You’ve probably been seeing headlines this week about the implosion of a company called FTX. It’s a cryptocurrency company, which means it’s some sort of Ponzi scheme. (Don’t ask me to explain cryptocurrency, cuz I can’t.)
But the collapse of FTX is extremely interesting, because it turns out that the company was heavily funding the Democrat Party, by basically laundering US taxpayer dollars through Ukraine. Huh?
Oh, and FTX funded Mitch McConnell’s Senate Leadership Fund PAC to the tune of millions of dollars, which you probably haven’t seen reported anywhere else.
While I can’t explain cryptocurrency any more than I can explain UFOs (sorry, I guess those are called UAPs these days), I’ll try to explain this scam.
FTX is run by a 30-year-old Democrat scam artist and full-time weirdo named Sam Bankman-Fried. This guy lives in a condo in the Bahamas with 12 other people in some sort of weird “throuple” relationship. Clients pour money into FTX to be invested, some sort of cryptocurrency wizardry happens, and everybody somehow makes a lot of money through this process.
Bankman-Fried just so happens to be the second-biggest donor to the Democrat Party after George Soros. He’s given something like $50 million to Democrats since 2020, and another $2.5 million to Mitch McConnell, which I’ll get to in a second.
But now the money that people had been investing in FTX has up and vanished. Billions of dollars have gone missing, and the company has filed for bankruptcy as Bankman-Fried has gone on the run from federal regulators.
And the wildness of the story doesn’t end there. As a factual matter, it turns out that FTX was all-in on Ukraine. Joe Biden and our corrupt Congress have sent something like $60 or $70 billion to Ukraine in this past year.
Bankman-Fried gave some lefty platitudes about how Ukraine needs cryptocurrency to save them from Russia, so he set up some shady opportunity of corrupt Ukraine politicians and oligarchs to invest those US taxpayer dollars in FTX. Which they did. Congress dumped tens of billions in Ukraine, and corrupt Ukrainians dumped tens of billions in FTX. And then (what a weird coincidence!) FTX turned around and donated tons of cash back to Congress. The whole thing is a money-laundering scam.
The New York Post now reports that Bankman-Fried gave at least $10 billion in clients’ money to a sister trading company called Alameda Research. That company is operated by Bankman-Fried’s girlfriend, a woman named Caroline Ellison (it’s unclear if Ellison is part of the weird 12-person throuple, or if she’s a separate girlfriend of the creepy Bankman-Fried).
The point is, the whole FTX house of cards has collapsed a la Enron, and now the cash is all gone. Since the cash is all gone, everybody is suddenly taking a much closer look at FTX. Investors who have lost their life savings on yet another scam are obviously furious, and federal regulators are likely to throw Bankman-Fried in prison before this is all over.
Here’s another weird coincidence. The corrupt comedian running Ukraine, Volodymyr Zelensky, suddenly started calling for peace a day after the news broke that FTX had imploded. You don’t suppose that the whole war was being dragged out just so corrupt Ukrainian oligarchs could take US taxpayer dollars and invest them in some flashy cryptocurrency scam that was being pushed by celebrities like Tom Brady and Larry David, do you?
That would make sense. If we keep sending them cash and they have no way to launder the cash back to Democrats via FTX, then Democrats might not want to keep sending our cash to Ukraine. Which makes me think… maybe we all owe Vladimir Putin a pat on the back if he somehow finagled this!
Anyway, we know for a fact that Bankman-Fried was donating heavily to the Democrat Party out of his personal checkbook. We know that Ukraine was laundering cash through FTX to the Democrat Party, but we don’t know which elected Democrats they were. Oh, and to hedge their bets on the whole Ukraine money-laundering scam, they gave millions of dollars to Mitch McConnell’s PAC.
I may not know how to explain cryptocurrency, but I can read a financial disclosure form submitted to the FEC. HERE is the form Mitch McConnell’s PAC filed on August 16th of this year. Click the link and scroll down to Box C, where Ryan Salame’s name appears. He’s the CEO of FTX Digital Markets. FTX gave $2.5 million to Mitch McConnell’s PAC. And now their clients’ investment money is all gone.