Along with Bankman-Fried, the two other founders of FTX were Gary Wang who came from Google, and Nishad Singh who came from Facebook. ALL were 28 at the time – 2019. Prior to developing FTX, Bankman was living in Hong Kong. He left Hong Kong around the same time the riots began. Bankman and many of his team members came from Jane Group, LLC having worked as interns. Others came from MIT where Bankman received his BA in Physics. NOT Finance… NOT Economics…
Holed up in a $40 million mansion in The Bahama’s, the entire FTX team of ten engaged in polymorous sharing and amphetamines. Over the course of just 2 years they somehow were able to coerce over $41 billion investor funds – and lose every dime.
Before the revelations of FTX insolvency, Binance CEO, Changpeng Zhoa, had made an offer to buy FTX. Zhoa lives in Singapore and formerly worked for Bloomberg. In September 2022, Zhoa invested $500million in Musk’s purchase of Twitter.
ALL of these parties claimed a shared altruistic philanthropy … which apparently Bankman perceived to be Biden and democrats.
In 2021, China, aka Hong Kong, banned all crypto. Then on October 31st 2022, China announced that they would allow trading to resume. November, Binance sold its entire stake in FTX coins representing 13% of the tokens. Two investors in FTX owned roughly 73% of the coins – they are ‘anonymous’.
News of the fallout and the movement of $12 billion from FTX to Bankman’s Alameda Research came less than 2 weeks after China announced they were back in the Crypto market – and less than a week before the G20 Summit with a China faceplant of Biden. Was the downing of FTX purposefully crafted?
Did China help orchestrate the FTX collapse so as to destroy Biden? Was the purpose to also out the Ukraine funds reverting back to Democrats and Rhino’s? And in so doing, did China just give Russia a thumbs up on future Ukraine funding?
In October, Blockchain, Crypto and LocalBitcoins were told by the EU and US that they were disallowed from incurring any transactions with any Russian citizen as part of sanctions packages. In contrast, Binance has yet to partake in the sanction parlay claiming they are not against any peoples –
According to investor Guru group, Seeking Alpha, the one company that is poised to profit from the FTX fallout is – Binance. Many government CBDC’s will use existing wallets such as Binance and Coindesk.
With the implosion of FTX, we are privy to the US democrats and rhino’s laundering money meant for Ukraine thru a crypto exchange, FTX, and funneling it to democrat PAC’s and Rhino Candidates while simultaneously declaring Russia may not participate in cryptocurrency exchanges…
Now, in order for the SEC to open an investigation into FTX – they will be obliged to investigate the laundering of Ukraine funds back to democrats and President Biden. This was NOT on their agenda. Another story to bury quickly much – DePape.
The Economist has declared this FTX scandal was the thorn to break ALL private crypto exchanges given they are highly subject to fraud, corruption, and money laundering… while government issued CBDC’s will be regulated like federal reserve banks which never cross the regulatory line! Self Promotion.
China has worked for 2 years trailing the CBDC concept within various cities. That would explain their case for shutting down trading of cryptocurrencies in 2021 – so as to make The Bank of China the coindesk. While BIS and the Federal Reserve are only now working their magic to introduce banking cartel currency schemes, FTX Ukraine/Democrat scandal highlights ‘the need for regulation” per the Cartel. Meaning the Cartel just pushed Biden, fellow democrats, and rhino’s such as Romney and Markowsky – under the proverbial bus… A political SHIFTING?
FTX raised capital at a valuation of $25 billion from investors including Singapore’s Temasek and Tiger Global.
Temasek is wholly owned by the government of Singapore. Pelosi made an unscheduled stop in Singapore in August before embarking on her Taiwan debacle. Tiger Global is owned by Chase Coleman III. His portfolio thru Global Tiger is heavily weighted in Facebook and Microsoft.
While it would take years before CBDC’s could potentially become the new social credit form of money – essentially under government control it will no longer fluctuate in value and simply become yet another dollar draft of worthless paper. Governments will simply manipulate the value thru trade schemes, giving them a boost in finances, while consumers are left with another form of deflation/inflation/stagnation.