Unregulated crypto currency traders funding political campaigns. What could go wrong?
News broke this week that the FTX currency exchange, similar to a Ponzi scheme, crumbled and took down the investments of millions of people.
The 30-year-old founder of FTX, Sam Bankman-Fried, who operates outside the United States, resigned Friday as the company declared bankruptcy. A caretaker CEO who helped Enron recover from bankruptcy has come in to try to usher the company through the bankruptcy process. (This is not investment advice, but if you are invested in FTX, you won’t see your investment back any time soon.)
Bankman-Fried, who conned billions of dollars out of people and transferred tens of millions of dollars to Democrat campaigns, was the Democratic Party’s second-largest donor this year, after well-known Democrat funder George Soros.
His operation was, in essence, a money-laundering scheme for Democrat campaigns. At the same time, Bankman-Fired was buying influence in Congress, as a key player in stopping the “red wave” that was to be the 2022 elections.
To help flip Alaska blue, Bankman-Fried donated $6 million to the Democrat House Majority PAC, which in turn donated $5,000, the maximum amount allowed, to the campaign of Alaska’s Democrat Congresswoman Mary Peltola.
FTX is a decentralized cryptocurrency exchange founded by the MIT graduate in 2018. It was primarily focused on derivatives, options, volatility instruments, and leveraged…
