Ignore GOP hype about the “liberal” tech industry — reckless, entitled libertarianism is what fuels Silicon Valley
Silicon Valley Bank wasn’t “woke”: Tech billionaires are just as bad as Wall Street bros
Related:
Elizabeth Warren: Silicon Valley Bank Is Gone. We Know Who Is Responsible.
Economist Michael Hudson responds to the collapse of Silicon Valley Bank, and explains the similarities with the 2008 financial crash and the savings and loan crisis of the 1980s.
Michael Hudson: Why the US banking system is breaking up
Banking Committee Chair: US Regulators Should ‘Maybe’ Ban Crypto
The senator [Sherrod Brown] also pointed to numerous incidents to back up his claims, not just the recent collapse of FTX but also issues such as “the threat to national security from Korean cyber criminals to drug trafficking and human trafficking and financing of terrorism and all the things that can come out of crypto.”
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Senator Elizabeth Warren unveiled a new bill governing cryptocurrencies earlier this month, dubbed the Digital Asset Anti-Money Laundering Act.
Warren’s bill would look to force crypto asset providers to offer audited financial statements and impose bank-like capital requirements more in line with what is expected of traditional financial institutions. The act would also give the SEC increased powers to regulate the asset class.
Get ready for the Digital Dollar!
Related:
Read More »Sam Bankman-Fried was set to testify before Congress on Tuesday, but before he could appear, he was arrested in the Bahamas. Not surprisingly, most of the charges he’s facing involve allegations of fraud related to the collapse of FTX, his crypto-trading platform. But a federal indictment unveiled Tuesday also accuses SBF—a prolific political donor who cultivated relationships with politicians and policymakers—of campaign finance violations.
The FTX Collapse Is Also a Huge Campaign Finance Scandal
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 