SBF & FTX – The Fraud Of The Century?
- November 18, 2022
Ashton Cohen, Bold TV
FTX, one of the world’s largest cryptocurrency exchanges, which was recently valued at $30 billion, declared bankruptcy this week. There were reportedly over a million users of FTX, and they risk losing all of the funds they had stored or invested on the exchange. Sam Bankman-Fried (“SBF”), the 30-year-old CEO of FTX, was arguably the establishment leftwing media’s biggest crypto darling. However, many are now wondering how SBF’s scam went undetected for so long and what the implications will be for the whole crypto industry. To answer these questions, let’s start by taking a look at the man himself.
Sam Bankman-Fried’s political connections may have been one of the few real assets the company ever held. PPT intends to discover if he and his colleagues could leverage those connections to manipulate the regulatory agencies to his advantage. We have already unearthed covert contact information he may have used to try to hide his conversations with regulators to aid in that investigation.”
Michael Chamberlain, Director, Protect the Public’s Trust
SBF did have one secret weapon his competitors lacked. He (and his family) were very adept at building connections with some of the most powerful people in the country. SBF established contacts with virtually every Democratic power broker imaginable and often participated in events alongside power players such as Bill Clinton, Tony Blair and the like.
In addition, during the midterm elections of 2022, SBF spent $40 million on campaign contributions (second only to George Soros) to support Democratic candidates. This made him a darling of the left-wing news media establishment. SBF’s massive campaign donations also provided him access to the White House. He frequently met with members of the Biden White House to lobby for regulations that would: 1) destroy his competitors, 2) undermine the virtuous aspects Bitcoin brought to the industry, and 3) enable FTX to become the dominant company in the crypto space.