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FTX Ukraine

The allegation here is that the defunct crypto exchange FTX is integrally linked to the Democratic Party, born just a short time after Biden announced his Presidential run in 2019 (April announcement; May company founding).

Yesterday, November 11, 2022, the company filed for bankruptcy and the CEO, Sam Bankman-Fried, stepped down.

Surrounding this crash: Democrat donors, the House of Representatives, The Clinton Foundation, Obama, World Economic Fund, and Stanford (associated with MKULTRA). Add in “pandemics,” risky investment instruments (hedge funds), and a political appointee moving to a convenient spot in the private sector.

Now add the mysterious tanking of the company just around the November midterms and the disappearance of the company owner, along with more than a billion in cash.

(He did tweet that he was sorry!)

We further learn (from Reuters) that the company “had a ‘backdoor’ built into its accounting software by SBF [Bankman-Fried] which he used to move billions without triggering alerts to other staff, auditors etc.”

Bankman-Fried has left the country, either to Argentina or the Bahamas.

The platform also facilitated cryptocurrency donations to Ukraine (separate from official U.S. funding). Did these donations actually go to the Ukrainian people, or were they converted to cash then used for kickbacks?

Per the Washington Post:

“Skeptics wonder whether the focus on crypto could lead to more illicit activity — pointing out that the promise of transparency ends when it is converted into other currencies to purchase goods.”

“Pointing out the urgency to help the nation Sam Bankman announced that the FTX team is honored to support the Ukrainian Ministry of Finance in simplifying the donation process.”;;

“The website deepens an unprecedented tie-up between public and private sector forces in crypto. FTX is converting donations into fiat for deposit at the National Bank of Ukraine, a press release said. It described this relationship as a ‘first.’….The central bank is using donations to support ‘humanitarian aid programs’ as well as Ukraine’s armed forces, according to the website. ‘The people will continue their fight for freedom, but they need more ammunition and necessities,’ the website read.”

Within the U.S. government, the Commodity Futures Trading Commission regulates futures contracts for bitcoin and ethereum, the two most popular cryptocurrencies.” (Washington Post)

FTX hired the former head of the CFTC (Mark Wetjen).

FTX also donated to those members of Congress tasked with overseeing it.

“Cryptocurrency CEO and Democratic donor Sam Bankman-Fried funded the campaigns of key lawmakers overseeing the Commodity Futures Trading Commission (CFTC), the agency tasked with regulating the crypto industry, as he was lobbying the CFTC for greater oversight over the digital asset marketplace.

“Bankman-Fried donated to the chair and ranking member of the Senate Agriculture Committee, the committee that has jurisdiction over the CFTC, as well as numerous other members of Congress involved in CFTC oversight.

“The FTX CEO also spent hundreds of thousands of dollars lobbying lawmakers and the CFTC on legislation that would expand the scope of the agency’s role in regulating the crypto industry.”

Further Reading

Biden announces campaign April 25, 2019.

FTX launched May 8, 2019.

“MTG [Mind the Gap] is known for its secretive operations where it attempts to quickly gather and coordinate donations over a short time to prevent Republicans from mobilizing donors in response. The PAC is managed by Stanford Law professors Barbara Fried, Paul Brest, and researcher Graham Gottlieb….In a leaked 2019 memo, Mind the Gap refers to themselves as a collection of ‘pro bono donor advisors’ but the group and their donors are much more powerful and influential than they let on. According to the memo MTG won 10 of the 20 of races that they picked in 2018, despite most races initially being predicted as ‘lean’ or ‘likely R.’”

Guarding Against Pandemics – InfluenceWatch

“The crypto billionaire and two of his deputies poured nearly $69 million into the 2022 midterm elections. That money may have been better spent shoring up his cryptocurrency exchange, which is now facing a liquidity crunch.”

“Oops. Sam Bankman-Fried’s implosion took down Democrats’ second-biggest donor with it as the party gears up to regulate crypto”

“Another Bankman-Fried deputy, FTX’s Director of Engineering Nishad Singh, has spent $7.4 million this cycle, with most of that going to support Democrats, including roughly $2 million apiece to a pair of left-leaning super PACs: Women Vote! and SMP (Senate Majority Party).”

“The exchange’s founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried’s trading company Alameda Research, the people told Reuters.

“A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7 billion. The other said the gap was between $1 billion and $2 billion.

“While it is known that FTX moved customer funds to Alameda, the missing funds are reported here for the first time.

By Dr. Dannielle Blumenthal (Dossy). All opinions are the author’s own. Public domain.

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