FTX CEO said he gave equally large donations to the GOP using dark money

@BigGame90

 I dislike partisan party nonsense and to be honest your side is much worse at offending people on a very regular basis and being confrontational so since the site has rules about being confrontational and abusive, you feel that your side gets the brunt when it is not at all true. If you abuse others anywhere on the site the odds are higher you will get in trouble for doing so.

What would be smarter for your complaints is to stop attacking, confronting and breaking the rules and then there are zero reasons to take action. 

In this thread my issue is that you are stuck on an inaccurate tangent that the DNC was at fault because they should have either returned the money or some how found out before the implosion that there were issues and that is when nobody knew...but the DNC should have known. Both concepts are pretty pathetic and making campaign contributions a partisan topic is such a stupid snoozer. If you want the DNC to return the FTX cash then we should abolish all corporate contributions, get rid of all of it and dark money and PACS and anything that persuades or motivates politicians to make decisions...get rid of every single penny of contribution. Anything else is just partisan arguing and has zero merit.

@BigGame90

I think crypto is bringing this on itself...if you do not want regulation and government involvement then have internal controls and independent crypto industry regulation, that is how you keep the government out and if you abuse citizens and lack internal controls then the government is FORCED to step in. 

FTX lacked internal controls and I would wager that 90% of all tokens and exchanges have little to no internal controls...internal controls cost money and do not bring in a return so corps do not want to do it unless they are FORCED to, history proves this over and over and will continue to do so.

FTX isnt the first implosion, wont be the last but if the industry didnt want the government involved they sure messed it up.

This ftx situation is not 100% about crypto. This involved a small US bank...

tin foil hat here...but what if the gov't wanted this to happen so they can use this as an excuse to get their controls in place? What are your thoughts on CBDC launching just a couple days after FTX bankruptcy? I believe this program was set to launch in 2023 so they released it early and with perfect timing with FTX debacle. 

@KellyM_1964

 Says the person who constantly offends and pokes and uses derogatory words to describe anyone on the right. 

Why don't you come with your own thoughts and perspectives to this forum and stop the copy paste, or the bold and highlight of copy and paste? Ya know, have an honest discussion other than poking. You use very degrading words to everyone on the right. You should really look in the mirror as you're one of the worst at offending in this politics forum. 

Bankman-Fried is Maddoff JR.... he was running a world class con with the help of many industry insiders.  It's not where the money went that should be the story, it is WHO helped him and HOW they helped him.  

VC Investors - Sequoia Cap, Tiger Global, Ontario Teachers Fund

Feeder Funds - BlockFi, Gemini, Moonstone Bank 

Regulators - CFTC, Congressional members etc.  

Bankman-Fried is the fall man.  I doubt anything else will come of it other than this helping issue in the reign of CBDC's here in the U.S.  

@BigGame90

 If that were true the free markets would have caught wind and that token would have been crushed long long ago so I do not believe there is a government conspiracy and this is not the first time financial loss has happened in crypto. If anything Mt.Gox should have shut down the entire gig years ago, that at the time was brutal and relatively worse than FTX now.

Mt Gox set the path for FTX. Mt Gox set the playbook on how FTX could operate and steal funds and hopefully get away with it. FTX had insiders leaving because of the lack of security SBF provided so this was visible from the get go. 

I agree with Kc, the main issue is who helped and how they helped. an owner of an exchange doesn't become a billionaire in the matter of a few years scrapping small fees from transactions. He becomes a billionaire by siphoning funds from clients and using it as his own. 

His bang buddy, Carolyn, and head of HIS company Alameda had a net negative $1.2 BILLION margin position at time of closing...  

@wallstreetcappers

 98% of alt coins are worthless garbage and get peddled as pump n dump. Allowing cryto to be traded with futures IMO ruined crypto. FTX is part of that problem since they allowed stupid amounts of leveraged between traders. You should not be able to trade crypto in futures. That defeats the purpose of a crypto coin. Crypto is not like the stock market. The stock market is already ruined because of derivatives (which just continue to grow at ridiculous rates), crypto is on the same path. 

logically this makes sense

 Are you referring to the CBDC that I had asked you about? This program was just launched a few weeks ago.

juicy notes:

