Bought by Billions of Bucks
Who Crashes with the Crypto Crisis?
Under normal circumstances, people like myself would be unfamiliar with the details of FTX’s collapse and the $50 billion crypto debacle. This realm is not within the comfort zone of those of us who prefer tangible currency. However, the hyperbolic offshoots are just too salacious to ignore and these are not normal times. Worldcom and Enron are sandbox squabbles compared to this one. With a finger on the pulse of election integrity and COVID, join me in observing this developing saga.
Our journey starts with the curious and sudden rise of Sam Bankman-Fried (SBF to the industry), an unkempt 30 something recently promoted as the next Warren Buffet. Good thing Buffet is not in his grave, otherwise he’d be twisting and turning with this mortifying comparison. On the other hand, the Madoff family sigh of relief is almost audible as their surname fades into Ponzi scheme oblivion. Bernie’s dot matrix printouts are sophomoric in comparison to the techno language, sophisticated investment vehicles, and financial derivatives offered by FTX and its cohorts.
Next is Caroline Ellison, the Luna Lovegood wannabe and CEO of Alameda Research, FTX’s investment arm. A Harry Potter buff, Stanford graduate, and SBF’s top girl, Ellison admits being an amphetamine junkie. Among other things, she shared an 11,000 ft, 10-bedroom posh Bahamian penthouse with SBF and eight other founders. According to onlookers, the house mates were romantically intertwined. Any parent with a backbone would cancel the credit cards on these kids. Why did the big-name analysts, including Blackrock, give carte blanche to this debacle in the making?
If it were not for the millions of small investors defrauded, one could almost pity these propped up youngsters. Their ascent, hiatus, and extraordinary plunge seems orchestrated, manipulated, and rather sacrificial. The theories abound but here is an intriguing take on the situation you will not find covered as of yet:
https://tomluongo.me/2022/11/17/cryptofanfic-thoughts-on-ftx/
SBF’s parents are both Stanford professors connected to the DNC. Caroline’s father oversaw Gary Gensler, Biden’s SEC head. These associations might explain the lackluster and dubious oversight into FTX and Alameda. The current administration approved billions for war torn Ukraine, presumably for humanitarian aid, blankets, and bazookas. Instead, Zelensky and co. invested in FTX’s crypto currency. There are much more qualified sources to dissect this situation but here is a visual cliff note:
As the Miami Heat disengages from their FTX naming contract, mortified Floridians are bracing for the possible resurgence of a porn site contender. Bang Bros. was runner up to FTX and just re-submitted an arena naming privilege bid. Also affected are scholarships to the tune of $500,000 + in Broward County slated to be rescinded due to lack of funding. While these are South Florida’s concerns, the national implications of this implosion have just begun to percolate. Notably, the stream of money laundering has meandered through Congress, Ukraine, FTX, and back to DNC midterm candidates and several Republican coffers. Is anyone asking where Mark Kelly’s whopping $79MM come from?
The intense financing of what should be obvious failed races is also connected to SBF and FTX. If there is any silver lining to this debacle, it is the interruption of the money train. Had the scheme lasted a few more years, we could be contemplating this race down the road:
Wrapping up the sub-plots, Sam Bankman-Fried funded causes championing the greater good under the philosophy of effective altruism guided by his questionable moral compass. One of these was the heightened 2020 media campaign denying the therapeutic effects of HCQ and Ivermectin. One wonders if the preventable death of thousands falls into SBF’s greater good category. WHO else was behind this Dr. Evil plot?
The tentacles of this hydra are just starting to unravel. The casualty list, supporting actors, executive producers, directors and other cast of characters are still in the making. Sign up here for the next installment - I’ll write when prompted by the Holy Spirit:
I highly recommend for the full enchilada on FTX and much, much more:
Please join me in prayer.
Father God,
We enter the Courts of Heaven with the authority conferred upon us as citizens of this great nation. We confess our sincere desire to follow Your word and we ask forgiveness for our own transgressions and sins.
Father, we remind you of your purpose for America, of the Mayflower compact, of the founders Constitutional dreams and visions. Father, we are supposed to be a light to the world but we are dimmed under the oppressive corruption that permeates our country.
Father, we request Your judgement of those who would subvert our freedoms, our lives and lively hood. We beseech you to rid our land of these evil forces and designations. We ask you to command your Holy army to battle with powers and principalities over which we have no jurisdiction. Holy Spirit, release the angelic host to protect us.
We pray in the name of our Holy Savior, Jesus Christ.
Amen
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