The Spectacular Collapse of FTX – A Roundup
Sam Bankman-Fried, the founder of FTX, which grew to become the 2nd largest cryptocurrency exchange in the world, was accused of fraud last month when he filed for bankruptcy on behalf of FTX and his partner company, Alameda Research, a cryptocurrency trading firm. FTX is accused of using their client’s trading investments to fund Alameda Research without the client’s knowledge. Sam Bankman-Fried has so far suffered no legal consequences, although the implosion of these two companies has far-reaching implications that are far from being fully understood.
What is becoming clear is that due to the nature of major donations to a variety of political and social causes, the shadow of corruption hanging over this story will continue to be investigated for a long time to come.
It’s now been a few weeks since Sam Bankman-Fried officially filed for bankruptcy and the high-profile scandal has seemingly endless twists and turns. Powerful figures who operated in the shadows of FTX, and the flow of money from FTX to a variety of political and influential entities are central to the unraveling of this complicated story.
As expected, numerous journalists of the “alternative media” are doing a far better job digging through the dirt and putting together a clear picture for the public than their counterparts in the 24/7 corporate media world. The following pieces are long, yet fascinating, so make yourself a cup of coffee, and settle in for a wild ride:
- Sonia Elijah of Trial Site News focused on major donations from FTX to a variety of left-wing political causes, including the now-infamous TOGETHER trial that attempted to discredit Ivermectin as an effective tool to fight Covid, an organization that purports to plan for the next pandemic, and Democratic candidates.
- Revolver News published a detailed article drawing parallels between the FTX collapse and other financial scams, as well as laying out a theory for why USDT/Tether will be the next bubble to burst. Tether is what’s known as a “stablecoin” and it’s meant to be more or less tied to the US dollar.
- Mathew Crawford of Rounding the Earth Substack posted a long piece that digs into the nitty gritty details of the rise and fall of FTX, the cast of characters, the mainstream coverage of the scandal, and the dark side of where some of the money went.
This is a developing story that will likely have a long runway of coverage ahead.
One of our country’s most important freedoms is that of free speech.
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