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Democrat corruption strikes again-crypto losses anyone?
[b][link=https://link.theblaze.com/click/29682630.964017/aHR0cHM6Ly93d3cudGhlYmxhemUuY29tL25ld3MvcmVwb3J0LW92ZXItMS1iaWxsaW9uLW1pc3NpbmctYWZ0ZXItZGVtb2NyYXQtbWVnYWRvbm9yLXNlY3JldGx5LXRyYW5zZmVycmVkLWN1c3RvbWVyLWZ1bmRzLWZyb20tZnR4LXRvLWhpcy10cmFkaW5nLWNvbXBhbnk_dXRtX3NvdXJjZT10aGVibGF6ZS1kYWlseVBNJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPURhaWx5LU5ld3NsZXR0ZXJfX1BNIDIwMjItMTEtMTImdXRtX3Rlcm09QUNUSVZFIExJU1QgLSBUaGVCbGF6ZSBEYWlseSBQTQ/5d926500fc942d5404b343eeC184cda2b]Report: Over $1 billion missing after Democrat megadonor ‘secretly’ transferred customer funds from FTX to his trading company[/link][/b]
Democrat megadonor Sam Bankman-Fried’s troubles appear to be mounting. On Election Day, he lost nearly 94% of his estimated $15.6 billion fortune.
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[u][b]Note of caution from OP: the comments below are from a crypto posting site, I have attempted to double check all the comments and assertions and so far have not found any glaring errors or misrepresentations. One issue that is arising is the assertion that money donated from the US to Ukraine for economic and military support [i]may have found its way i[/i]nto the FTX [/b][/u][b]cyrpto investment company and then was washed back into the Dem money machine for the recent election.[/b]
[b]This leads to the assertion of corruption. I have seen that in a couple of sites, and the money trail is under investigation. Sam BF and his family are under scrutiny, and to my mind he may be the front guy and the fall guy and his health and life may be in danger, and I do not say that lightly. [/b]
[b]When that much money is at stake none of the players may be safe. [/b]
[b]So far no defending comments from the Dems and the lobbyist operations in DC, but I expect the standard arguments that this is a conspiracy theory, etc, tinhats up in arms, etc, you know, fever swamps, the standard stuff. [/b]
[b]Or that the Russians are behind it with 51 former intel officers writing a letter , and so on. [/b]
[b]To my mind, there is theft, a ponzi scheme, and then dem contributions and an influence peddling operation, that I have concluded with a high degree of certaintly so far. [/b]
[b]Crypto is prone to this kind of manipulation by unsavory characters, and it seems Sam BF and his family may be of that persuasion.[/b][h3]”Prosecution Futures – The Downfall Of FTX And Everything Crypto[/h3] I have been in awe this week about the stupidity of the people who had invested in the crypto-‘exchange’ FTX. I am likewise in awe that anyone would have ‘parked’ their ‘money’ in an account of that unregulated entity. How stupid can one be?
Crypto ‘currencies’ have no real purpose. They ain’t money. Their value solely depends on the trust people have in them. When the trust vanishes their values go to zero. [link=https://www.financedigest.com/behind-ftxs-fall-battling-billionaires-and-a-failed-bid-to-save-crypto.html]That is what happened[/link] to FTX and the FTT ‘currency’ the company had issued:
[blockquote]The 30-year-old had set up Bahamas-based FTX in 2019 and led it to become one of the largest exchanges, accumulating a near $17 billion fortune. News of the liquidity crunch at FTX valued in January at $32 billion with investors including SoftBank and BlackRock sent reverberations through the crypto world.
The price of major coins plummeted, with bitcoin slumping to its lowest in almost two years, heaping further pain on a sector whose value has fallen about two-thirds this year as central banks tightened credit.
[/blockquote] When Softbank’s Vision Fund invests into something it is a sure sign that its value [link=https://news.yahoo.com/softbank-vision-fund-loses-7-060637742.html]will soon sink[/link].
There was a lot of criminality involved here. FTX lent its customers’ ‘money’ to Bankman-Frieds trading firm, Alameda Research, which had invested it in a number of other loss making crypto schemes. The likewise shady crypto ‘exchange’ Binance had owned a big share of FTX’s ‘currency’. Last Sunday it announced that had sold all of it. That was the squeeze that toppled its main competitor. The whole scheme came down. The trust was gone. People pulled their ‘money’ from the FTX ‘exchange’ accounts. The company no longer had access to enough money to pay out what it owned. Yesterday it went into bankruptcy.
Some of the money that FTX allegedly gave to Alameda Research [link=https://www.ibtimes.com/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-3635154]had vanished on its way[/link]:[blockquote]At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter. The exchange’s founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried’s trading company Alameda Research, the people told Reuters.
A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7 billion. The other said the gap was between $1 billion and $2 billion.
[/blockquote] The whole thing was, like [link=https://web3isgoinggreat.com/]about anything crypto[/link], one huge fraud:
[blockquote]The documents showed that between $1 billion and $2 billion of these funds were not accounted for among Alameda’s assets, the sources said. The spreadsheets did not indicate where this money was moved, and the sources said they don’t know what became of it. In a subsequent examination, FTX legal and finance teams also learned that Bankman-Fried implemented what the two people described as a “backdoor” in FTX’s book-keeping system, which was built using bespoke software.
