Sam Bankman-Fried CEO and founder of FTX declared bankruptcy days after the mid-term elections that would determine who controlled the House and Senate. His rapid rise to fame and downfall came just days after the elections. Fried who goes by SBF on Twitter wrote in a post, "I'm sorry. That's the biggest thing.
I fucked up, and should have done better."
SBF has been working behind the scenes to influence the outcome of the midterm elections. While FEC Filings have put his individual donations at around 48Million dollars, his company from the FEC Filings has donated approximately $78M. for the year 20-21. We have not researched 21-22 yet.
The majority of those donations went to the Democratic party, while significantly less went to Republican causes. Mostly to re-elect what many Republicans consider RINO's. Mitt Romney, Susan Collins, and Bill Cassidy.
"The Bahamas-based FTX was forced to file for bankruptcy after $473 million of its funds were stolen in a hack of the cryptocurrency exchange. Customers rushed to withdraw their funds, but it was too late", according to the Blaze. However sever social media posts question the "hack."
While behind the scenes, SBF was funneling money to the campaigns of members of Congress overseeing the Commodity Futures Trading Commission (CFTC), one of the key bodies tasked with regulating the crypto industry and the subject of Bankman-Fried’s aggressive lobbying, the Daily Caller reported.
A view of SBFs Twitter posts shows an entirely different scenario. In a deleted Tweet on November 7th, SBF makes a claim that a rival company was going after them by spreading rumors.
The Company in question was Binance, which set off a firestorm when it announced “due to recent revelations that have come to light” Binance would “liquidate” its holding of FTT tokens.
It appears that Binance was referring to FTX aggressive lobbying campaign to regulate the crypto industry. And courting the democrats is exactly what FTX was doing by supporting their campaigns to the tune of 70M dollars.
What a tangled web we weave when we practice to deceive. At any rate, this rapid bankruptcy to the once hailed partner of the world Economic forum, the articles which were listed, no longer appear on their website.
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