Ho ho--ready for this?--US tax-payer funded aid to Ukraine was diverted (by Ukraine) into now bankrupt FTX scam, suckers--money (billions) GONE!

[Apollonian]

BREAKING NEWS: UKRAINE "MILITARY AID" FROM USA --- WAS INVESTED IN CRYPTO "FTX" BY UKRAINE!​

WORLD HAL TURNER 11 NOVEMBER 2022

Link: https://halturnerradioshow.com/inde...rom-usa-was-invested-in-crypto-ftx-by-ukraine

The sudden collapse of crypto exchange "FTX" and its Bankruptcy filing today, has revealed that FTX presently suffers from $10-$50 BILLION in liabilities with almost ZERO assets . . . and among those liabilities, are "investments" made by . . . . UKRAINE . . . .
At this early hour, it __appears__ that tens-of-billions in American "Military Aid" to Ukraine, which was allegedly to be used to fight Russia, was cash that Ukraine DID NOT use to fight Russia, but instead invested into FTX!
And, as you might guess from the Bankruptcy filing . . . . it now seems that all the money . . . is gone.
Yes, you read that correctly: Instead of using US Military Aid to fight Russia, Ukraine "invested" part or all of it, into FTX, and right now, it looks like all the money is gone.
Democrat Donations
Also at this early hour, it now also __appears__ that the Chief of FTX, Sam Bankman-Fried, was the #2 donor to the Democrats. He was only outspent by Soros himself!
It __seems__ Ukraine was receiving money from the US, Ukraine sent it to FTX, and FTX sent it to Democrats, who originally voted to send it to Ukraine. At this hour, it __appears__ to some observers, to be pure, criminal, money-laundering, and a criminal conspiracy to violate campaign finance laws.

It now seems to closely-watching observers that the kid (Bankman-Fried) burned his own company -- and his own ass -- just to make sure the Dems won the mid-term elections, and seems to have done it by pulling the rug out from all those that had funds there in FTX.
So the collapse of FTX is now linked not only to Ukraine, but also to US Democrat politicians who got money from Sam Bankman-Fried, to campaign for the just-ended elections!
Here. Learn:

UPDATE 6:52 AM SATURDAY --
From wiki
Sam Bankman-Fried was born in 1992 on the campus of Stanford University into a family of academics. Born and raised to an upper-middle-class Jewish family in California, he is the son of Barbara Fried and Joseph Bankman, both professors at Stanford Law School.[2] His aunt Linda P. Fried is the current dean of Columbia University Mailman School of Public Health.[15] His brother, Gabe Bankman-Fried, is a former Wall Street trader[16] and the director of the non-profit Guarding Against Pandemics.
Politics
Sam Bankman-Fried was the second-largest individual donor to Democratic causes in 2021–2022 election cycle with total donations of $39.8 million, only behind George Soros.[59][60][61] Of this, $27 million was given to Protect our Future PAC, bankrolled by Bankman-Fried.[62]

And the funniest bit of all? Who is handling the bankruptcy??? None other than Jon J Ray III who just happened to be in charge of the liquidation of….. ENRON!
Then too, there's this:

The US Securities and Exchange Commission and the Commodity Futures Trading Commission are looking into whether FTX.com mishandled customer funds. Bankman-Fried is also being investigated by the US Securities and Exchange Commission for potential violations of securities rules.

 

[Apollonian]

"FTX Isn't The Canary In The Coal-Mine, FTX Is The Coal-Mine... & It Just Collapsed"​

BY TYLER DURDEN
SUNDAY, NOV 13, 2022 - 10:00 PM
Via SchiffGold.com,

Link: https://www.zerohedge.com/crypto/ftx-isnt-canary-coal-mine-ftx-coal-mine-it-just-collapsed

Bitcoin Hodlers: Time is Running Out to Convert Nothing into Something​

Three key takeaways:

1. For weeks, the Bitcoin market has looked propped up by the whales, especially after the recent FTX disaster.
2. Bitcoin hodlers should strongly consider moving into gold, silver, or at least Ether.
3. Full disclosure, I have a complicated relationship with Crypto.

