FTX falls apart
Current Events, Just musing

FTX falls apart after millions donated to Democrats

I had to start off today with a discussion over the financial collapse of the crypto currency company FTX. In essence, it can be said that FTX falls apart after millions were donated to Democrats. But, it also looks like one significant Republican also got $2.5 million dollars from FTX just before the midterms.

With the help of a piece written by Michael W. Green for Common Sense, I spend the first part of today’s show talking about the rise of Sam Bankman-Fried, who was hailed as the next Warren Buffett. Instead, it seems he is even worse than the next Bernie Madoff. At one point managing over $32 billion dollars, now they are bankrupt and no one knows where any of the remaining money has gone. Congress seems interested in holding hearing and hopefully they do, considering how FTX seemed to be able to do whatever they wanted without any oversight or regulatory interference.

It turns out that Sam Bankman-Fried, or SBF, was the second biggest donor to Democrats in the 2022 midterms, coming in behind George Soros. SBF even suggested in the lead up to the midterms, he would likely donate up to a billion dollars on Democrat campaigns for 2024’s Presidential run. Ken Griffin, the CEO of Citadel notes the balance sheet of FTX had a line called, “Trump Lose,” and had given over $40 million dollars to Democrats.

Yet there is another wrinkle to iron out. In mid-March, Ukraine made an agreement to begin pouring money into FTX, supposedly in an effort to profit on the investments to then go toward their war effort. Now, let’s factor in the timing of Ukraine’s investment announcement. It happened two days before Biden sent $800 million dollars to them after having already sent $2 billion. As of this moment, the U.S. has given over $60 billion in assets and money to Ukraine.

How much of our taxpayer money was actually funneled through FTX by Ukraine, only to have FTX spend those millions on Democrats and Democrat causes? Did we witness one of the largest, tax-payer funded Ponzi scheme laundromat operations in our lifetime?

While she didn’t mention FTX, Representative Marjorie Taylor Greene took to the floor of the House and is demanding a full audit of monies sent to Ukraine. She asks within the context of avoiding our own border and border security if favor of supporting Ukraine’s, but the timing cannot be ignored. Taxpayers deserve transparency and deserve to see where their money is going.

Remember the $2.5 million I said went to one Republican. Turns out, just as we started today’s show, Senate Minority Leader Mitch McConnell, who demanded a vote and won another term as Leader, is that very person. With so much money being funneled into so many pockets, I’m not going to hold my breath over an audit anytime soon.

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