FTX was the second largest donor to biden and DNC

~ 5 million to biden

~ 40 million to the DNC

biden and team wanted to regulate crypto, but were more than happy to take clients funds to help push their Presidential run during 2020. 

Incase you are not aware, FTX is a crypto exchange, accept they never actually purchased crypto that their clients thought they were investing in. Instead FTX and SBF (Sam Bankman-Fried) used clients funds at their own expense and donated tens of millions to political parties of the DNC with the thought of "donating" up to a billion leading up to 2024. Billions were stolen from customers funds and more recently customers bank accounts (not crypto accounts, but their actual bank accounts) were hacked. 

SBF’s mother, Stanford law professor Barbara Fried, also is co-founder of left-wing political action committee Mind The Gap, which has raised a reported $140 million to help Democrats win elections through the same “get-out-the-vote” grift.

Now Reuters is reporting that between $1 billion and $2 billion of customer funds have vanished from FTX, conveniently after the Democrats safely spent his money.

 Where are these stories on left leaning sites? Seems this is one of the rather larger stories at the moment. Or did they plan this and time it to be hidden with the mid term elections? hmmm 

Birds of a feather.

So what does this have to do with politics? So that guy was a donor and you are assuming as does that dope Musk that there will be no investigation because of that?

Here is a news flash for you, the crypto economy HATES regulation, they are even more obtuse about the purpose than some of you guys are, I find it funny how the entire complex is anti FIAT anti government anti regulation until one of them screws up and the little guy gets wacked. That is always how it goes, industry hates regulation, industry screws citizen, citizen cries out for government intervention, government gets involved. There will be regulation and this of course is not the first time a crypto has failed to install internal controls. The founder is not an accountant or an internal auditor so likely they are off doing big scale stuff while a few people around them are shielding the truth of their mistakes because the founder does not want to hear it and deal with it. 

I think this is exactly what you get when you risk with an environment that abhors regulation, has insufficient internal controls, there is no FDIC or backing of your investment so if you want that risk then you get that risk period. 

What the crap does that punk Musk have to do with this at all except crying about the Democrats like his buddy Trump does? Crypto internal controls and leverage ratios are not about politics but it will be now that they screwed up.

@wallstreetcappers

 Yes, I am saying there will be no investigation because that will expose corruption (similar to a certain laptop). Corruption perpetuated by the left. FTX just rug pulled all their inventors who kept their coins on their exchange and never moved funds to a cold storage.  This was very likely the plan all along. Destroy "crypto" (FYI FTX is an exchange, it is NOT crypto) so the govt can regulate, and track crypto. IMO

News flash FTX WANTED CRYPTO REGULATION. 

You mentioned Musk. Musk is connecting the dots. You mad bro?  

FTX wanted crypto regulation all the while they never regulated themselves. Customer deposits funds, buys crypto, FTX takes funds, hands customer an IOU (but looks like they own coins in their portfolio), FTX hides clients funds (gives DNC tens of millions with the word of going up to billions), FTX rug pulls customers stealing their money, FTX magically gets "hacked" and customers now have their bank accounts getting siphoned.

DNC was more than happy to take "donations" (aka get out of jail free for SBF) bribes while SBF bamboozled all his clients. This is a major story getting hidden behind midterms. 

If FTX had donated to the RNC, this would be blasted everywhere. 

SBF and FTX was trying to buy their way into cyypto regulation by way of the DNC. if Wallstreet has another theory, please enlighten. 

There will be an investigation, but the problem is crypto hates it and the foundation of their purpose is that this is an alternative that is BETTER than FIAT, BETTER than the government but that is silly and foolish but they lobby to keep government out. But the bigger issue stands as I stated, why do you care about an investigation? It isnt about politics at all, this enterprise does not want or need regulation or intervention it is the wild west and anyone who deposits here knows of the 100% full risk you take. This is not a regulated, restricted, controlled enterprise it is the total wild west and you might win big or lose big but its part of the anti-government allure.

The LEFT is not involved in crypto any more than the RIGHT is, in fact the anti-FIAT squad is on the RIGHT much more than the left. FTX SHOULD want regulation, there is no industry regulation at all, obviously little to no internal controls so this is the exact kind of mess that the government is FORCED into because the private sector failed, it fails all the time and when it does then the government has to get involved.