An Artificial Market​

I have specifically avoided writing about Bitcoin despite having strong opinions on the subject. Bitcoin is a very hot topic, and most people have already made up their minds. In short, I think it has zero value but that argument has been made many times before so I couldn’t add anything new to the conversation.
Full disclosure, I have been in the Crypto market since 2013 and am net positive. That said, given recent market events, I cannot sit by in good conscience without giving fair warning. This is not a Bitcoin is worthless analysis, this is a wake-up call to push people to ask what is keeping this market from imploding. FTX isn’t the canary in the coal mine (that was Celsius, or one of the other firms that crashed this year). FTX is the coal mine, and it just collapsed.
I think the data shows that this market is being propped up by whales. If the dam breaks it could send markets crashing. Back on Oct 31, before anything happened with FTX, I texted a close friend:
My new theory is that the whales are not trying to pump the price anymore. Instead, they are trying to stabilize the price to win back institutional investors. I have never seen bitcoin price volatility so low over a 6 month stretch in 10 years. It just totally stopped moving after an epic collapse back in June. No bounce, no continuation, no nothing. Just super tight price range even while the stock market has continued falling.
I was led to this thinking after watching Bitcoin crash in June to ~19k and then just hold. It spent the next few months consolidating while the bond and stock markets went into turmoil. See the chart below with the simple price of SPY overlaid on top of Bitcoin since 2021. You may notice how steady the orange line has been since June 21, directly after the Bitcoin crash below $20k.

Figure: 1 SPY vs BTC
Let’s compare the 30-day rolling annualized standard deviation between Bitcoin and the SPY. This chart shows the difference in volatility between Bitcoin and SPY. Notice how it has been collapsing in recent months, and Bitcoin was actually less volatile than the S&P for a brief period in October. Since when is Bitcoin less volatile than the S&P 500? That has quickly reversed since the FTX fiasco.

Figure: 2 Volatility/Standard Deviation
However, while price volatility is falling, trade volume is not. The next chart is the 30-day rolling average trade volume of Bitcoin compared to the price. Once again you can notice a misalignment. As volume was steadily increasing over the last several months, the price stayed in a tight range.

Figure: 3 Price and Volume
Usually, large changes in volume are accompanied by large moves in price. But in this case, volume was moving up steadily while the price stayed nearly flat. How and why was this happening?
As I alluded to above in my text to a friend, this looked like an artificial market. The market nearly collapsed back in June and then just flatlined near 20k. That doesn’t happen, especially in Bitcoin. After this past week though, I am now convinced this market is being artificially propped up. After all, 27% of the market is dominated by a super minority of less than 0.01%. They have a major vested interest in keeping this market inflated. I think the increased volume against stable price action is from whales defending the price and painting the tape.
I won’t rehash what happened with FTX this week (there are 1,000s of articles explaining the epic collapse). Instead, I will just highlight that this is a MAJOR event in the Crypto space. To Crypto, this would be like 3 Enron happenings all at once, or Enron and Madoff happening in the same weekend. This is catastrophic on every level, but the price of Bitcoin only fell by about 20%. What?!?
In the stock market over the past several weeks, companies have been reporting disappointing earnings at a frequent clip. Each company has been absolutely punished for it. Some have fallen 20% or more in a single day which is extremely rare. These are bad earnings for major corporations that still have revenue. Yet Bitcoin has its Enron + Madoff moment and the price of Bitcoin drops by the same ~20%?
No way! I am not buying it!
Step back and think about this for just a moment. Take another look at the charts above that show how the price volatility collapsed despite steadily increasing trade volume. Most importantly, look at the recent massive spike in trade volume from FTX and the relatively minor price drop. For any mathematicians who might be claiming scale and relative impact are not properly reflected, take a look at the same chart on log scale below.

Figure: 4 Price and Volume on Log Scale
Okay, this looks a little bit more reasonable… until you remember that this was Enron + Madoff! No. I am sorry, but no. The price should be down 50-70% after this event. I am convinced it will be. Think about how much Crypto money just went up in smoke. Think about the confidence lost.
Everyone keeps saying that Crypto winters come and go, and so will this one. But will the summer ever be as bright for Bitcoin? Each winter has been followed by a bigger hype train than the last one. How can the next hype train be bigger than the last one? You had EVERYTHING going for it last year. The price was screaming higher, hype was at a fever pitch, Superbowl ads, celebrity endorsements. Everything!
When this Crypto winter breaks, Bitcoin won’t recover to new all-time highs without being artificially pumped up. Who is entering the market on the next rebound that wasn’t already in the market? Institutional investors have abandoned ship and the whales are left trying to stem the tide.
Want more proof that institutional investors have left? Take a look at the GBTC Premium/Discount chart.

