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
Congress Must Investigate War Profiteers Once Again
Take Action Now Ninety years after the original Nye Committee exposed the arms industry’s corruption, the Pentagon and its contractors are bigger,…
Christa Pike Hospitalized in Critical Condition After Botched Execution
Take Action Now “I’ve never seen anything like what we saw Wednesday night,” said one reporter who witnessed the execution attempt.By Amy Goodman,…
Rights, Faith Groups Urge Congress to Block $2.8B Bomb Sale to Israel
Take Action Now If the Trump administration moves forward with the transfer, dozens of groups are urging lawmakers to seek a joint resolution of…
Trump’s Finger Gets Closer to Nuclear Button
Take Action Now Not that Congress caresBy Ken Klippenstein, Substack The Pentagon is “increasing [nuclear] options available to the President for…