FTX Deep State Dark Money Flow

The FTX Collapse Exposes the Deep State Dark Money Flow

November 23, 2022

Submitted by Christopher Wright, The Daily Skirmish

Edited by James Grundvig, American Media Periscope

Tales From the Crypto

The spectacular collapse of the FTX cryptocurrency exchange is not just a business story. It’s a Washington swamp story, and Republicans will investigate it when they take control of the House in January. One of the core issues is whether “Individuals within the Democrat Party accepted the money with knowledge of potential criminal activity occurring at FTX.”

[Source: Cripto Noticias]

We do know that RINOs in Senate Majority Leader Mitchell McConnell and Kevin McCarthy both received more than $2 million apiece from the FTX dark money pool that flowed through the GOP super PAC “American Dream Action.”

High-flying FTX bought Super Bowl ads and sports facility naming rights in the NBA’s Miami Heat area, which the team ended its relationship. FTX amassed a net worth of $32 billion to become one of the largest crypto exchanges in just three years with 28-year-old Sam Bankman-Fried at the helm. Unfortunately, it lost half its value in three days when customers lost confidence with CZ’s Binance exchange and other “whales” started a run on the bank.

Sam Bankman ‘Fraud’

Media reported that Bankman-Fried secretly siphoned $10 billion in customer funds and transferred it to a crypto research and venture capital firm, Alameda Research, he owned, run by his 28-year-old girlfriend. As Dr. Kirk Elliott discussed on AMP Media’s new show, Surviving the Reset (Episode No. 2), “From Contagion to Crash,” he stated:

“Sam Bankman-Fried accepted $8 billion wire transfers through Alameda Research, which was then transferred to FTX.” Because U.S. banks could not wire money directly to the offshore, Bahamas-based FTX exchange.

Thus, Alameda Research “invested” (aka laundered) in FTX’s crypto token, FTT. The financial roundtrip, once exposed, prompted investors and regulators concern. As a result of laundering billions of dollars into the Democrat and RINO money operations, FTX was left without sufficient assets to pay customers pulling their money out, and bankruptcy ensued.

The End of FTX Dark Financing Operation

Was FTX a Ponzi scheme? Yes, on the surface. But down deep and behind the curtain FTX was a Deep State dark money operation. And as AMP News reported, the likelihood of Sam Bankman-Fried taking over the Jeffrey Epstein “client list” in autumn 2019 is sky high.

Mainstream news reports focused heavily on the Ponzi scheme angle, the lawsuits being submitted by the celebrity FTT promoters, and the calls for crypto regulation and transparency in the cryptocurrency market. They didn’t, however, mention money from new investors being used to pay previous investors, as in a typical Ponzi scheme. Instead, $1-2 billion vanished; FTX lost an additional $3.7 billion in failed trades, in concert with Alameda Research. And some of it went into buying $121 million worth of property in the Bahamas, but a lot of it was going into buying influence in Washington.

FTX, Bankman-Fried, and other FTX top executives poured money into Democrat politicians and liberal causes—$28 million went to a Democrat pro-COVID lockdown PAC and $4 million to a group called Reproductive Freedom for All. Democrat politicians who benefitted include Senators Dick Durbin and Bob Menendez. In addition, Bankman-Fried gave more than $5 million to Joe Biden’s presidential campaign and was the second largest Democrat donor in the 2022 midterms. 

Money also went to Republicans. But it’s common for corporations to make contributions on both sides of the aisle to hedge their bets in the influence game. An estimated $57 million went to Democrat candidates and groups, and $22 million to Republican candidates and groups. [Steve Moore newsletter, 11/21/22.]

Another Democrat politician who benefitted was Maxine Waters. There are pictures of her and Bankman-Fried with their arms around each, smiling. Another photo shows her blowing kisses to SBF. And this is the woman who, as the current Chair of the House Financial Services Committee, will be holding hearings on FTX next month. Moreover, nine members of the committee—seven Democrats and two Republicans—received more than a combined $300,000 in political contributions from Bankman-Fried and others at FTX.

It doesn’t take a genius to see the conflict of interest here. It’s shaping up to be a whitewash, with the committee chair blowing kisses at the perp.

Meanwhile, critics are asking, ‘What did the SEC know, and when did it know it?’ 

It turns out the father of the girlfriend who ran the trading firm I mentioned earlier worked with Gary Gensler, chairman of the SEC when both were professors at MIT. Gensler, former campaign finance chair for Hillary Clinton, has been criticized for not seeing FTX was going off the rails. A famous short seller who spotted trouble at Enron and other places had publicly warned that FTX looked like a scam. In addition, there are allegations Gensler was actively helping FTX find legal loopholes to escape regulation.

Bankman-Fried insists all the money he has been throwing around is entirely innocent and not meant to influence lawmakers or regulators. Of course, the House Republicans will be testing that assertion come January, and we’ll see just how innocent all of this is.

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