The FTX conspiracy

[pixie85]

There's a theory circulating around that FTX was a laundering operation for the democratic party. SBF's parents are closely tied with the party and he donated a lot of money to their cause. Democratic senator Warren is anti Bitcoin and so is Gary Gensler, the head of the SEC, who is also a democrat.

The mother, Barbara Fried is, according to Wikipedia: "a co-founder of the political fundraising organization Mind the Gap, which advocates for Democratic Party candidates and funds get-out-the-vote group"
The father, Joseph Bankman "was involved in FTX, including raising funds for the firm before its bankruptcy"
He also has close ties with Elizabeth Warren and helped her with tax legislation.

According to former FTX employees, Sam had access to all wallets and his parents were using it to help run political campaigns for the party that doesn't like anonymity, freedom and being your own bank.
Makes you wonder how much access into the company books his parents had. Remember that they're both professional lawyers with a lot of connections. It's hard to believe that a lawyer with access to the company wouldn't know that the books are being cooked, unless he was doing some cooking himself.

Then there's Caroline Ellison, the CEO of Alameda that, according to Sam, lost all the money.

Gensler's former colleague at MIT, where he is Professor of the Practice of Global Economics and Management, is Glenn Ellison, the father of Caroline Ellison, Bankman-Fried's ex-girlfriend.

The general counsel of FTX, Ryne Miller, also used to work as lead counsel to Gensler at the Commodity Futures Trading Commission.

https://www.dailymail.co.uk/news/article-11438875/Questions-SEC-chair-Gary-Gensler-agency-miss-signs-FTX-collapse.html

The connections are just too obvious.

[1714286645]

1714286645

[franky1]

funny thing though

FTX made donations to the democrats.. and Republicans
i just laugh that tin hat wearers only talk about the dem donations

dems $27m
Reps $19m

seems we have Rep tin foil hat wearers angry that they didnt get more donations

ryan co-ceo $17m (R) American Dream Federal Action super PAC.
SBF ceo $2m (R) GMI super PAC

SBF $27m (D) Protect Our Future super PAC.

oh and one more thing
when businesses "donate" to not for profits. they get a tax write off. meaning its a no cost no loss thing to donate in comparison to paying that equal amount in tax

these amounts of maybe $70m combined if you include al the smaller donations of both sides.. amount to a tax rounding error. in comparison to the exchanges full collateral/liability amounts that are in billions

[crwth]

This is a fascinating topic knowing that they have a lot of things and connections behind it. All I thought was they have a lot of backing and think they have that kind of power with all the access and relationships; it's safe to say that there is something fishy about it. It's going to take more work than being able to continue with that operation, knowing that there's an underlying motive behind it.

Oof, many people are now really revealing their part in their whole parts in this. 

[bittraffic]

Mark Moss's story sounds really true when he says building FTX and collapsing it at the right time is Deep State Plan to Capture Crypto and a monopoly to regulate. This is his video for it https://www.youtube.com/watch?v=OYQMcYCN2EA

Sound really not a conspiracy anymore but the truth since it couldn't be anything coincidental with all the politicians and connections that Bankman had networked.

Dems and Reps didn't even realize that FTX.com isn't actually under US government since it's registered in Bamahas.
He also mentioned that CZ will be more interested in FTX.US for it has Derivatives trading but they didn't offer FTX.US to CZ and so the reason for CZ to turn down the deal.

[Poker Player]

The connections are just too obvious.

You left out one part of the story, the one involving Zelenski and Ukraine in all this.

The Ukrainian government mysteriously disappeared online records of its fundraising arrangement with the FTX crypto scam just days before the scandal erupted. The initiative claims to have raised $60 million for Ukraine, but where did the money go?....

FTX pledges to “turn bitcoin into bullets, bandages and other war materiel” for Ukraine
The partnership between FTX and the Ukrainian government was first publicized on March 14th when the leading cryptocurrency website CoinDesk announced Kiev had launched a dedicated webpage for cryptocurrency donations dubbed Aid for Ukraine.

Under its auspices, FTX pledged to “convert crypto contributions to Ukraine’s war effort into fiat for deposit” at the National Bank of Kiev, allowing the embattled government to “turn bitcoin into bullets, bandages and other war materiel.” CoinDesk stated the initiative “deepens an unprecedented tie-up between public and private sector forces in crypto.”