As previously mentioned, Alameda Research was also considerably involved with Chalopin’s Deltec Bank and Trust, as were other companies tied to the FTX web of companies and Sam Bankman-Fried. These connections between the FTX web and Deltec existed at the time of Alameda’s mysterious investment into FBH Corp/Moonstone Bank. Documents produced by John Ray, the newly-appointed CEO of FTX following its bankruptcy, revealed that FTX and affiliated companies/subsidiaries had a total of 17 accounts at Deltec. Most of these accounts were associated with Alameda Research and West Realm Shires Services, both of which were ultimately controlled by Sam Bankman-Fried. Those 17 accounts were held in a variety of currencies according to reports, including US dollars, euros, Swiss francs, Canadian and Australian dollars and the British pound sterling. Rumors circulated in recent weeks that FTX’s connections to Deltec had enabled the latter to acquire Ansbacher, another Bahamas-based bank, earlier this year. However, Deltec hasvigorously denied the allegations. Deltec has also, notably, declined to comment on any details of their relationship with entities controlled by Sam Bankman-Fried or tied to FTX. The Deltec-Tether association and the Deltec-FTX/Alameda association seem to be suggestive of a pattern for the Chalopin-led Deltec. Those associations also seem suggestive as to why Chalopin would seek to acquire Farmington/Moonstone Bank from someone like Archie Chan.

https://unlimitedhangout.com/2022/12/investigative-reports/ftx-and-the-curious-history-of-farmington-state-bank/

Deltec was also minority owner/investor with notorious CIA bank CASTLE & TRUST....

@BigGame90

Regarding the futures trading, back when this was developing I made mention that it is the exact opposite thing that the industry needed and it allowed big money to manipulate and leverage which took the control and freedom away from the industry and gave it to the hedgies and banks.

My point was FTX relatively speaking was a smaller event than Gox was at the time it happened. And if anything should have shut down the industry, Gox gave more reason.

I am saying if there was a conspiracy the token would have been a way to exploit the information, so if FTX was using the government to create a conspiracy and bring regulation onto the industry it would mean that FTX was going to get wrecked and a way to take profit on that arbitrage you would short the token because it would have paid off in a HUGE way, it didnt happen so I trust the market...the free market and thus greed would have exploited this. I do not believe there was a conspiracy with the government.

I think the most functionally obtuse part of BigDame’s argument is that:

- the Dems should have caught SBF earlier, despite both parties taking his money

Meanwhile, the same GOP blowhards want to ignore the fact that Enron, the mortgage backed security collapse, and Covid-19 all happened when the GOP was in power. But no, the GOP could have done nothing to prevent those three recessions and we should actually thank them for their epic mishandling of the economy resulting in three recessions in less than two decades! 
But it is absolutely imperative that we abolish all funding to NPR, because they had tough questions and early reporting on all three scandals. (Meanwhile, Sean “Fats” Hannity and Rush Blowbaugh and the Trumps were urging people to keep their money on the markets to help their folks winning elections, despite all that recession stuff.)

Man, that damn liberal media is sooooo biased! Meanwhile Fox News has warned of us … zero … major financial crises (because they don’t have any actual reporters, just GOP ball washers). 

News flash: GOP media is all just opinion columns. No facts, just garbage.

Those of us who actually care about unbiased stories ignore what GOP media has to say, because in tough times they usually give the worst of the worst advice.

BTW, how is it that a) Dems need to scrutinize all political billionaires but b) should not scrutinize any GOP billionaires (Trump) for clear and obvious fraud (convictions!)??? Wow, what hypocrisy! 

You see, when the Dems are in power, they need to be hyperaware of every single rich, non-GOP person and anticipate every non-GOP scandal; but when they actually do that and find nuclear secrets in a certain billionaire’s bathroom of fraud in his company, then it’s suddenly a witch hunt.

Meanwhile, the GOP has turned a blind eye to the last three earth-shaking economic events and even lied to their audience to keep all their investments where they’re at (despite severe risk of major losses), and they deserve no culpability ever. In fact, anyone who dared question them are just librul media who should be attacked and defunded lol.

Rightttt ….

Truer words n'er spoke!

Why would they short their own token? Why should your own token when you can just steal customers deposits and then say "I didn't know" How would "the market" know FTX was commingling funds between FTX (customers) to Alameda Research?

Ironic timing with getting arrested and a possible testimony tomorrow...

either both share culpability or neither

Sam Bankman-Fried's eight-count indictment has just been unsealed — and includes various fraud counts, conspiracy to commit money laundering and an alleged scheme to violate campaign finance laws.

Funny that.