Musk needs to focus on his businesses and how to stop losing money for investors, not what political fart he can comment on and try to be in front of the media spotlight, I find his obvious political biases and whining to be cute, way to go Musk your blabberings will change everything!

@wallstreetcappers

 So dems take money from FTX (republicans were also on the donation side, however DNC was alotttt more. Are they going to return those funds, afterall, they were never profits from FTX, they were literally clients funds) and then claim that crypto needs regulation because of this situation?!   We'll steal your money and then tell you we can fix it so it doesn't happen again 

Seems like CA and the forest fires. CA dems- lets never clean the forest, let's let arsonists start fires so CA can burn and then say the fires are because of climate change? 

The left- breaking perfectly good toys so they can buy a new one. 

WASHINGTON (Reuters 2008) - Lehman Brothers Holdings Inc is a big player in donating to political campaigns, which could be a plus if the struggling investment bank needs federal help, said a watchdog group on Thursday.

Both presidential candidates have gotten a lot of money from Lehman employees -- Democratic candidate Barack Obama to the tune of at least $370,000, and Republican John McCain, $117,000 

The FTX Foundation -- and other related nonprofits mostly funded by Bankman-Fried and other top FTX executives – says it has donated $190 million to numerous causes. Earlier this year, the foundation's Future Fund announced plans to donate an additional $100 million, with hopes of donating up to $1 billion in 2022.

Funny how $370,000 in 2008 was a big plus and now what does up to a billion in 2022 have to do with politics.

Yeah all businesses angle for the party in power, these comments are so partisan and lame it is not even worth replying. The company is lobbying for their own interests, it happens in every industry in every state why are you acting like this is some GOP lightbulb discovery?

Should I be ticked off that Northrop and Raytheon like GOP in control vs DEM? No its pretty freaking obvious why corps do what they do.

SBF and FTX donated to the DNC prior to 2020 election. But thanks for your comments. GOP did not receive any "donations" prior to the 2020 election.

I wasn't trying to make this a GOP discovery (the GOP received donations from FTX as well, but that was after the 2020 election).

I guess SBFs mom has nothing to do with politics either, right?

You only see partisan when it goes against the left. Pretty lame "moderator"

I dont see partisan, it is your thread and you got the idea from another conservative. It might be different if the entire complex you are referring to wasnt completely against everything you are suggesting. Crypto is anti-regulation, anti-government. It does not mean that PEOPLE associated are not affiliated with a political party, but can you tell me how many in depth investigations have taken place with previous crypto implosions?

The real issue is that crypto needs regulation and if any funds which come from a common citizen, it forces the government into the mix. I do think it is 100% buyer beware on ANY crypto, so the fact there arent internal controls is part of the risk profile for putting your money into the enterprise in the first place. 

Imagine Trump's 2nd biggest donor destroying so many people's investments?? 

Nothing to see hear folks. 

@wallstreetcappers

I did not get this thread idea from another conservative. I am connecting the dots of where the ill gotten gains were dispersed and the DNC just happened to be the beneficiary of stolen assets.

 FTX is not crypto. FTX is an exchange (FTX has a token called FTT which has plummeted similar to LUNA). An exchange that did not have a correct balance sheet which caused a rush of withdraws.

Leftist mega-donor Sam Bankman–Fried was detained in the Bahamas following reports that his now-bankrupt cryptocurrency company, FTX, may have laundered Ukrainian relief money from U.S. taxpayers and redirected it back to Democrat campaigns.

Bankman–Fried, FTX director of engineering Nishad Singh and co-founder Gary Wang were “under supervision” after trying to flee to Dubai, the Post Millennial reported.

FTX, which was launched in 2019 and had garnered millions of users by 2022, is now under investigation by the government.

According to the Daily Wire, there was a sudden spike in withdrawal requests after a viral article that revealed incorrect balance sheets.

Bankman–Fried, 30, went from an estimated net worth of $15.6 billion to having nothing in two days. Last week, he resigned from the company and issued an apology for his actions.

He was the Democrat’s second largest donor in the 2022 election cycle—after George Soros—giving a minimum of $38 million to leftist causes and super PACs such as Protect Our Future, House Majority, and Justice Unites Us.

Over the course of the last year, President Joe Biden and his cohort of Democrat colleagues have given Ukraine over $50 billion of funding using money from American taxpayers.

FTX volunteered to process donations to Ukraine using its cryptocurrency as infrastructure, even launching a new donation website.

