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FTX’s founder spent $40 million buying democratic candidates
Posted on 11/10/22 at 1:24 pm
Posted on 11/10/22 at 1:24 pm
Right behind Soros in donations.
6
Posted on 11/10/22 at 1:27 pm to flyAU
Money is speech. I though we liked that...
Posted on 11/10/22 at 1:28 pm to RedRamJam
quote:
Money is speech. I though we liked that...
He took other people’s money and donated it. Keep up.
Posted on 11/10/22 at 1:31 pm to flyAU
It was not taken over by binance, and his world is crashing down. frick him.
Posted on 11/10/22 at 1:32 pm to RedRamJam
quote:
Money is speech. I though we liked that...
You’re slow.
Posted on 11/10/22 at 1:33 pm to flyAU
quote:Yes, and? He's hopefully going to prison - but not for campaign finance violations.
He took other people’s money and donated it. Keep up.
Posted on 11/10/22 at 1:35 pm to TDTOM
he needs to be in prison
Posted on 11/10/22 at 1:35 pm to flyAU
quote:
Right behind Soros in donations.
Right behind him in the synagogue on Saturday too.
Posted on 11/10/22 at 1:37 pm to flyAU
Oy vey! What a traaaaaaagedy
Posted on 11/10/22 at 1:38 pm to Big Scrub TX
He's going to prison, he asked investors for $8 billion to cover withdrawals he doesn't have.
quote:
A person familiar with the dealings between FTX and Binance described the books as a “black hole” where it was impossible to differentiate between the assets and liabilities of FTX the exchange and those of Alameda Research. This person spoke on condition of anonymity because they weren't authorized to speak publicly about the matter.
This person said Bankman-Fried committed the “ultimate sin” by tapping into FTX's custodial assets to fund Alameda Research.
In a further illustration of FTX’s financial straits, Bankman-Fried asked his investors Wednesday for $8 billion to cover withdrawal requests, according to The Wall Street Journal, citing unnamed sources.
Posted on 11/10/22 at 1:40 pm to TigerintheNO
quote:I've been on team "crypto is stupid and it's all going to zero" for several years now, but even I continue to be amazed at these stories.
He's going to prison, he asked investors for $8 billion to cover withdrawals he doesn't have.
Literally, FTX was taking customer deposits and using them to do shite with other fake money at a sister company. I know it's unregulated, but are there NO adults in the room? Big-name investors like Sequoia have been giving these assholes billions.
Posted on 11/10/22 at 1:44 pm to Big Scrub TX
quote:
Literally, FTX was taking customer deposits and using them to do shite with other fake money at a sister company. I know it's unregulated, but are there NO adults in the room? Big-name investors like Sequoia have been giving these assholes billions.
Yep. Co-mingling of assets is a big no-no. I think Sequoia wrote down something like $150M in this FTX deal.
Posted on 11/10/22 at 1:46 pm to flyAU
More interesting:
FTX's founder, Sam Bankman-Fried's mom is Barbara Fried.
Barbara Fried is a Stanford Law School professor and a co-founder of Mind the Gap, a pro-Democratic super PAC.
SBF started FTX is May 2019, only a couple of weeks after Joe Biden announced he was running for president.
He quickly became one of the youngest Billionaires and one of Joe Biden's largest donors in 2020.
FTX is also partnered with the WEF
I feel like there's a conspiracy in there somewhere, but who knows
FTX's founder, Sam Bankman-Fried's mom is Barbara Fried.
Barbara Fried is a Stanford Law School professor and a co-founder of Mind the Gap, a pro-Democratic super PAC.
SBF started FTX is May 2019, only a couple of weeks after Joe Biden announced he was running for president.
He quickly became one of the youngest Billionaires and one of Joe Biden's largest donors in 2020.
FTX is also partnered with the WEF
I feel like there's a conspiracy in there somewhere, but who knows
Posted on 11/10/22 at 1:47 pm to flyAU
He just cares about racism and climate change you guys. He cares so damn much !!!
Posted on 11/10/22 at 1:50 pm to Greenlight
quote:ONWARD KHAZAR!
quote:
Right behind Soros in donations.
Right behind him in the synagogue on Saturday too.
Posted on 11/10/22 at 2:03 pm to umrebel2009
quote:
More interesting: FTX's founder, Sam Bankman-Fried's mom is Barbara Fried. Barbara Fried is a Stanford Law School professor and a co-founder of Mind the Gap, a pro-Democratic super PAC. SBF started FTX is May 2019, only a couple of weeks after Joe Biden announced he was running for president. He quickly became one of the youngest Billionaires and one of Joe Biden's largest donors in 2020. FTX is also partnered with the WEF I feel like there's a conspiracy in there somewhere, but who knows
Great reset connections…
Shocker
Posted on 11/10/22 at 2:10 pm to LSUAngelHere1
Wild thing is how marketing placement can add to validity in consumers minds.
I have never used FTX but love baseball. Their logo has been on the Umps uniforms every single game for quite a while. It conditions you to think it’s solid because of the prominence. These guys bought sponsorships all over sports.
I have never used FTX but love baseball. Their logo has been on the Umps uniforms every single game for quite a while. It conditions you to think it’s solid because of the prominence. These guys bought sponsorships all over sports.
Posted on 11/10/22 at 5:25 pm to flyAU
When the Chinese found out he was lobbying Democrats in the Congress they took his company out.
That $40 million in donations, cost him $25 Billion
quote:
Last weekend, CZ began complaining about SBF’s lobbying tactics and then used Binance’s might in the market to destroy his competitor.
The two of them used to be pals, you see, and this included CZ( Binance) investing in SBF’s new cryptocurrency exchange. In time, CZ decided he didn’t want to own it anymore, and, when he sold his stake in FTX, he took payment in a crypto token called FTT. Those tokens are used by customers on the FTX exchange to obtain trading discounts, but, unlike Bitcoin, are not especially liquid.
In hindsight, this was a foolish arrangement by SBF because it resulted in CZ owning a huge amount of FTT tokens, thus giving him power over FTX. It’s as if Pepsi gave Coca-Cola a big chunk of shares that Coke could sell off any time it wanted.
And that’s what happened: CZ got mad at SBF and flooded the market with loads of FTT tokens.
quote:
When the price of FTT tokens began to crater, SBF tried to defend its value by selling other assets in order to buy up the FTT tokens flooding the market—but it didn’t work, and, as the value of FTT tanked, SBF discovered his liabilities began to exceed his assets. By Tuesday, his companies were facing insolvency
quote:
It’s likely CZ did this in part because he wanted to squash a rising competitor. But part of it was personal. In recent months, regulators have been getting aggressive toward the crypto industry, and both Binance and FTX have been scrambling to stay on their good side. Amid all this, CZ came to believe SBF was whispering poison in the ears of U.S. regulators—possibly suggesting to them that CZ was tied to China—and so CZ opted for revenge.
quote:
“We gave support before, but we won’t pretend to make love after divorce. We are not against anyone. But we won’t support people who lobby against other industry players behind their backs,” CZ wrote in a fateful tweet on Sunday. Two days later, he had destroyed his rival’s company.
That $40 million in donations, cost him $25 Billion
Posted on 11/10/22 at 7:25 pm to TigerintheNO
quote:
TigerintheNO
Interesting. Hadn't seen this part.
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