Figure: 5 GBTC Premium and Discount
This is easy money for institutions. If you want Bitcoin exposure, you can get exposure at a 42% discount. Why is this arbitrage not closing? Let’s make this a little fancier and adjust the price of Bitcoin by the premium/discount of GBTC.

Figure: 6 GBTC Implied Price
Notice something? Right now, GBTC is implying that the fair market price of Bitcoin is under $10k. So, who is right here? I am betting on the smart money that is unwilling to buy GBTC at a whopping 47% discount.
I get it. Bitcoin is like a religion for some people. HODL, laser eyes, Michael Saylor, blah blah. But sometimes something is just so obvious you have to get your head out of the sand. If you want true independence from the banking system and you want to reduce counterparty risk, then buy physical gold and silver. Unlike GBTC, the smart money is pillaging the Comex vaults right now while institutional investors are also paying a hefty premium for silver.
Let me guess, you still want Crypto exposure to maybe get the moonshot event. Triple up or more. Okay fine, at least buy something of value like Ether. It at least has some value. Probably not $1,200, but definitely greater than $0. It also has potential and versatility.
If it’s me, I still think about value. I wouldn’t pay $500 for a gallon of gas and I wouldn’t pay $10,000 for an ounce of gold (unless hyperinflation hits). So, at $1,200 Ether is probably overpriced. But again, at least it has value. I personally bought in the $150 range and sold too early at around $700.
Ether is far from perfect or a value investment, but it’s a better option than Bitcoin. Still, anyone who wants to exit the banking system and get value… look at physical precious metals!

My complicated history with Crypto​

Full disclosure. I have a complex relationship with Crypto. I have made more money in Crypto than gold and silver for sure. I have been bullish and bearish at different times in my life.
As a Libertarian, I heard about Bitcoin back in 2012 and told myself to spend $2,000 and buy 1,000 BTC, toss half into cold storage, and then trade the other half. Whoops. I forgot to do this because it looked complicated. Then Cyprus happened and Bitcoin shot up to $50. I didn’t want to miss the next move, so I started buying. Had a decent stack at one point. Rode it up to $1,100 and then MtGox crashed and poof went my Bitcoins. I eventually sold the bankruptcy claim to an opportunistic buyer.
I decided I needed to understand the tech to see if I should buy back in. I read everything. The Bitcoin white paper, articles, wiki pages about hashing, and how blocks are linked together. How computers compete to solve for the nonce with the correct amount of preceding 0s (this is how the algo gets harder). I looked at transactions on the actual Bitcoin blockchain to try and understand it. It started to make sense to me, so when prices came down, I would buy and then sell the rebound. Doesn’t mean I was all-in though. Back in 2020, I wrote:

I think Blockchain is a vastly overhyped technology. Blockchain removes the need for trust and eliminates counterparty risk, but the cost is enormous. Blockchain is really just a super expensive low-performance database. Not to mention, that there is nothing truly unique in the [Bitcoin] blockchain code, Bitcoin simply has first mover advantage.

I still stand by this. Blockchain is a database, just really expensive. What makes Bitcoin any different than Litecoin or Bitcoin Cash? Maybe different hashing algos or transaction speeds. But structurally, very little. I bet if you ask most Crypto fanatics, they actually understand very little about the underlying tech. There is nothing about Bitcoin that makes it special except that it came first. When you factor in the cost to mine, Bitcoin actually has a negative value.
Ethereum is different. It wants to be Web 3.0 and wants to be the world computer. Maybe it will get there, maybe it won’t. But it has a lot better chance of being worth more than $0 in 10 years. Do you know what will definitely be worth more than $0 in 10 years, 100 years, and 1,000 years? Physical gold and silver. Not a futures contract or an ETF necessarily, but physical metal you can hold in your hand.
If you are still in Bitcoin, then you are betting and hoping for the whales to continue propping up this market. But there is an avalanche of selling coming. As I said, FTX isn’t the canary in the coal mine (that was Celsius, or one of the other firms that crashed this year). FTX is the coal mine, and it just collapsed. Somehow you can still trade BTC for almost $17,000. That’s an extraordinary amount given what just happened.
If you are still hodling, I encourage you to reconsider. Buy something of actual value with that money like physical gold and silver.
There is no counterparty risk, no concern over trust, and no risk of a hacker or losing your keys. It is the best form of insurance against the turmoil that lies ahead.
If you really want Crypto exposure, at least consider Ether. Even if it is overpriced, it is worth something greater than $0.
Bitcoin is worth whatever the whales can force it to be worth, but one day soon, they might lose the capital needed to manipulate the price higher or even just keep it from crashing.
As we learned with FTX, things look fine up until the very moment they are not. And then billions can be lost in a very short time.
How much do you trust the Bitcoin whales to keep this market afloat?

