Fact or Fake? FTX collapse related to Biden Administration and Anti-Ukraine . .

Fact or Fake? FTX collapse related to Biden Administration and Anti-Ukraine weapon which is alarming news.

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Conspiracy theorists allegedly pushed by Russian propaganda picked up on an utterly unsupported narrative that FTX had helped the Biden Administration funnel funds supporting the Ukrainian war effort back to the Democratic Party.

A disinformation campaign peddling a conspiracy theory that the bankrupt FTX exchange was helping the Biden Administration funnel money to the Democratic Party has gotten enough traction that it had to be refuted, according to a Ukrainian Deputy Minister.

Alex Bornyakov, Deputy Minister for Digital Transformation, took to Twitter on Monday to say “Ukraine's gov never invested any funds into FTX. The whole narrative that Ukraine allegedly invested in FTX, who donated money to Democrats is nonsense, frankly,” ending with a facepalm emoji.

The crypto community has been hugely successful in raising funds for Ukraine’s war effort, with the fundraising group Aid for Ukraine raising $60 million to support the war effort and humanitarian relief. The country has raised hundreds of millions in crypto, $135 million of it by June, Coindesk reported.
What Aid for Ukraine did do, Bornyakov said, is use FTX to off-ramp the more than $60 million collected by the fundraising group Aid for Ukraine into the fiat currency it needs to buy everything from bullets to bandages in support of its war effort.

The nonprofit was backed by Ukraine’s Kuna exchange, staking platform Everstake and FTX — which has (or had) FTX Pay, a business that allows merchants to let customers use crypto in payment at the register and on websites, but receive fiat currency.

Binance and Coinbase have similar divisions, and there are a number of companies dedicated to the business, including Strike and BitPay.
Propaganda Going Mainstream

Aid for Ukraine also addressed the rumors, tweeting that it is a “Russian propaganda” campaign that “uses the FTX crisis to obstruct Ukrainian crypto fundraising.”

In an 11-part Twitter thread on Nov. 15, Aid for Ukraine took aim at what it alleges are propaganda spreaders in the U.S. It said:
“Certain Twitter users, including fake accounts of US congressmen and biased media outlets, have disseminated rumors that hundreds of millions of USD donated to Ukraine were illegally transferred to the US Democratic Party.”

That narrative “does not correspond with reality,” it said, adding that $54 million of the crypto it raised has “already been spent on Ukraine’s humanitarian and military needs.”

While the story about Ukraine not just funneling money to Democrats but investing in FTX in order support former FTX CEO (and former billionaire) Sam Bankman-Fried’s eight-figure political donations — which did go largely to Democrats — was first popular on extremist websites like 4Chan and far right media sites — liberally laced with anti-Semitism — it rapidly became gained more mainstream .

Media industry site Media Matters pointed out that Twitter owner Elon Musk “amplified conspiracy theories about FTX’s collapse," calling it "the latest instance in Musk’s long history of amplifying far-right content on the platform."

On Nov. 15, Fox News covered the story, pointing to Bankman-Fried’s enormous political contributions that went largely to Democrats. It said:
“In addition to the company's dealings with Democrats, FTX is also being scrutinized for potential connections to the war in Ukraine. Despite a Ukrainian crypto official denying investments into FTX, [‘Fox & Friends Weekend’ host Will] Cain argued it is worth questioning the connection of Democrats and politicians supporting the war in Ukraine.”

Cain was quoted as saying: "We're journalists asking an important question: was money from Ukraine going back to the people that were voting to fund the war in Ukraine?"

The article did not try to answer the question in any way.

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What is surprising is; it could be harsh reality that crypto space might be ruined with the two type of people now:
First one is Government who wish to do the dirty business like this and other kinds could easily move the funds via crypto space, keep it untraceable and stay white in front of the public.

Second one is straight face criminals who does not care about anything at all could be using crypto space to transfer their millions of dollars for drugs, weapons, and stuff like that.

Though we know both of them are one and them, the only difference is former one comes clean and second one is shadow business, if caught then caught for sure.

With the Ukraine's story above, it is serious allegations against the Biden administration and recent fall of the FTX.
This could mean many things if proper proofs are collected and shown that there was conspiracy story behind this event and government was actually using the FTX to fund Ukraine's army with it without trace.

Anyways, Ukraine is already getting donations. $60 million were raised via crypto only which means it's not an impossible fact that it can't be done like that.

