From its founding in 2017, the one-man company rose to a “partner organisation” of the WEF and second largest donor to Biden and the Democrats’ mid-term election. It has now gone bust.
by Craig Murray, craigmurray.org
The FTX story seems truly remarkable. From being founded only in 2017 it rose to be a “partner organisation” of the World Economic Forum and the second largest donor to Biden and the Democrat’s mid-term election campaign. It has now gone completely bust, taking every penny of its depositors money with it.
That is some trajectory.
I suppose it is inevitable that dodgy chancers would create derivatives markets for gambling on crypto, but I confess I had not given the matter much thought. It goes without saying that in those five years the founder of FTX had managed to take a huge personal fortune out of the company before it went bust.
FTX was a one man company belonging to Sam Bankman-Fried. The board consisted of him, an employee and the company lawyer. Over US$20 billion of investors’ funds from FTX were funneled to a fund management company, Alameda Research, also owned by Sam Bankman-Fried.
Recent Posts
‘The Siege Must Be Broken’: Countries Called to Ship Fuel to Cuba After Trump Tariffs Struck Down
Take Action Now The US Supreme Court’s ruling “implies that Trump’s recent order imposing tariffs on countries selling oil to Cuba exceeds the…
Elite Depravity in Imperial Decline, A Zero Hour Conversation With Richard Wolff
Take Action Now “The system self-selects for psychopathy… the most sociopathically obsessive competitor and accumulator of personal power and…
Economics of Health For All: The Plan to Put Health at the Heart of the Global Economy
Take Action Now At the World Health Assembly in May, member states may endorse an unprecedented strategy declaring that health is not a cost – but…
The Left Owes a Lot to Jesse Jackson
Take Action Now As a movement builder, spokesperson, and candidate for the presidency, Jesse Jackson’s accomplishments were massive. He was one of…