 

[Apollonian]

Here's some commentary on the FTX situation fm FOX News/Watters

 

[Apollonian]

Mother Of Disgraced Crypto Billionaire Sam Bankman-Fried Is A Democratic Fundraiser Who Once Wrote Essay Blasting ‘Personal Responsibility’​

Link: http://www.madnesshub.com/2022/11/mother-of-disgraced-crypto-billionaire.html

November 19, 2022 News

The mother of former FTX CEO Sam Bankman-Fried is a law professor and Democratic fundraiser who once wrote an essay decrying “personal responsibility.”
The cryptocurrency platform filed for bankruptcy last week after users discovered that adjacent trading firm Alameda Research had allegedly been using consumer holdings from FTX to make investments. Following the incident, in which billions of customers’ dollars may have been stolen, the life of Bankman-Fried has come under scrutiny.

Barbara Fried, the mother of Bankman-Fried, is a law professor at Stanford University who has written about “questions of distributive justice” in areas such as tax policy and political theory. She also runs a political action committee called Mind the Gap, which fundraises for the Democratic Party among executives in Silicon Valley. The organization raised nearly $4 million in the most recent midterm election cycle, according to data from Open Secrets, which showed that FTX Director of Engineering Nishad Singh made a $1 million contribution.
Facebook co-founder Dustin Moskovitz and former Google CEO Eric Schmidt have also backed the organization, according to a report from Vox, which described one of the entity’s purposes as avoiding “public detection.”
Bankman-Fried himself contributed nearly $39 million to various campaigns during the recent midterm elections, with 99.6% of funds benefiting Democratic candidates, according to more data from Open Secrets, which listed him as the nation’s sixth-largest individual midterm donor. He was previously the second-largest contributor to President Joe Biden amid his successful bid for the White House.
In the days since FTX imploded, a 2013 article penned by Fried in the Boston Review claiming that the notion of personal responsibility has “ruined criminal justice and economic policy” began circulating online. “Public reactions to wrongdoing have been studied most extensively in the context of crime,” she asserted. “Researchers have found that peoples’ evaluations of serious wrongfulness vary significantly across social conditions and individuals. Tellingly, the more information people have about the context of the crime, the person who committed it, and the circumstances he or she came from, the more nuanced are their views of moral responsibility.”
Fried said that harm reduction policies are meant to “reduce future harm at a tolerable cost to all of us, wrongdoers included, by influencing wrongdoers’ future choices through rehabilitation, more carefully calibrated deterrence, and, when necessary, isolation from society.” She nevertheless insisted that her views do not “coddle criminals.”
Whether Bankman-Fried himself will spend time in prison has yet to be determined. The former billionaire is presently located in the Bahamas under supervision from law enforcement, who may transfer him to the United States for bankruptcy proceedings and questions from policymakers. The two nations signed an extradition treaty in 1990.
Joseph Bankman, the father of Bankman-Fried, also works as a law professor at Stanford University and has drafted legislation for Sen. Elizabeth Warren (D-MA), one of the most ardent skeptics of cryptocurrency in the federal government, according to a report from Fortune. Linda Fried, the aunt of Bankman-Fried, is the dean of Columbia University’s Mailman School of Public Health and a co-chair of the World Economic Forum’s Global Future Council on the Future of Human Enhancement.
John Ray III, the lawyer who is overseeing FTX amid bankruptcy proceedings, said that Bankman-Fried and his associates ran an extraordinarily mismanaged company. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” he wrote. “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
Executives may have spent corporate dollars on purchasing luxury real estate listed under their own names. Leadership at the cryptocurrency venture lacked disbursement controls “appropriate for a business enterprise,” allowing executives to “purchase homes and other personal items for employees and advisors” in the Bahamas, according to Ray.