Do read the storyline, and few connections between Russian diplomats and the conspiracy theory behind it. What are your thoughts?

if i donate to say oxfam on monday

then i buy a banana on tuesday(donate to political party)

that does not mean the banana goes to oxfam.. because physics:timeline

..
the conspiracy is short of a few sheets of tin because

FTX PAYING into politicians. is not the same direction flow of money as the conspiracy tries to suggest

   P<-F->U
is not
   P->F->U

also
the U.S defence budget is not a budget biden personally has access to to syphon off. nor to then hand to a crypto company

the U.S defence budget was used to supply bullets. kevlar. etc
those bullets were handed to nato. and nato done a deal with UKraine government

the crypto donations for ukraine. went to ukraine politicians because THEY set up their own addresses and advertised them for donations

then in ukraine the ukraine politicians used Kuna to convert to fiat to then buy supplies from nato and other neighbours

FTX is all about exchanges, how is this related to bitcoin discussion when you can only summarize the whole of this under few sentences in one of the already created threads we have on the forum that talks about this same subject matter, this is more of a politics and society discussion since you included names associated to that and besides there's enough threads already created about FTX exchange and FTT.

This really never get's old in the forum everytime something Big happens they would try to connect it to any event just to blame it.
Linking crypto and other stuff just to justify or even have something to blame,
I think they just find it a lot more easier to accept if they have something to blame it on, that is why they try to connect everything.

Quote from: Flexystar on November 16, 2022, 02:38:55 PM

Fact or Fake? FTX collapse related to Biden Administration and Anti-Ukraine weapon which is alarming news.

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All fake
Things are much simpler.

Sam donated to democratic party just to get closer to them, to make a lobby to strengthen regulations in his favor.
Ftx just wanted to keep binance away from USA, and he was trying to do through suport of the democratic party.

Quote from: bitmover on November 16, 2022, 03:41:43 PM

Sam donated to democratic party just to get closer to them,

he also donated to the republicans hedging his bet that the donation might atleast get some chummy favour time with whomever wins

but. republicans are jealous that the dems got more donations

scam bankman fraud spent about $32m on democrats
FTX 2nd in command Ryan spent $19m on Republicans

Fake.
Let's all just keep the argument remaining on FTX on its own. Whether FTX has donated to the administration, that doesn't make sense that all of these conspiracies are for real.
Every huge company donates to the government and possibly that it has supported them during the elections because it probably is aware that it will have its pay back for them when these officials they have supported goes on their respective positions.

Probably the worst reason I have see so far on the FTX fall. Have you checked how Joe Biden the president of the United state of America administration or those against Ukraine connects with the fall of FTX.

The fall of FTX is starting to get blown out of proportion. And when ever A crypto-currency is likened to government there are always shades of corruption. I think the FTX fall rather has to do with how the internal management was handled.

This won't be the first time we see this take for example Luna, their fall has nothing to do with vindictive actions against them, rather wrong powerful moves can end any crypto-currency.

You can't destroy decentralized crypto space via a centralized exchange!
You only can "destroy" cryptocurrency holders who are dumb enough to trust you, but isn't this how everything in this world works?

Imagine that you have a house and you rent it out and the person who you trust with the keys is a thief who rips the cables and pipes from the walls to sell them later as scrap? You may get the police to catch the thief but when they do you find that he has nothing. He bought drugs with the money and got wasted and there's no way to get any money from him. Sam is a thief who wasted all the money and this doesn't change anything for millions of bitcoin users who had their coins elsewhere. The crypto space is not going to be destroyed because some retirement fund manager was dumb enough to hold coins on FTX or because Kevin O'leary shilled for them.

My thoughts is that the primary reason why FTX collapsed is that SBF is irresponsible. That's it! It doesn't have anything to do with something else. He wanted to become big. He wanted to create an image, an empire. He wanted to be as rich, influential, and powerful as possible. He spent left and right. And because he's using his clients' money for the same goal, he failed. He was bound to fail. He was a ticking time bomb. But it was CZ who actually triggered the bomb to finally explode!

None of that has any correlation with FTX and it strikes me as more of a conspiracy theory.

We all know because FTX went down because Binance tweeted: "We are liquidating our remaining holdings of FTT token after learning that s large majority of it was held by one entity". Then everyone started selling their FTT, which killed FTX's liquidity in the process.

Conspiracy theory fans will find rich material for discussion, which will be fueled by two reasons:

Sam's donation to the US elections: Bankman-Fried spent millions on Dem campaigns - Axios
Sam's problem with the founder of Binance and money laundering charges: Sam tried to pay some members in an attempt to move money laundering cases against CZ, which made the end of the billionaire.

We will see more accusations, but the Russian-Ukrainian war is far from this.