They said the “backdoor” allowed Bankman-Fried to execute commands that could alter the company’s financial records without alerting other people, including external auditors. This set-up meant that the movement of the $10 billion in funds to Alameda did not trigger internal compliance or accounting red flags at FTX, they said.
[/blockquote] The guy is now on the run.
There is a different aspect of the story that deserves a lot more scrutiny:
[blockquote]Mr. Whale April 25, 2019: Biden announces his presidential campaign.
13 days later, Sam Bankman-Fried, son of Barbara Fried (co-founder of political fundraising organizations), launches #FTX crypto exchange.
The exchange is an overnight success. SBF becomes biggest donor to Biden.
It really makes you think right?
FTX imploded on election day by the way 🙁
[/blockquote] Sam Bankman-Fried’s mother [link=https://en.wikipedia.org/wiki/Barbara_Fried]is[/link] a “co-founder of the political fundraising organization Mind the Gap, which advocates for progressive political candidates and funds get-out-the-vote groups.”
Sam Bankman-Fried put a lot of the money he had ‘owned’ [link=https://fortune.com/2022/11/10/sam-bankman-fried-ftx-joe-biden-democratic-party-second-biggest-donor/]into Democratic politics[/link]:
[blockquote]The 30-year-old Bankman-Fried has been a major force in Democratic politics, ranking as the partys second-biggest individual donor in the 20212022 election cycle, according to Open Secrets, with donations totaling $39.8 million. That ranks only behind George Soros (about $128 million) but ahead of many other big names, including Michael Bloomberg ($28.3 million). Whats more, he had promised to spend far more on Democrats moving forward, predicting in May that hed fund north of $100 million and had a soft ceiling of $1 billion for the 2024 elections.
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Bankman-Fried was a major donor to President Joe Biden in the 2020 election and is the primary donor to the Protect Our Future PAC, the political action committee which endorsed Democratic candidates such as Peter Welch, who this week won his bid to become Vermonts next senator, and Robert J. Menendez of New Jersey, who secured a House seat.[/blockquote] That was either protection money or a well played scheme by the Democrats to finance their elections. Then again- it may have been both.
The White House was [link=https://freebeacon.com/biden-administration/beleaguered-crypto-billionaire-was-hobnobbing-at-white-house-just-six-months-ago/]directly involved[/link]:
[blockquote]A cryptocurrency billionaire facing federal investigation for mishandling customer funds had high-level White House meetings just months ago, as Congress was debating how to regulate his companyand just weeks before he pledged to donate up to $1 billion to Democrats ahead of the midterm campaign. Sam Bankman-Fried, the owner of cryptocurrency exchange FTX, met on April 22 and May 12 with top Biden adviser Steve Ricchetti, according to White House visitor logs reviewed by the Washington Free Beacon. At the time, FTX was lobbying Congress and federal agencies to shape regulation of the crypto industry.
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[Bankman-Fried] gave more than $5 million to Bidens 2020 presidential campaign, and has given millions more this cycle to the Democratic Party. In early May, between his first two visits to the White House, Bankman-Fried doled out $865,000 to the DNC, according to Federal Election Commission records. Earlier, in March, he cut three checks totaling $66,500 to the Democratic Senate Campaign Committee, and later in June he sent $250,000 to the Democratic Congressional Campaign Committee.
He said in June, weeks after his most recent White House meeting, that he might give up to $1 billion to support Democrats in the midterms, though he backed away from that pledge in September.
Amid the political spending, Bankman-Fried has led an aggressive lobbying campaign in Washington related to cryptocurrency regulation. He met with Ricchetti, the White House counselor, on April 22 and May 12, according to visitor logs. He met on May 13 with Charlotte Butash, a policy adviser to the White House deputy chief of staff.
Bankman-Fried was accompanied in some of the meetings by Mark Wetjen, the head of policy and regulatory strategy at FTX, who served as commissioner on the Commodity Futures Trading Commission under former president Barack Obama. Eliora Katz, FTXs chief lobbyist, also attended the meetings but did not mention lobbying the White House in disclosures filed with Congress.
Bankman-Frieds meetings came weeks after White House officials met with his brother, who directs the billionaires political operations. Gabe Bankman-Fried visited the White House on March 7 along with Jenna Narayanan, a Democratic strategist who once worked for Tom Steyer and the Democracy Alliance, a network of wealthy liberal donors who fund left-wing causes. Gabe also attended the May 13 meeting with his brother and FTXs lobbyists.
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Bankman-Fried has lobbied for a bill proposed by Senate Agriculture Committee chair Debbie Stabenow (D., Mich.) that would put the Commodity Futures Trading Commission in charge of crypto regulation. Bankman-Fried donated $5,800 to Stabenows campaign in February, and $20,800 to her joint fundraising committee in January. Bankman-Fried contributed to other Democratic members of the committee amid his lobbying campaign. He sent a combined $31,000 to campaigns and joint fundraising committees tied to Sens. Cory Booker (D., N.J.), Tina Smith (D., Minn.), Dick Durbin (D., Ill.), and Kirsten Gillibrand (D., N.Y.) from October 2021 through June. ”
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33 Replies
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Already under discussion in the existing Bitcoin thread (off-topic after hours)
[link]https://www.auntminnie.com/forum/tm.aspx?m=652821[/link]-
Billionaire geniuses arent that. Or either in this case.