 

[Apollonian]

Where Did Biden’s Billions Sent to Ukraine End Up?​

By Joe Hoft
Published November 27, 2022 at 2:00pm

Link: https://www.thegatewaypundit.com/2022/11/bidens-billions-sent-ukraine-end/

Where did the billions go? Biden sent billions to Ukraine but where did it end up?
Russia was not happy with Ukraine threatening to join NATA. For this and other reasons, Russia invaded Ukraine. Russia has a large army that virtually surrounded Ukraine before it invaded the smaller country.

Russia invaded Ukraine and ever since the US began sending money overseas. The war effort has not gone well for the Ukrainians as the superior Russian army has taken over large sections of Ukraine’s territory.
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From the start, Biden has pushed for money for Ukraine. This comes after the Biden family made millions in Ukraine during the Obama years. Millions of dollars when to Hunter Biden after he was placed on the board of an oil and gas company that he knew nothing about.
When an investigation started looking into his son Hunter, Joe Biden threatened not to give the small county a billion dollars if they didn’t end the investigation.

Since the war started, the US has sent more than $5o billion to Ukraine. Where has the money gone? We really don’t have any idea.
But we did get a clue recently with the fall of FTX. We learned that Ukraine was “investing” in FTX with money the US sent to Ukraine.

The big question now is how much money did US politicians send to Ukraine that made it back to their corrupt big pockets – billions, tens of billions?

 

[Apollonian]

Let The Sh*t Show Commence: Biden Admin In PANIC Mode As Ukraine Audit Nears​

By Ryan Canady | Tuesday, 29 November 2022 22:45

Link: https://www.blabber.buzz/conservati...mode-as-ukraine-audit-nears?utm_source=c-alrt




The Biden Administration is in full meltdown mode as they approach a deadline by which House Republicans will begin to audit where all Ukraine aid money is going.

Fox News reports that House Republicans say that one of the first pieces of business they will take up is auditing where all of the money earmarked for Ukraine has truly been going. The next likely Speaker, Kevin McCarthy, says his party will not continue to fund a blank check to Ukraine to support their war effort.

The results of the aid packages passed so far have been questionable, and many experts say that much of the funding is not getting to Ukraine at all.
The Republican pressure for more oversight on Ukraine funding has some bipartisan support in certain circles. However, some Ukraine supporters state that they feel that proceedings could get hijacked with this new oversight push. However, outspoken members such as Rep. Marjorie Taylor Greene say they will hold the government accountable for their spending in Ukraine.

"The taxpayers deserve to know that investment is going where it's intended to go," were the words of Colorado Representative Jason Crow when he spoke with the Washington Post.
Most lawmakers agree that the level of oversight currently in place is near enough. For example, only about 10% of the weapons sent to Ukraine are being inspected. On top of that, there are reported issues with money getting to the frontline to help Ukraine's defense.
U.K. Parliament member Tobias Ellwood stated that he feels that the United States should not pull back on its funding of the

Ukrainian defense, stating:
"If America pulls back, Putin could snatch victory from the jaws of defeat."
However, there are ways to help Ukraine while having some oversight about where the money is going.

 

[Apollonian]

BOOM! Elon Musk Alleges FTX CEO Sam Bankman-Fried Donated over $1 Billion to Democrats​

DECEMBER 05, 2022

Link: http://www.yourdestinationnow.com/2022/12/boom-elon-musk-alleges-ftx-ceo-sam.html

Sam Bankman-Fried, the CEO of FTX cryptocurrency exchange, announced in May that he would donate “north of $100 million” and up to a “soft ceiling” of $1 billionfor the Democrat candidate running against President Donald Trump in the 2024 race.
Bankman-Fried donated over $40 million to Democrats in the 2022 midterm elections.
FTX was laundering money from Ukraine and moving millions to donate to Democrats in the 2022 midterms.
It was a nifty trick by Democrats to get some easy campaign cash.
Elon Musk this week suggested that donations to Democrats were likely much larger than the $40 million declared and as high as $1 billion!
The truth is likely somewhere in between the two numbers.

