Tag: FTX fraud

Guest Post by Alex Berenson

PART 1: How Marc realized FTX was a grift when (almost) no one else did

(FIRST OF TWO PARTS)

One reason last month’s collapse of the cryptocurrency exchange FTX fascinates me is that cryptocurrencies are the financial world’s version of mRNA vaccines.

Both were promoted as new, superior technologies, gifts of the Information Age.

Both made fortunes for a few lucky people, who insisted they were merely serving humanity as they raked in billions.

Both basked in media hype despite obvious red flags.

And both have had… less than perfect results.

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A few months ago, Sam Bankman-Fried, the founder of FTX, was supposedly worth $26 billion. Today he claims to be down to his last $100,000, likely the fastest loss of this level of wealth anyone has ever had.

Shed no tears for Bankman-Fried. Millions of ordinary people who put money in FTX may have lost as much as $8 billion.

(SBF, as he is known, says he wants to make those investors whole. Yet he remains ensconced in the Bahamas, instead of returning to the United States, where he might face arrest.)

Continue reading “An interview with Marc Cohodes, the investor who called the FTX/Sam Bankman-Fried collapse BEFORE it happened”

Via Mercola

Story at-a-glance

• Many have suspected that the U.S. government’s “security assistance” to Ukraine — which as of November 15, 2022, had surpassed $98 billion — is a money laundering scheme, perhaps relating to questionable activities involving American biolabs in Ukraine
• With the sudden implosion of the cryptocurrency exchange FTX, suspicions of money laundering in Ukraine are gaining fresh support
• FTX’s founder, Sam Bankman-Fried — suspected of having absconded with $1 billion to $2 billion of client funds as the exchange went belly-up in mid-November — was a top donor to the Democratic Party, second only to George Soros, and had ties to the World Economic Forum
• FTX partnered with Ukraine to help them raise funds for the war effort. Some believe the foreign aid the Ukrainian government received from the U.S. was put into FTX, which then turned around and donated money back to Democratic candidates
• An estimated $200 million were raised for Ukraine and distributed through FTX to a bank in Ukraine, but records show the Ukrainian government only used $22 million of that money. The remaining $178 million appears to have vanished, leading people to suspect it was laundered back to the United States

Many have suspected that the U.S. government’s “security assistance” to Ukraine — which as of November 15, 2022, had surpassed $98 billion^1,2 — is a money laundering scheme to somehow ensure its own security, perhaps relating to questionable activities involving American biolabs in Ukraine.

Continue reading “Is the Ukraine War a Money Laundering Scheme?”

Via ZeroHedge

He just can’t help himself: disgraced sociopath, record-breaking fraudster and prolific Democratic donor – not necessarily in that order – Sam Bankman-Fried, has issued another apology to his staff in a letter that outlined a crash in “collateral” to less than $9 billion from $60 billion.

“I didn’t mean for any of this to happen, and I would give anything to be able to go back and do things over again,” the corpulent 30-year-old who may or may not be in the Bahamas apologized yet again in the message sent to employees Tuesday, although he really should be apologizing to the millions of clients whom he wiped out. Alas, like the recurrent ramblings of a psychopath, Sam’s takeaway was that the implosion at FTX was the side-effect of an unfortunate bank run, and had nothing to do with SBF’s actions; that’s because SBF still refuses to take any responsibility for what happened and makes zero admission that the factors that led to this historic bankruptcy were in his control all along. Sam claims that he didn’t “realize the magnitude of risk.” His main remorse – like that of any pathological individual – is that he got caught.

Still don’t believe us he was a sociopath? Read this:

Continue reading “SBF Issues Another Rambling Apology And “Description Of What Happened”, Comes Off As Disturbed Sociopath”