot billionaire revealed to be an outright fraud? It’s black-and-white. FTX owes billions in debt and doesn’t actually own a dime of the assets it claimed. Game over. At…
Missouri State Pension System Loses Money Due to FTX Bankruptcy
The Missouri State Employees’ Retirement System (MOSERS) is estimated to have lost $1 million due to its investment in FTX. MOSERS administers disability benefits, insurance, and retirement for most state employees in Missouri. This includes higher education staff, judges, and statewide elected officials. Under its embattled CEO Sam Bankman-Fried, FTX grew to be the third-largest crypto…
FTX Collapse Adds to 2022 Woes for Pension Funds, Investment Firms
Following the bankruptcy of cryptocurrency exchange FTX, a growing number of pension funds and investment firms are revealing that they were directly or indirectly exposed to Sam Bankman-Fried’s crypto empire, resulting in hefty losses for investors in the United States and Canada. This comes as many of these pension funds and Wall Street firms have…
FTX Scandal Exposes ‘Woke’ as the Crime Syndicate of Our Times
Commentary Move over mafia, “Lucky” Luciano, Carlo Gambino, John Gotti, et al. You or your living descendants are no longer the “capo di tutti capi” when it comes to American crime syndicates, not even close. The numbers don’t lie. (Well, they do, but in a different way.) The ideology known as “woke” has superseded you…
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