The collapse of the world’s second largest crypto change FTX continues to be the all-dominant matter in the marketplace. There are rising voices on social media that Sam Bankman-Fried is on par with legendary fraudster Bernie Madoff.
Madoff has gone down within the historical past books for working the biggest Ponzi scheme in historical past value about $64.8 billion. He was chairman of the NASDAQ inventory change for a time and was sentenced to 150 years in jail for, amongst different issues, cash laundering and securities fraud.
Regulators in america have already opened investigations, whereas authorities within the Bahamas, the place Bankman-Fried lives in his luxurious mansion and the place FTX is headquartered, have opened a legal investigation.
For a lot of, nevertheless, this isn’t sufficient. They need justice and demand that Bankman-Fried, like Madoff, be thrown in jail as a result of they imagine he dedicated the fraud deliberately.
Under are just a few famend crypto Influencers within the house who demand jail for SBF – Dave Portnoy, Altcoin Day by day, Dylan LeClair and “Wealthy Dad Poor Dad” Robert Kiyosaki.
Emergency Press Convention – FUCK @SBF_FTX pic.twitter.com/0Gfg085gLu
— Dave Portnoy (@stoolpresidente) November 15, 2022
I hope SBF would not go to jail. 😢
— Altcoin Day by day (@AltcoinDailyio) November 9, 2022
Every single day SBF just isn’t behind bars, it turns into more and more clear he served as an asset for the the intelligence institution, used to severely stain public notion & impose overreaching rules.
The meteoric ascension. The political connections. The anti PoW stance. Fed.
— Dylan LeClair 🟠 (@DylanLeClair_) November 15, 2022
WTF:FTX largest donator to Democrats for Midterms. Kevin O’Leary & Jim Kramer raved about Sam Bankman-Fried calling him the Warren Buffet of Crypto. SBF extra like Bernie Madoff of Crypto. How way more corrupt can Silicon Valley & Hollywierd develop into? Now paying to steal elections?
— therealkiyosaki (@theRealKiyosaki) November 15, 2022
How Concerned Are Democrats & Ukraine?
Additionally, social media is at present buzzing with hypothesis about Bankman-Fried’s ties to the SEC, U.S. Democrats, and likewise connections to Ukraine. What is for certain is that SBF has poured tens of millions of {dollars} into the Democrats’ election marketing campaign.
Bankman-Fried was among the many record of the biggest donors to the midterm marketing campaign. With practically $40 million in donations, the 30-year-old was the second-largest supporter of Democrats behind George Soros ($128.5 million), touchdown in sixth place general.
Even Elon Musk commented on a tweet questioning whether or not U.S. Democrats used FTX to launder cash for the Democratic Social gathering. Musk wrote: “A query value asking”.
A query value asking
— Elon Musk (@elonmusk) November 14, 2022
The rumors are that the FTX CEO is a part of a cash laundering scheme by means of which support cash for Ukraine flowed to U.S. Democratic election campaigns through FTX.
Particularly, the U.S. allegedly transferred cash to Ukraine, and Ukraine “invested” that cash in FTX. Afterwards, FTX and Bankman-Fried forwarded the funds to the Democrats.
So Biden gave a great deal of cash to Ukraine, who gave a great deal of cash to FTX, who gave a great deal of cash to Democrats.
Feels like a doubtlessly huge scandal the media could have completely little interest in overlaying.
— Seth Dillon (@SethDillon) November 14, 2022
For this, SBF arrange a web site known as “Assist for Ukraine” in collaboration with Ukraine’s Ministry of Digital Transformation and Ukrainian net firm Everstake to just accept crypto donations for the nation amid the continued conflict with Russia.
Alex Bornyakov, Deputy Minister of Digital Transformation of Ukraine, dismissed any theories. He said through Twitter that the nation had neither used authorities funds to spend money on FTX nor donated to democratic candidates.
A fundraising crypto basis @_AidForUkraine used @FTX_Official to transform crypto donations into fiat in March. Ukraine’s gov by no means invested any funds into FTX. The entire narrative that Ukraine allegedly invested in FTX, who donated cash to Democrats is nonsense, frankly 🤦♂️
— Alex Bornyakov (@abornyakov) November 14, 2022
Investigating The Alleged Gensler–FTX Offers
In the meantime, U.S. Securities and Trade Fee chairman Gary Gensler can be being focused for entanglement. Hundreds are calling for a congressional investigation into the alleged Gensler-SBF ties, which Republican Rep. Tom Emmer pointed out final Thursday:
Fascinating. Gary Gensler runs to the media whereas experiences to my workplace allege he was serving to SBF and FTX work on authorized loopholes to acquire a regulatory monopoly. We’re wanting into this.
Practically 4,000 individuals have already signed a petition from CryptoLaw to name on Congress to analyze the actions of the SEC and Gary Gensler within the FTX fraud. The petition states, amongst different issues:
Proof has now surfaced that Gensler met with the mastermind of one of many largest frauds in American historical past, Sam Bankman-Fried, previous to the $14 billion collapse of FTX.
Members of Congress have already been knowledgeable that Gensler labored with Bankman-Fried to offer FTX a regulatory free cross whereas an enormous fraud was happening proper beneath the SEC’s nostril.
[…] It’s time for Congress to totally examine Gensler’s position in one of many largest monetary frauds in American historical past.
As Messari founder Ryan Selkis defined, the SEC was on the verge of providing aid and exemptions to FTX as a result of SBF was thought of an “grownup within the room” in DC and his household had favorable political ties to chairman Gensler.
I need to be clear about one thing:
The SEC was on the point of providing aid & exemptions for FTX as a result of SBF was thought of “an grownup within the room” in DC who mentioned the best issues, and who’s household had favorable political connections to Chair Gensler.
Asleep on the wheel. pic.twitter.com/R7CSMCAvJh
— Ryan Selkis 🥷 (@twobitidiot) November 11, 2022
