FTX founder Sam Bankman Freed was the largest donor to the Democrat Party, second to George Soros for the spurious 2022 midterms, nearly $40 million, which reportedly came from crypto donations to Ukraine.
FTX was partnered with the World Economic Forum as one of Klaus Schwab's stakeholders.
FTX's founder reportedly used a secret back door to steal over a billion dollars from the customers of the now defunct cryptocurrency exchange.
But there's more to the story than Sam Bankman Freed and a money laundering slush fund for the failing Democrat Party.
The CEO for FTX was Caroline Ellison, whose father is Glenn Ellison, head of the MIT Economics Department.
Glenn Ellison hired Gary Gensler to head the cryptocurrency department at MIT in 2018.
And in 2021, the Biden administration nominated Gary Gensler as the chair of the U.S. Securities and Exchange Commission, who has been laser-focused on gaining control of cryptocurrency.
While the SEC has been routinely combative towards cryptos, they have treated FTX like family, causing many to argue that FTX was being groomed and set up by the SEC to monopolize the crypto market.
FTX was an exchange that had a bright sheen on it.
It was led by a CEO that was often on Capitol Hill and being photographed with regulators and lawmakers.
And so there was this sense that the exchange was very buttoned up.
Cryptocurrency has the potential to strip power from the central banking system, and that makes it a major threat.
As this story unfolds, don't be surprised if this mess becomes the catalyst for government overreach into cryptocurrencies.
The journal reporting the CEO allegedly using customer money from FTX to fund risky bets at his other company, a hedge fund called Alameda.
Many people believe that this will definitely set back the crypto industry for years.
You know, this is a tale as old as time to some degree.
Some young charismatic guy in Bermuda shorts with the floppy hair that charmed the 20 best investors in the world.
Rebecca, the big question here, was this a mistake by the founders or a crime?
Well, that's a question the regulators will ultimately have to answer here.
Reporting for InfoWars, this is Greg Reese.
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