It is unclear how much of that money actually made it to Ukraine, as it is clear the group spent nearly $40 million in support of Democrat campaigns in the states, according to America First Report.

Bankman–Fried made a statement earlier this year making it clear that he is willing to spend obscene amounts of money to help Dems make it into the White House again in 2024.

Out of the $40 million the young CEO donated to to political candidates for the 2022 midterm elections, only $235,200 went to Republicans.

Among the group who received campaign contributions was Sen.-elect John Fetterman, D-Pa.

The company even pushed for donations on their website, claiming the money went to support “humanitarian aid programs” and Ukraine’s armed forces.

It was revealed that FTX had reached out to partner with the embattled country days after Biden pledged billions of taxpayer funds to the country.

https://headlineusa.com/ftx-founder-donated-millions-dems/

Amazing how emotional Lefties get when Elon Musk is brought up! It is rumored Tom Brady lost millions in the Lefty con game!

@UNIMAN

That is 100% risk from investing in crypto, you can lose every cent and have zero recourse. If that is not understood then the user did not read the terms to which they agreed.

Tom Brady lost money, Tom Brady is a friend of Trump, so Trump is to blame right? I love the logic here...so well thought out and reasonable.

@BigGame90

 I know the connection, I have that exchange as one of my tabs on my liberal based web browser, but without the token there is no exchange or entity.

This is a sports gambling website. Tom Brady is arguably the greatest QB in NFL history. TB is 'rumored' to have lost millions in the very shady and Lefty driven company called FTX. Just a statement Wall. Nothing more and nothing less. Did I mention Trump? I did not. The link below is a 4 minute and change cliff note version of people in high places linked to FTX. Enjoy the link! BTW  Are they still counting illegal ballots in AZ for SOS Hobbs?

CEO of FTX is Daughter of SEC Head's Former Boss (banned.video)

@sundance

 I didnt reply to your message about Musk, I was typing it the same time as you were, I was using the squishy logic being used here and what you are using in your reply. FTX has nothing to do with politics, if there is prosecution or not has nothing to do with politics. The CYA people agree to when they sign up to use the exchange and purchase any crypto pretty much secures these entities to any legal issues. The full risk of investing in any of these type of enterprises is borne by the person who agrees to the terms, even if the guy intentionally defrauded the risk is on the person who agrees to the terms. Its lousy for sure but the fact crypto is completely and strongly anti-regulation has kept me from buying ANY tokens and if I were to purchase BTC or ETH I have a stand alone drive where I would hold them, it would NOT be on an exchange even Coinbase, the risk is too high of 100% loss, so I would rather lose because I forgot a password than some hack or some coder deciding to allow massive leverage to make profits.

I hope Hobbs wins, she has a history of solid service in the government, whereas that clown Lake does not and wants to bash her way to being in a position, the fact she didnt win by 5 pts shows how toxic the GOP biased state is towards her angry ranting crazy tirades. If she had been reasonable and respectful she might have won easily, what I am noticing is the fringe extremists who want to hate are not doing well, the SOS got beat, Masters the attacker lost, Lake should have walked in but is struggling. I hope this turns the tide away from angry blame finger pointing election conspiracy approach to more of the roots of what the GOP USED to represent. 

Lake is brutal...just one of the worst candidates Ive ever seen, but not the complete worst.

@wallstreetcappers

 So democrats just accept money from donors and never do their DD into who's paying that money or where that money is coming from? You know, because they don't want to be associated with a terrorist org.0 or criminal entity. Better to vet where that money is coming from so you don't get stuck in this kind of situation. Maybe the money was too much that they didn't care where it was coming from. I mean, FTX was the second largest donor to the DNC, surely they had to have known FTX was a scam from the get go. FTX couldn't provide a proper balance sheet showing their securities were backed with something other than an IOU.    Dems just turned a blind eye and could have been protecting FTX the whole time (ya know, because there might be a billion coming their way like SBF stated). Pretty easy way to siphon money when you have an exchange in your back pocket. Especially if FTX helped facilitate funds that should have been sent to Ukraine (that's US citizens tax dollars). So, ya, this might have a lot to do with politics. The story is so fresh, you can not say politics is not involved right now. There are quite a few political connections with this fresh story. Great timing as well. Right when mid terms are in full effect. Provides a great cover since this isn't a 7pm Friday news drop and by Saturday the story is forgotten.  