Read more on: FTX partnership with Ukraine is latest chapter in shady Western aid saga

To all this, the left-wing, progressive biased Associated Press has been quick to deny it:

Posts spin baseless theory about FTX, Ukraine and Democrats

[franky1]

conspiracy theories are the nut fantasies wrapped in foil.. however real world events of negative impact that harm many. are found in the empty voids and empty balance sheets people spend extra effort to avoid looking deeply into or speak of
...

the whole tin foil hat "oh FTX look at the dems" is just distraction to not discuss.. wait for it DCG

for instance loads of people talk about binance liquidity (which binance quickly proven they have good status)

no one is talking about the contagion snowball
FTX->DCG->greyscale->genesis->gemini->circle


yep FTX is in the DCG portfolio. and that has had ramifications for greyscale, genesis, circle and many other exchanges also in the DCG portfolio

DCG has had some backslaps from regulators at the SEC not allowing DCG to have a ETF and so as you can see there is a big reason for news outlets like coindesk(dcg owned) and other social news outlets of crypto to sway eyes away from DCG problems and push all those problems in another direction

for instance..
binance done its due diligence and at the moment of spotting something off. sold its tokens of FTT and got out scot free.. as all investors should before the walls tumble down

however DCG did not, and they were buddy buddy with ftx

yet news is shouting about binance liquidity and democrat tin foils.. yet near absolute silence in the crypto social sphere about how DCG has got hit.. no speeches about republican endorsements  and no real talk about the liquidity "prove reserve" chant of DCG exchanges

[Marvell1]

I also just saw the news today, there are some allegations that the SBF has close ties to the Democrats and there are also rumors that the SBF has transferred billions of dollars to the Democrats. In the 2022 election, the SBF was the second-biggest supporter of President Biden's White House race with a total of $39 million. FTX's film becomes even more interesting when there are clues related to American politics, the more you watch it, the more confusing it becomes.
 

An image showing the SBF having a close relationship with former president Bill Clinton.

https://twitter.com/dankeeler/status/1519780887893790724

[franky1]

I also just saw the news today, there are some allegations that the SBF has close ties to the Democrats and there are also rumors that the SBF has transferred billions of dollars to the Democrats. In the 2022 election, the SBF was the second-biggest supporter of President Biden's White House race with a total of $39 million.

1. as with al SBF bluster about billions.. its actually far less than SBF suggests
yep he didnt donate billions (you even quoted a fair total of all pac donations to dems of $39m... a far far off number compared to "billions")

remember SBF said he was worth $32billion.. yet thats spreadsheet numbers not bank account holdings

2. there was a large amount given to republicans.. but the republicans are now distancing themselves from all SBF associations, sweeping it under the rug that no one can see or speak of

[Die_empty]

I also just saw the news today, there are some allegations that the SBF has close ties to the Democrats and there are also rumors that the SBF has transferred billions of dollars to the Democrats. In the 2022 election, the SBF was the second-biggest supporter of President Biden's White House race with a total of $39 million.

1. as with al SDB bluster about billions.. its actually far less than SBF suggests
yep he didnt donate billions (you even quoted a fair total of all pac donations to dems of $39m... a far far off number compared to "billions"

remember SBF said he was worth $32billion.. yet thats spreadsheet numbers not bank account holdings

2. there was a large amount given to republicans.. but the republicans are now distancing themselves from all SBF associations, sweeping it under the rub that no one can see or speak of

Centralized businesses and their owners always want a favor from the government of the nation. Predicting elections sometimes is very difficult, therefore these business owners make sure they sponsor leading political parties so that they can gain favor from anyone that finally gets power. I am sure this was SBF's strategy.

The alliance between top business executives and the political class makes it very easy to manipulate the world systems and the common men are left to suffer from the consequences of these actions. People have lost so much money because of the actions of these influential actors. It is becoming clearer every day that decentralization is the most potent force to counter these economic manipulative forces.

[yudi09]

The connections are just too obvious.

You left out one part of the story, the one involving Zelenski and Ukraine in all this.

The Ukrainian government mysteriously disappeared online records of its fundraising arrangement with the FTX crypto scam just days before the scandal erupted. The initiative claims to have raised $60 million for Ukraine, but where did the money go?....

FTX pledges to “turn bitcoin into bullets, bandages and other war materiel” for Ukraine
The partnership between FTX and the Ukrainian government was first publicized on March 14th when the leading cryptocurrency website CoinDesk announced Kiev had launched a dedicated webpage for cryptocurrency donations dubbed Aid for Ukraine.

Under its auspices, FTX pledged to “convert crypto contributions to Ukraine’s war effort into fiat for deposit” at the National Bank of Kiev, allowing the embattled government to “turn bitcoin into bullets, bandages and other war materiel.” CoinDesk stated the initiative “deepens an unprecedented tie-up between public and private sector forces in crypto.”

Read more on: FTX partnership with Ukraine is latest chapter in shady Western aid saga

To all this, the left-wing, progressive biased Associated Press has been quick to deny it:

Posts spin baseless theory about FTX, Ukraine and Democrats

Looks like the FTX case was planned from the start to end like this.
First, with something to do with politics. Second, because there is no intention to maintain the success obtained by the company.

