A newly-elected GOP representative from New York said that he worries that Democrats will try to downplay potential campaign finance and securities law violations by former FTX CEO Sam Bankman-Fried using a lame-duck session of Congress before the new Congress is sworn in. Republican George Santos, 34, who won New York’s 3rd Congressional District flipping…
Incoming GOP Congressman Fears Democrats Will Downplay FTX Scandal, Calls for ‘Thorough’ Investigation
Federal Prosecutors Had FTX on Their Radar Months Before Collapse
Federal prosecutors from Manhattan investigated for months the now-bankrupt cryptocurrency exchange FTX in connection with a 1970 law designed to prevent money laundering, but it is unclear whether the investigation concluded prior to the firm’s recent collapse amid a liquidity crisis, according to Bloomberg Monday, citing anonymous sources. The U.S. Attorney’s Office for the Southern…
Bankrupt Crypto Exchange FTX Has Cash Balance of Over $1 Billion
November 22, 2022
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Business & MarketsCompaniescrypto collapseCrypto Exchange FTXcryptocurrencyMarketsSam Bankman-FriedUS
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Bankrupt crypto exchange FTX has a cash balance in excess of $1 billion, according to a new filing by the company. The latest tally “identifies substantially higher cash balances than the debtors were in a position to substantiate as of Wednesday, Nov. 16,” the filing states, according to Bloomberg. In total, FTX is reported to…
Sam Bankman-Fried and the Pandemic Industrial Complex
November 21, 2022
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COVIDFTXOpinionpandemic planningpandemic preparednesspandemic preventionPandemic ResponseSam Bankman-FriedViewpoints
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Commentary The collapse of Sam Bankman-Fried and his fraudulent cryptocurrency empire at FTX is news at its most entertaining. Who doesn’t love the story of a bigshot billionaire revealed to be an outright fraud? It’s black-and-white. FTX owes billions in debt and doesn’t actually own a dime of the assets it claimed. Game over. At…
FTX Scandal Exposes ‘Woke’ as the Crime Syndicate of Our Times
Commentary Move over mafia, “Lucky” Luciano, Carlo Gambino, John Gotti, et al. You or your living descendants are no longer the “capo di tutti capi” when it comes to American crime syndicates, not even close. The numbers don’t lie. (Well, they do, but in a different way.) The ideology known as “woke” has superseded you…
How Money From Gates and FTX Bought Scientific Silence
November 21, 2022
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Bill GatesCOVIDFTXGabe Bankman-FriedGates FoundationlockdownsmandatesOpinionpandemic planningpandemic preparednessPandemic ResponsePublic HealthSam Bankman-FriedViewpoints
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Commentary Looking back, it’s utterly bizarre how the world of science could have gone so silent even as the world locked down and lives were shattered by the billions by governments the world over. The silence was deafening. We went from a March 2, 2020, letter signed by 800 public health experts associated with Yale…
FTX and the Perils of Democratization of Finance
Commentary The possibilities of intentional fraud and potential international conspiracy of a web of illicit money-laundering activities cannot be ignored. But from the vantage point of this author—who was an employee of a cryptocurrency trading firm from 2018 to 2019–the downfall of FTX isn’t shocking at all. The crypto industry isn’t regulated. And despite their…
Alameda: The Firm at the Heart of FTX’s ‘Catastrophic Collapse’
November 19, 2022
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AlamedaBusiness & MarketsCompaniescryptocurrencyeconomic policiesFTXInvestmentMarketsSam Bankman-FriedUSUS News
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In late 2017, MIT alumnus Sam Bankman-Fried left the quantitative trading firm Jane Street to start his own cryptocurrency trading firm, Alameda Research. Founded prior to FTX, Alameda got its start by taking advantage of bitcoin price differentials between Japanese and U.S. exchanges, namely by buying bitcoin for a low price in the United States and selling for…
Democrat on House Financial Services Committee Hired FTX Crypto Kingpin’s Brother
November 19, 2022
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Alameda ResearchDemocrat PartyFTXGabe Bankman-FriedGabriel Bankman-FriedGary WangGuarding Against PandemicsHouse Financial Services CommitteeMaxine WatersOpinionSam Bankman-FriedSamuel Bankman-FriedSean CastenViewpoints
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Commentary A Democrat who sits on the House Financial Services Committee hired the brother of the head of the bankrupt cryptocurrency company FTX, potentially raising ethical questions. Gabe Bankman-Fried, the younger brother of FTX CEO Samuel Bankman-Fried, went to work in January 2019 for Rep. Sean Casten (D-Ill.). Casten, then a freshman congressman, was named that same…
The COVID/Crypto Connection: The Grim Saga of FTX and Sam Bankman-Fried
Commentary A series of revealing texts and tweets by Sam Bankman-Fried, the disgraced CEO of FTX, the once high-flying but now belly-up crypto exchange, had the following to say about his image as a do-gooder: it is a “dumb game we woke westerners play where we say all the right shibboleths and so everyone likes us.” Very…
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