The Daily Mail reported:

Elon Musk has suggested that disgraced crypto exchange billionaire Sam Bankman-Fried donated more than $1 billion to Democrats before FTX’s collapse.
Musk’s allegation, if true, would mean SBF donated significantly more than the initially reported $40 million figure to Democratic politicians, ahead of his business’s total meltdown.
On Friday, healthcare tech startup CEO Will Mandis tweeted: ‘SBF donating $40m to not go to jail for stealing $10b+ is one of the highest ROI trades of all time,’ referring to the known number in donations to Democratic politicians.
Prior to the implosion of FTX late last month – which is largely being blamed on the questionable sharing of funds between FTX and crypto trading firm Alameda Research – SBF had a close relationship with the party in power in Washington, DC.
He has testified before Congress, met with lawmakers and regulators and donated heavily to left-of-center media operations, which has led to the observation by some that his alleged crimes have been handled more gently than is appropriate by the mainstream media.
Prior to the undoing of his company, SBF pledged to give $1billion to political candidates.
It has also emerged that SBF was one of the largest Democratic donors in recent cycles, spending a reported $36 million during the last midterm election primarily via the Protect Our Future Pac.
Bankman-Fried claims he donated to both major political parties, though that his donations to the Republicans were dark, meaning publicly untraceable.

 

[Apollonian]

Here’s Why Disgraced Crypto Mogul Sam Bankman-Fried Hasn’t Been Arrested​

Link: http://www.tathasta.com/2022/12/heres-why-disgraced-crypto-mogul-sam.html

by News Kick in NEWS

Authorities are likely to conduct a lengthy investigation into former FTX CEO Sam Bankman-Fried before potentially making an arrest for any illegal actions involving his now-bankrupt companies, legal experts told the Daily Caller News Foundation.
The cryptocurrency exchange platform FTX, which filed bankruptcy along with the Bankman-Fried-founded trading house Alameda Research in November, has been accused of “fraud, dishonesty, incompetence, misconduct and mismanagement,” according to bankruptcy court records, but he has denied knowing of “any improper use of customer funds.” Authorities are likely “investigating a variety of possible charges” against Bankman-Fried, who has lived in the Bahamas where both companies are based, “ranging from wire fraud and bank fraud, to embezzlement and securities violations,” Loyola Marymount University Law Professor Laurie Levenson told the DCNF.
“I would not expect Bankman–Fried to be arrested at this point. It will be a lengthy investigation and they need to get through it before they file the charges,” Levenson said. “Then, they can arrest him, or if necessary, seek extradition. The authorities are not ready at this point to arrest him and begin a trial in the near future.”
FTX loaned billions of dollars in customers’ assets to Alameda Research to finance risky bets, an anonymous source indicated, according to The Wall Street Journal. FTX reportedly amassed $16 billion in customer assets before falling $3.1 billion in debt to creditors in the wake of its downfall, CBS News reported.

20) I was on the cover of every magazine, and FTX was the darling of Silicon Valley.
We got overconfident and careless.
— SBF (@SBF_FTX) November 16, 2022

The U.S. Securities and Exchange Commission had begun probing Bankman-Fried by Nov. 10 for possible securities law-breaking, an anonymous source told Bloomberg. A class-action lawsuit was filed in Florida against Bankman-Fried and multiple celebrities in November, claiming the celebrities’ reputations were used to trick people into an FTX “ponzi scheme,” and the cryptocurrency business BlockFi, which has since filed for bankruptcy itself, sued a holding company for Bankman-Fried in an effort to retake Robinhood shares that had been pledged as collateral, according to USA Today.

Bankman-Fried has not confessed to any legal wrongdoing, in contrast to infamous Ponzi scheme perpetrator Bernie Madoff, according to CNBC. Madoff quickly confessed to his crime and was arrested within a day of federal authorities discovering the scheme.
“From what has been reported, it would seem that for FTX, the files ranged from sloppy to non-existent,” Governors State University Associate Accounting Professor William Kresse, a fraud and identity theft expert, told the DCNF. “As such, the investigation period may be extensive. However, it appears that Mr. Bankman-Fried is comfortably ensconced in the Bahamas, and with Bahamian officials reportedly conducting their own investigations, Mr. Bankman-Fried may not be going anywhere for a while.”
Castle Island Ventures partner Nic Carter labelled it “a travesty” that Bankman-Fried was “still walking free and unencumbered, presumably able to cover his tracks and destroy evidence,” according to CNBC.
“The Bahamas clearly lack the institutional infrastructure to tackle a fraud this complex and have been completely derelict in their duty,” Carter told the outlet. “U.S. courts have obvious access points here and numerous parts of Sam’s empire touched the U.S. Every day the U.S. leaves this in the hands of the Bahamas is a lost opportunity.”

 

[Apollonian]

Interesting commentary fm int-view done w. spokesman for FTX fraud, Bankman-Fried, who was paid $15 million for his endorsement