There is one news from reuters.com entitled breaking views which explains several things that can generate fraud behind the failure of FTX.
Can be read here: https://www.reuters.com/breakingviews/ftx-flop-evokes-historys-great-financial-swindles-2022-11-18/

[boyptc]

I've read about this theory and it all started when they've been pointing out that Sam has been a generous donator to the democrats.

But you know that these large companies have always been closed and have their ties with any political party or individual politician to get themselves and their companies favor from these politicians.

[franky1]

FTX when it first mentioned buying out dead crypto companies.. FTX became a liquidator. where everyone knows the tactics of liduidators.

incase you dont. the game is simple

imagine a dying company has(for demo purposes)
1000coin worth $16m
but has debt of say $32m

a liquidator would buy that company for just $1m
after all on balance its at -$16m

take out the 1000coin($16m good assets = great deal 16x profit)

and then loan the dying company(on paper) maybe $3m at most
thus getting $16m assets for $4m total so far
(liquidator: +$16m assets..-$4m fiat)
(dying biz: -$35m debt +$4m fiat)

then invoice for things like consultation fee's and IT maintenance, restructuring costs,etc and other fee's amassing to a few million.
take out that few million from dying company
(liquidator: +$16m assets..-$2m fiat)
(dying biz: -$35m debt +$2m fiat)

they then either just put that company into bankruptcy to write off the debt where any creditors wanting their $32m have to share out the $2m remaining

or the liquidator keeps the dying company around for a bit
by claiming on paper that dying company still has active loan of $3m he can offset any profits of liquidater business thus paying less tax
..

FTX done this. to other businesses he "bought"

FTX then shuffled the assets he accumulated into other business3es he owned so that the assets wont appear on FTX books thus no profit thus no tax

..
where those coins are now.. well no one knows
we know he sold some to HIS customers. but remained as custodian of them.. thus  today. those customers dont have the assets(coins)

and FTX hid them away. and wanted to banktrupt his own FTX businesses to write off the debts to customers..

but now authorities are stepping in to see if he done the asset shuffle legitimately using all the tax loopholes and currency movement loopholes of tax avoidance and legal business practice.. or if he EVADED tax with his shuffle games and debt creation games which is illegal

[darkangel11]

The connections are just too obvious.

You left out one part of the story, the one involving Zelenski and Ukraine in all this.

To me it feels like he was doing it for PR and favors only, not to launder money.

SBF had a lot of money and was bored. Imagine that he knew that one day this business is going to blow up, so he was making a soft lending for himself. He didn't know that the fall will come so soon.
Had he more time he would have made even more donations and bribes to have a lot of people tied with him and a lot more places to go if things go bad.

It wasn't about democrats and republicans. It was about having as many people in your pocket as possible. I guess that's where Ukraine comes in. With all these generous donations Ukraine would treat him like Russia treats Snowden.

[NeuroticFish]

FTX made donations to the democrats.. and Republicans
i just laugh that tin hat wearers only talk about the dem donations

dems $27m
Reps $19m

Exactly this. Many big business is sponsoring both political sides to ensure support no matter what.
Thinking that FTX was caring about this or that party is just silly political manipulation.

Of course, some Democrats will say FTX is tied to Republicans and some Republicans will say that FTX is tied to Democrats.
People should really read more and from better sources.

[NotATether]

funny thing though

FTX made donations to the democrats.. and Republicans
i just laugh that tin hat wearers only talk about the dem donations

dems $27m
Reps $19m

seems we have Rep tin foil hat wearers angry that they didnt get more donations

ryan co-ceo $17m (R) American Dream Federal Action super PAC.
SBF ceo $2m (R) GMI super PAC

SBF $27m (D) Protect Our Future super PAC.

Why the fuck should they care though, about an industry most of them have labeled "a ponzi scheme", "a scam", and "a bubble"?

It's not just Reps I'm talking about it's also the Dems that heat up the story on the news.

[franky1]

Why the fuck should they care though, about an industry most of them have labeled "a ponzi scheme", "a scam", and "a bubble"?