I don't think there's any legal terms that will support what FTX did to their customers/ investors. I'm not a lawyer and I haven't read all the legal papers, but I highly doubt FTX was running their books and business based on their legal papers. Yes, if you don't have your keys to your crypto, you don't actually own your crypto. 

Govt wants their hands on crypto "coins" so they can track where you spend your money and can instantly take your money if you owe them. So this might have everything to do with politics. 

@BigGame90

 How would a DEM or a REPUB do a DD for a company that would require an internal auditor to uncover? It isnt like since it was a DEM that there was known information and they intentionally tried to take a donation KNOWING that there would be an uncovered fraud...you have to be kidding with some of the things you say. Of course donations are taken and reasonable research is done...why the need to throw in the terrorist comment? What do you say about politicians and a certain family taking a huge chunk from the Saudi's and keeping connected to them over the years?

The reality is you cannot throw around this partisan nonsense, no party is innocent and conspiracy garbage is a waste of time.

@wallstreetcappers

 If the tables were turned, and the republicans had FTX as their second largest donor, you know damn well you and the other few posters in here would be all over them for taking that money. You just choose to attack because this is about the dems taking that money without proper DD into FTX. Binance was able to see how shoddy this company was just looking at a balance sheet and realized FTX customers held billions worth of BTC and ETH and FTX had literally 0 holdings for each coin. Come on man. Just because the heat is on the side you favor (talk about being partisan here) you attack because you really want this thread in the box. 

The dems wanted to track everyone who got the vax, you think it's too much for them to ask to see FTXs books to make sure they are not taking ill gotten money? It's not and they did not because the dollar amount was too much. Dems got bamboozled all the while making off with customers money. Customers who just watched all their money get moved to another wallet a few hours ago. Maybe if the dems would have ran a check, they could have prevented this whole mess. Or maybe they knew, but didn't care. Look, this is all IMO which is what these threads are for, right? To create discussion. 

Are the Saudis committing fraud that you can prove? If so, then I would highly disagree with anyone taking money from them. I will not support LIV golf form my assumptions. FTX just committed securities fraud, that's becoming proven and it didn't really take much work to uncover. 

No party is innocent to an extent, I agree. But in this FTX situation, this could have been uncovered way before this past week and the dems could have been the savor, but they choose not too. Too many connections. Why did SBF say he would be donating up to a billion to the DNC? Come on, you know if the dems are getting that much in donation, they have to know how that money was acquired. 

Sorry but no I am not following you down the rabbit hole with your conspiracy theories. I think both sides are dirty, both protect their interests but in this case there is no way DD could have uncovered what was going on.

I think you gotta drop the protect the Saudis stuff, it is a black hole you cannot get out of. The Bush clan has tied themselves to the Saudis and taken a ton of money, no reason to try and hide the fact that your party is just as dirty as the other, why waste time making partisan patty cakes its so stupid.

Wrong. All binance had to do was look at their balance see. Realized customers held billions worth of BTC and ETH and FTX siphoned that money to Alameda Research and gave their customers an "IOU bro" just please don't ever cash out. Not that difficult to find, esp for the govt. Get real.

You brought up Musk and Saudis. Not I, so you can drop that. This thread was never intended for those names. Feel free to start a thread about them since I know you love Musk so much.

This could have been calculated by both sides, feel free to give your opinion on how that can be. I'm just stating facts from the situation. Do you find it ironic that the fed and banks are starting a digital dollar project now? Odd timing, no?

I think you are mixing two things, I said there is no way the DNC could have found out that the company was cooking the books and about to get exposed, so the DD I am mentioning is that reasonable surface DD is done for sure but the DNC and RNC are not going to hire internal auditors or industry experts to probe into the liquidity ratios and leverage and co-mingling from subsidiary to subsidiary, that is just silly talk. Binance is 100% a different situation they were considering BAILING them out. That situation gave them full access to the books where the DNC did not have access to anything outside of what you and I could find out just basic things. To find out internal information like liquidity ratios and leverage ratios that would require either the company allowing OR a court order, so how often do the DNC or RNC get court orders to verify the financial health of a donor? 

If this were so easy to find out the token would have been crushed long long ago, it is not easy and Binance would not have even considered had they known the truth which they ONLY found out when FTX opened everything because they needed the cash.