Sam Bankman-Fried broke the crypto bank for Dems

Amidst all the cheering and gloating from Joe Biden, Chuck Schumer, and friends over the Democrats’ better-than-expected midterm election performance, comes a disturbing story that may explain something about how they won such an odd election.

Biden’s second-biggest donor, cryptocurrency billionaire prodigy Sam Bankman-Fried, aka SBF, saw his company file for bankruptcy days after the election, but not before pumping $40 million into the Democratic Party to support it for ” Get out of the vote”. ‘ and other shady ballot harvesting mechanics for the midterm elections.

The shambolic 30-year-old quant, once said to be worth $16 billion, had spent $10 million to get Joe Biden to the 2020 election.

SBF’s mother, Stanford law professor Barbara Fried, is also a co-founder of the left-wing political action committee “Mind The Gap,” which has reportedly raised $140 million to help Democrats win elections through the same “get-out-the -Vote” to win. Handle.’

You couldn’t find a more unlikely billionaire – and of course his money was built from scratch. SBF, a math genius with low social skills, was reportedly living in a “polycule” — a polyamorous relationship involving multiple people — in a luxurious penthouse with about 10 employees in the Bahamas tax haven, where his collapsed crypto exchange FTX was headquartered .

Otherwise, he slept on bean bags in his office, ate vegan fries, and, according to his own Twitter feed, took amphetamines and sleeping pills to regulate his messy sleeping habits.

Now, Reuters is reporting that between $1 billion and $2 billion in client funds have disappeared from FTX, conveniently after Democrats safely spent his money.

According to the latest report, SBF and its mysterious co-founder Gary Wang have been “held under surveillance” by Bahamian authorities after reportedly planning to flee to Dubai, according to fintech publication Cointelegraph.

Now, Reuters is reporting that between $1 billion and $2 billion in client funds have disappeared from FTX.
Future release via Getty Imag

It’s a stunning fall to earth. The financial media and big investors have hailed the young billionaire as a saint who shunned earthly pleasures like Lamborghinis and Rolexes, living only to give away all his money and make the world a better place.

He was the most famous millennial follower of a cult called “Effective Altruism,” which originated at Oxford University, found fertile ground in Silicon Valley, and now bursts into flames along with it.

EA is a disguised form of socialism because all of the “good” that’s being done happens to fit perfectly with the obsessions of the left, whether it’s climate change, social justice, justice, the meat ban or his favorite, “pandemic preparedness.”

An online video from Nas Daily this year featured a clumsy bankman-fried as a role model for young people’s altruism: “Sam isn’t a traditional billionaire because he believes in the concept of ‘earn to give.’ . . He’ll likely give away more than $10 million over the next decade. . . He wants to get rich to influence and change the world.”

Samuel Bankman-Fried saw his company FTX file for bankruptcy days after the election.
Samuel Bankman-Fried saw his company FTX file for bankruptcy days after the election.
AFP via Getty Images

SBF certainly “impacted” the midterms, funneling its millions into the Democratic National Committee and pro-democracy PACs like Protect Our Future and Guarding Against Pandemics.

He donated to committees working with Nancy Pelosi and Chuck Schumer to help Democrats win races.

He squandered his generosity on “pro-crypto-Democrats” like New York Senator Kirsten Gillibrand, who supported a bill to block the Securities and Exchange Commission from regulating the crypto market.

Sam Bankman-Fried donated to Chuck Schumer-affiliated committees to help Democrats win races.
Sam Bankman-Fried donated to Chuck Schumer-affiliated committees to help Democrats win races.
Getty Images for We, The 45 Mill

He also visited the White House and met with Biden’s top aide Steve Ricchetti on April 22 and May 12, according to the Washington Free Beacon.

No wonder the Biden administration has been weak on regulating the crypto market. It was the goose that laid the golden egg.

friends in high places

Meanwhile, the media was massaging his profile.

The FTX owner is said to have been worth $16 billion before spending $10 million to get Joe Biden to the 2020 election.
The FTX owner is said to have been worth $16 billion before spending $10 million to get Joe Biden to the 2020 election.
AFP via Getty Images

Both Forbes and Fortune had him on the cover. “The next Warren Buffett?” asked Fortuna.
No wonder the actual Warren Buffett consistently called SBF’s product, the cryptocurrency, worthless.

“It attracts a lot of charlatans,” Buffett said, “where people of less than stellar character see an opportunity to circumcise people who are trying to get rich because their neighbor is getting rich by buying this stuff that nobody’s from.” both of them understand. It will end badly.”

But what should he know.

SBF has appeared with Bill Clinton and Tony Blair at international crypto summits and with Tom Brady in glitzy TV ads and social media videos.

Larry David did a big Super Bowl ad for FTX, all aimed at getting unsuspecting Americans to lose their shirts, which was quite simply a Ponzi scheme.

“I’m all in. And you?” said the celebs.

Another “altruistic” endeavor by SBF was to support FTX, a cryptocurrency donation site launched by the Ukrainian government. There was no awakening because he didn’t score.

The sinister neo-socialists at the World Economic Forum (WEF) loved SBF so much that they made FTX a “corporate partner” – but this page on the WEF website has disappeared in the last 48 hours, leaving an error message.

Venture capital firm Sequoia was a big backer, investing over $200 million in SBF, much of which he reinvested in Sequoia, whose chairman and managing partner Michael Moritz is a big donor to the Dems as well as to the anti-Trump hate group dem Lincoln Project and is reportedly a neighbor of Nancy Pelosi in San Francisco.

Six weeks ago, Sequoia hired a freelance writer, Adam Fisher, to write a pompous article about SBF that portrays him as a “billionaire-to-be.” . . I don’t know how I know, I just do it. SBF is a winner. . . I couldn’t shake the feeling that this guy is actually as selfless as he says he is.”

The article, which was replaced by a somber note to investors on Sequoia’s website over the weekend, details how SBF got Sequoia’s partner to tell him during a Zoom meeting where he was playing the multiplayer online video game League of Legends give $1 billion.

“LOVE THIS FOUNDER,” typed one partner.

“I’m a 10 out of 10,” pinged another.

“YES SIR!!!” exclaimed a third.

‘nerd snippets’

Fisher visited Bankman-Fried in the Bahamas and described a man who doesn’t make eye contact, plays video games all day, and is constantly plugged into his computer with a headset. All of his meetings take place via Zoom – with people in the same room.

The author concludes that the FTX founder is “neurodiverse” but not “spectrum-y or Asperger-y.” SBF says he has “some ADD” and has never read a book because information should be in “a six-paragraph blog post.”

The article describes Bankman-Fried’s recruitment to the EA cult when he was a young man at MIT as “nerd-sniping,” which is “the practice of attracting intelligence by presenting problems as puzzles.”

In other words, SBF’s quantitative IQ and social ineptitude made him a prime recruit in the cause of hijacking capitalism to divert money to leftist causes.

Like Greta Thunberg, the teenage eco-evangelist, SBF has been manipulated to serve a useful purpose.

In his case, it was money made out of thin air that landed in the Democrat coffers at just the right time.

The very least the Democratic Party should do is refund the $40 million to the people ripped off by their crypto benefactor. Sam Bankman-Fried broke the crypto bank for Dems


JACLYN DIAZ is a USTimeToday U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. JACLYN DIAZ joined USTimeToday in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing

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