Tag: FTX Digital Markets

The Latest Digital Token Scheme from Hell: New York Fed Teams Up with Citigroup and Sullivan & Cromwell

Tina Marie (Ms. Cat)1 Comment

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

This Is Where Bankrupt FTX’s Money Went: $74 Million for Caribbean Real Estate; $59 Million to Politicians; Tens of Millions to Big Law, Celebrity Endorsements…

Tina Marie (Ms. Cat)

This Is Where Bankrupt FTX’s Money Went: $74 Million for Caribbean Real Estate; $59 Million to Politicians; Tens of Millions to Big Law, Celebrity Endorsements…

According to data at the Federal Election Commission, Bankman-Fried sluiced $36 million on the campaign coffers of Democrats during the latest campaign cycle. Ryan Salame, the Co-CEO of FTX Digital Markets, the Bahamian subsidiary of FTX, dumped $23 million into the campaign coffers of Republicans and a Super PAC he created to support them, American Dream Federal Action.

S.4760 was introduced by a Democrat and has both Democratic and Republican cosponsors. S.4356 was introduced by a Republican and has one Democratic cosponsor. FTX Digital Markets’ (Bahamian subsidiary of FTX) Co-CEO donated to Republicans, but all we’re hearing about is Sam Bankman-Fried’s donations to Democrats.

Screenshot from OpenSecrets
Screenshot from Ecosia search results