It's not just Reps I'm talking about it's also the Dems that heat up the story on the news.

biden/trump didnt and dont care.
simple fact. they have othe things to do.
trump wanted to play golf during is presidency. biden is doing alot of hand waving and tours

what you find out is that the "government" are not sitting at computers monitoring your browser history or coffee purchases..

what you fin is that BUSINESSES monitor their customers. and only report suspect stuff to regulatory authorities..

you then learn that the regulatory authorities are not senators/congress but businesses in of themselves. selling services. either paid in government grants or by financial services in the forms of licenes

these regulators were not created from a government senators garage.. they were businesses that wanted to operate as over watch. where they lobbied/bribed senators/congress decades ago to set up these departments and fill them up with banker employees.

where banks and banker employees then lobbied congress and senators for more powers over the years

take gary grenslar
he was not a career politician. he was not a congressman or senator.. he worked for goldman sachs before becoming the top guy of the CFTC and now SEC

..
to be completely honest
looking into grenslars background
(GS mergers &acquisitions)
(MIT’s Fintech@CSAIL, MIT Media Lab Digital Currency Initiative)
he knows a bit more about crypto asset shuffling than any senators or congressman does.

so he would be good at finding all the FTX crap

my personal concern of regulatory jurisdiction over crypto is if bitcoin is deemed a commodity as it would open the floodgates of lots of other regulators getting in and limiting things..
under SEC they can only play with the market businesses

the only "conspiracy" i can think of is that bitcoin is impending on being treated as a commodity which would have put FTX in a world of pain. and so liquidating himself now was better then plodding along as long as possible

[mindrust]

It is not just that, they even funded an article that is against the use of ivermectin.

Earlier this year, the New York Times trumpeted a study that showed no benefit at all to the use of Ivermectin. It was supposed to be definitive. The study was funded by FTX. Why? Why was a crypto exchange so interested in the debunking of repurposed drugs in order to drive governments and people into the use of patented pharmaceuticals, even those like Ramdesivir that didn’t actually work? Inquiring minds would like to know.

https://www.zerohedge.com/political/covidcrypto-connection-grim-saga-ftx-sam-bankman-fried

You know who is pro-vaccination certificates, pro-lockdowns, anti-ivermectin etc. ? The democrats.

FTX/Sam is basically a democrat muppet. It is not a surprise that he donated the democrats huge amounts. I mean, he is the biggest democrat donator right after George Soros. What the fuck?

[DaveF]

It is not just that, they even funded an article that is against the use of ivermectin.

Earlier this year, the New York Times trumpeted a study that showed no benefit at all to the use of Ivermectin. It was supposed to be definitive. The study was funded by FTX. Why? Why was a crypto exchange so interested in the debunking of repurposed drugs in order to drive governments and people into the use of patented pharmaceuticals, even those like Ramdesivir that didn’t actually work? Inquiring minds would like to know.

https://www.zerohedge.com/political/covidcrypto-connection-grim-saga-ftx-sam-bankman-fried

You know who is pro-vaccination certificates, pro-lockdowns, anti-ivermectin etc. ? The democrats.

FTX/Sam is basically a democrat muppet. It is not a surprise that he donated the democrats huge amounts. I mean, he is the biggest democrat donator right after George Soros. What the fuck?

Could be worse, could be Ken Griffin / Citadel LLC who have donated $67 billion to Republicans. You remember them, they are the ones that kept trying to naked short sell GameStop and AMC after they became meme stock and then who lost most of their clients money.

Or the Yasses and Susquehanna International and their $47 billion donation to the Republicans and their massive losses.

Although to be fair Susquehanna also donated to a massive crypto PAC that donated to both sides
https://www.coindesk.com/business/2022/10/26/billionaire-quant-trader-donates-a-record-19m-of-bitcoin-to-a-super-pac/

Stones...glass houses.

Personally I would like to eliminate all political donations. But that's a topic for P&S not here.

-Dave

And don't get me stated on Uline and their mislabeled boxes rant

[348Judah]

There's no amount of theory that can change the state of the present condition with FTX and there's no amount of conversation that can reverse all the lost fortunes investors had with them, the solution lies on the present situation woth those still hanging around their asset with centralized exchanges, aren't they learning from experience? Now you will still discover some newly launched currencies and exchanges people will be going after when the mess with FTX and others of its kinds are still trending, irrespective of what transpired that led to the conspiracy, all stolen assets cannot be reversed, why not others learn from this and begin to hold their bitcoin in their own wallet and not on exchanges.

[pixie85]

funny thing though

FTX made donations to the democrats.. and Republicans
i just laugh that tin hat wearers only talk about the dem donations

All the donations to democrats were made directly by SBF while the REP donations were made by Ryan Salame, an FTX executive. We all know that SBF was giving billion dollar loans to his associates. There's a good chance the REP donation wasn't approved by him and I'm almost sure it wasn't initiated by him, otherwise he would've donated himself.

Also, the Gensler angle is sitll valid. He even had a conference call with SBF. IMO the SEC is dirty, just like FTX and the parents of SBF who were buying properties with the money he stole from the company.

All this shit happened exactly when the banks are starting CBDC tests in the US and at the same time World Economic Forum pushes for cashless transactions.
It may look like tinfoil argument to you, but SBF's father wrote a paper about cash and its role in creating tax loopholes.

SBF's father was against cash and financial freedom and SBF had the same opinion. By accident it's the opinion preached by Klaus Schwab.