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Democrat mega donor defrauds clients on the scale of billions of dollars, with an implosion happening only after the midterms. Nice timing.
The crypto fraud has supporters on both sides, and, reminder, the crypto bros were salivating over Republicans taking control as they thought less regulation would be good for their “business” because those Democrats want to regulate cryptocurrencies.
If someone can explain to me how crypto is any different than the Dutch Tulip Mania of the 1600’s, I’m all ears. But until then I’ll keep my money out of it.
Scam Bankman-Fraud (SBF) was the second highest Democrat donor, shy of George Soros. He did not donate to Republicans.
So you’re wrong, the scam was a Democrat operation.
All crypto is a fraud, is the point I’m making. I also can’t square how it’s a Democrat thing with Democrat legislators who want to regulate crypto … shouldn’t they be in on the scam?
If you’re saying that Peter Thiel and Steve Bannon are running purely legit crypto operations, that’s fine. I just don’t think a quote like that will age well.
A fugitive Chinese billionaire claims this cryptocurrency will overthrow Beijing. Experts say it has the ‘hallmarks of a scam’
“ The digital token was being promoted by a global anti-Chinese government movement founded by fugitive Chinese businessman Guo Wengui and former Trump adviser Steve Bannon.”
“An ABC investigation, through analysing financial documents, private chat rooms and blockchain wallets, has unravelled a sophisticated cryptocurrency operation endorsed by Mr Guo and Mr Bannon’s political movement.
The scheme has raised alarm bells for financial crime and cryptocurrency experts, who said it had the hallmarks of a scam.“
https://www.abc.net.au/news/2022-04-18/guo-wengui-steve-bannon-back-hcoin-cryptocurrency/100991522
Peter Thiel-backed ‘crypto’ lending platform Vauld bankrupt
“ Thiel probably isn’t directly concerned that the greenback will lose its status as the world’s reserve currency, only that the deed might be done by an entity not aligned with his narrowly conservative worldview. Consider Thiel protégé Mark Zuckerberg’s (ultimately unsuccessful) efforts to create an in-house digital currency for use within Facebook, Instagram and WhatsApp. Diem theoretically could have posed a threat to the U.S. dollar’s pre-eminence, at least online, but that would be in keeping with Thiel’s advocacy for corporate power—particularly corporations run by his friends—over government control.
Thiel made his ‘maximalist’ comments in 2021, shortly before BTC’s rapid descent from its $67,000 peak began in earnest. Anyone who took Thiel’s advice to “go long” on BTC following those comments has since lost 2/3 of their investment. ”
https://coingeek.com/peter-thiel-backed-crypto-lending-platform-vauld-bankrupt/
Joe:
FTX wanted regulation for the industry so that FTX could sell legitimate securities and expand his reach to legitimate banking. He also wanted to eliminate his competition. He sided with the Democrats to push the regulation because they were the cronies who would back his plan.
You’re telling me that people give to politicians and those politicians then try to use the govt to favor the donors?
I am shocked. Get me to the fainting couch!
Spare me the “it’s only a Democrat” thing. It’s bad regardless who does it or whatever context they do it. There’s a reason that some of us want ALL campaign contributions to ALL parties to be banned.
Joe, name one other former billionaire scam donation organization, but to the Republicans.
*crickets*
Scott Rothstein, 2000’s, Florida.
https://abcnews.go.com/Blotter/scott-rothstein-50-years-12-billion-ponzi-scheme/story?id=10868086
Like I said before, remind me why allowing campaign contributions of any sort is a good idea.
“He said that FTX appeared to be run by a “very small group of inexperienced, unsophisticated and potentially compromised individuals.” I can’t wait to read about how a group like this pulled off this scam. How did they get so many people and companies to give them their money to the tune of billions?
This 100%, it’s going to be interesting if we ever find out. Either way most of that money is gone. Vanished into thin air.
It didn’t just vanish into thin air…it is in someone’s pocket strategically. $32B doesn’t just go poof…unless you are talking the Pentagon!! We do know they $40M is in the DNC. Go get it!!
Why was this kid funding research papers to deny effectiveness of Covid treatments and value of lockdowns? These biased papers were then quoted by NYT and CDC and potentially killed thousands by denying Covid treatments that are now pushed by CDC.
How can a 20 something kid fool so many people?
He’s a Democrat who pledged to give $1,000,000,000 to the Democrat party.
Whatever it took to get his team to win so that they could regulate crypto to favor himself and screw his competition.
Greed at it’s finest.