All Israel
guest column

The bizarre twists and turns of the ever-changing FTX saga

Graph showing the global fall of the FTT token on the FTX Cryptocurrency Exchange (Photo: Shutterstock)

It was just a couple of weeks ago that the shocking fall of the FTX Cryptocurrency Exchange came to light. 

Hearing about the FTX bankruptcy, paired with obvious mishandling and deceptive practices which were almost immediately disclosed, most of us came to the conclusion that behind this debacle was greed on a massive scale, the likes of which we haven’t seen since the Bernie Madoff rip-off of the century.

It wasn’t long before we began hearing about FTX CEO Sam Bankman-Fried, who represented himself not only as a crypto whiz kid but one who was driven by a philanthropic desire to give away huge fortunes to causes which would be seen as worthy, altruistic and benevolent. Such was the assessment of the drooling media, as well as the rich and famous, who were primed and predisposed to believe he was the genuine article. 

That faulty and shallow analysis worked and was ultimately responsible for the vast amount of money with which he was blindly entrusted.

Once we understood how Bankman-Fried was able to build such a towering empire so quickly – with the respect of those who thought they knew him – we began to learn that his great humanitarian and charitable aspirations were actually limited, in great part, towards propping up the U.S. Democratic Party, which benefited from funds directed towards Ukrainian war efforts that found their way circuitously through a money-laundering effort into Democratic coffers.

At least that’s what we were told. 

If you’re curious enough to do a Google search into the Ukraine-Democratic Party connection, almost every single website states that such a connection never existed. It is, in fact, within those multiple denials that suspicions are raised.

If you keep digging, you will find one particular site, which claims that “the Ukrainian government mysteriously disappeared online records of its fundraising arrangement with the FTX crypto scam just days before the scandal erupted. The initiative claims to have raised $60 million for Ukraine, but where did the money go?”

This article contains a very interesting claim, that “the demise of FTX has sent a wave of chaos through global financial markets.” But, we’ll get to that later. 

Why is this site significant? Because it verifies the existence of online records that seem to have vanished into thin air just prior to FTX’s death knell.

Yet another site, Fox News, claims the FTX CEO set up an “Aid for Ukraine” section on the company’s website to raise funds for Ukraine in the ongoing war. 

The article states that “the initiative was powered by the Ministry of Digital Transformation of Ukraine, FTX and Ukrainian web company Everstake.” 

Thus, denials of a senior Ukrainian official, who categorically refutes the money-laundering rumors, is about as believable as the blaring stories which are conveniently the first to appear, all written by the usual suspects – PolitiFact, USA Today, and AP News – denying any connection, claiming that these are simply absurd and outlandish claims.

The pièce de résistance can be found in a video of entrepreneur and full-time investor Mark Moss sharing his outline of how the FTX debacle was actually a deep state plan of the government to capture cryptocurrency. 

In his 37-minute presentation, he describes a very incestuous relationship between Bankman-Fried’s parents, both attorneys, whose legal specialty in taxes helped them come up with the idea of ending cash in order to crack down on fraud. 

As huge donors to the Democratic Party, they became “bundlers” and donated to super PACs, making them very well-connected.

Then there’s the father of Bankman-Fried’s girlfriend, Caroline, who worked under the head of the Securities and Exchange Commission but also as a professor at MIT, Bankman-Fried’s and his father’s alma mater. 

As an important footnote, FTX was a partner of the World Economic Forum, the global organization which has made no secret of its aspiration to form a one-world government. That partnership has been “scrubbed” from the WEF website, according to Moss, who claims that it, nonetheless, can be seen in their website archives. 

Then, there’s Bankman-Fried’s brother, Gabriel, who is also a player in this massive conglomerate. He created a left-leaning advocacy group called Influence Watch which “guarded against pandemics” for the purpose of supporting governmental investments into the cause of pandemics. Its sphere of influence included federal funding and regulation, all backed by FTX Cryptocurrency. 

Building their goals around pandemics, they were able to raise large amounts of money through their 501(c)3 status within a relatively short amount of time.

In short, the FTX CEO’s parents were committed to promoting a cashless society. He and his brother were either funneling money into Democratic coffers or receiving governmental funds which could then be recycled back to the Democratic Party. Conveniently, all of these individuals had ties to regulatory bodies. 

One other interesting fact is that Bankman-Fried’s aunt has ties to the WEF in her capacity as an epidemiologist.

But it gets even more complicated. Bankman-Fried endeavored to bail out other failing crypto exchanges, which Moss believes he purposely tanked in order to get rid of his competition. Accomplishing that, his goal was to impose new regulations on the crypto market since he claimed to have saved it from collapse. 

Yet, his real aim was to monopolize the industry and seize full oversight. This required aggressive lobbying and generously donating to the campaigns of key individuals who could make it happen.

In the end, Moss makes a case for the government facilitating the FTX fiasco in order to place restrictive regulations on crypto, so that no other brokers would be able to survive. Moss claims that, through the manipulation of cryptocurrency, Bankman-Fried was able to orchestrate the collapse of other crypto providers, prior to the demise of his own exchange.

So, the question is – was there a pre-arranged plan between the FTX CEO and the government to work hand in hand to take out the entire crypto industry, so that they could ultimately control everything themselves?

As of today, this is where the FTX story has led. Will it change? Will we discover some other new piece to this intricate and twisted puzzle? It’s very likely we haven’t even begun to scratch the surface. 

Either way, all roads seem to lead to insatiable greed, dirty politics and massive corruption. But then, as the wisest man who ever lived once said, “There’s nothing new under the sun.”

A former Jerusalem elementary and middle-school principal and the granddaughter of European Jews who arrived in the US before the Holocaust. Making Aliyah in 1993, she is retired and now lives in the center of the country with her husband.

Popular Articles
A message from All Israel News
Help us educate Christians on a daily basis about what is happening in Israel & the Middle East and why it matters.
For as little as $5, you can support ALL ISRAEL NEWS, a non-profit media organization that is supported by readers like you.
Latest Stories