The fallout from the collapse of the crypto exchange FTX and its missing billions of dollars of customer funds has, finally, galvanized some members of Congress to push back against the swarms of crypto lobbyists whose activities are clearly impacting the safety and soundness of U.S. banks.
Evidence Grows that Crypto and Federally-Insured Banks Are a Combustible Mixture
Tag: Alameda Research
The Latest Digital Token Scheme from Hell: New York Fed Teams Up with Citigroup and Sullivan & Cromwell
Just two business days after the crypto exchange FTX filed for bankruptcy and headlines swirled around the world suggesting it had used its crypto token to perpetuate a massive fraud reminiscent of Madoff’s Ponzi scheme, the New York Fed thought this would be an ideal time to announce it was launching a digital token pilot with the serial fraudster, Citigroup. (See here for the unintelligible, jargonized version from the New York Fed; here for the decrypted translation from CoinDesk; and here for a sampling of Citigroup’s rap sheet.)
The Latest Digital Token Scheme from Hell: New York Fed Teams Up with Citigroup and Sullivan & Cromwell
What Is Behind Claim Joe Biden ‘Laundered’ Billions in Ukraine Aid via FTX?
What Is Behind Claim Joe Biden ‘Laundered’ Billions in Ukraine Aid via FTX?
Multiple tweets, posted between November 12-15, 2022, claim that Ukraine sent billions of dollars sourced from foreign aid to FTX, which was then sent back to the Democratic party.
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Caught in the tailwinds of the scandal, many onlookers have pointed out the links between FTX and U.S. political parties, particularly the Democrats.
Bankman-Fried’s personal contributions to the Democrats have been public knowledge for some time, and he was the subject of a Politico profile in August 2022 that described him as the “newest megadonor,” but he has also made contributions to Republicans.
He tweeted on November 5, 2022, that he was “a significant donor in both D and R primaries. Supporting constructive candidates across the aisle to prevent pandemics and bring a bipartisan climate to DC. And working with them to support permissionless finance.”
“As part of this, @rsalame7926 [FTX Executive Ryan Salame] and I signed up campaigns to accept crypto; and gave some, including millions to Senate & House Republicans.”
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Earlier this year, it was reported by The Intercept that FTX executive Ryan Salame started American Dream Federal Action, his own super PAC focused solely on electing Republicans, into which he invested millions of dollars.
Salame also contributed to the Republican Senate Leadership Fund and Congressional Leadership Fund. These donations were also reported, as per The Intercept article above, prior to the collapse of FTX.
The underlying implication among the claimants—that the Democratic Party was the sole beneficiary of donations stemming from FTX wealth—is provably false.
Related:
FTX’s SBF has made donations to Republican and Democrat parties
First, if there was any money laundering, both Democrats and Republicans were involved. Second, I don’t believe anything that Hal Turner says because he was an FBI Informant,
Ms. Cat’s Chronicles 
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