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Besides, crypto was & is a scam.
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This poor guy is so angry about the Turkish citizen losing a senate race that he stoops to blaming democrats for stupid people losing their money on crypto
Too funny
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All I know is that anyone who owns crypto should start praying right now that another exchange doesn’t bite the dust over the next X # of days or else all hell will break loose.
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The concept of centralized exchange is kinda at odds with the whole “decentralized” theme of crypto…. doesn’t make a lot of sense imo. Probably the majority of them will fail because they aren’t regulated and not required to hold reserves by law etc. Should be fun to watch….-
This belongs in off-topic, politics.
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What the heck does this have to do with “Democrat corruption” or politics at all? Was Enron because of Republicans? And more importantly, what does this have to do with radiology? Why post it on the General Radiology forum?
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He is mad because Dr Oz lost
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Kool aid time.
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I’d like to give a shout out to my Homie YE!
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It’s insightful threads like these, careful, conscientious work from the moderators, and the modernized user interface that remind me why Auntminnie has continued to thrive over the years.
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Quote from RadJedi
It’s insightful threads like these, careful, conscientious work from the moderators, and the modernized user interface that remind me why Auntminnie has continued to thrive over the years.
Post of the year.
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Quote from Nathaniel
Dr Oz didn’t lose. Fetterman got millions of fraudulent votes that pushed him over the edge. This isn’t rocket science. Come on.
WWG1WGA -
Some of these posters act like they don’t know that hundreds of thousands of votes in PA last time were declared illegal, but it didn’t matter since it was after the fact.
The harvesting is obvious. I’m sure the “voter suppression” people would bank at a bank that allowed other people to access their funds by using documents and no check by the bank. Right? It’s funny how awful their positions truly are. Then they talk about the “law” and “morality”. Quite amusing. -
Did they look on Hunter Bidens laptop?
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This is dumb. If any of this conspiracy BS were true, then its proponents should put up under oath in a court of law, not in social media where anyone can say anything. Otherwise it’s all talking and squawking.
Put up or shut up. The fact that you won’t present any of this in a court where words matter and you can get prosecuted for lying under oath or for libel/slander speaks for itself. -
Quote from Nathaniel
Dr Oz didn’t lose. Fetterman got millions of fraudulent votes that pushed him over the edge. This isn’t rocket science. Come on.
If OZ was a PENNSYLVANIAN, he would have known that the Steelers had a By Week. Serves him right for his abhorrent lack of knowledge about the NFL
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Quote from SP333
Quote from Nathaniel
Dr Oz didn’t lose. Fetterman got millions of fraudulent votes that pushed him over the edge. This isn’t rocket science. Come on.
If OZ was a PENNSYLVANIAN, he would have known that the Steelers had a By Week. Serves him right for his abhorrent lack of knowledge about the NFL
[link]https://youtu.be/q8SmmkfBem8[/link]
“My ‘Pennsylvania Phillies are in the world series and I just ate a delicious Philadelphia cheese and steak!” -
Sure, and Trump won the election, LOL. Give it a rest. This doesn’t belong here. Hey, did you see the Mike Pence interview last night? Good stuff.
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It’s worse than this. Cohodes knows and someone will cover it, which is worse in literally countless ways including international bribery and corruption. Gensler met with Bankster, I wonder why
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This was an obvious international laundering scam. You won’t see dergon post on it in off-pol, though, I wonder why?
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Everyone is out to get the republicans
Libs are evil
Cant wait til Marjorie Taylor Greene grabs McCarthy by the balls and starts investing and impeaching them all
Really looking forward to it
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Great defense.
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Agree, as should other threads that have been on for 6 months. 100% with you. Consider my point proven.
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Bingo
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Trump is a fascist who tried to overthrow the elected government.
FTX is a money laundering scheme to benefit democrats and other leftist organizations.
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Quote from fw
Trump is a fascist who tried to overthrow the elected government.
FTX is a money laundering scheme to benefit democrats and other leftist organizations.
I agree with you and msk, move it out
They tried to throw Trump out (illegal operation on elected gov’t) … two can play that game, if we’re honest. -
In case any of you haven’t noticed, AM is pretty much on auto-pilot right now.
Threads aren’t going to get moved or closed.
But … there is already an existing thread on Bitcoin, crypto, etc in the off-topic after hours area. This thread includes ongoing discussion of SBF and the FTX collapse.
So… if we’re in agreement, we can just let this thread fall to the bottom by no longer posting in it and those who are interested can continue the discussion here:
[link]https://www.auntminnie.com/forum/tm.aspx?m=652821[/link] -
None of this belongs in ‘genrad’ or is truly crypto related.
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Quote from Dream Run
Bingo
He was replying to Sandeep who correctly pointed out this should not be in the general forum.
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