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FTX Laundered Billions Through Ukraine, Funneled Funds to U.S Democrats

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FTX Laundered Billions Through Ukraine, Funneled Funds to U.S Democrats

Frank Bergman

New details are emerging to reveal that recently imploded cryptocurrency exchange FTX was laundering tens of billions of dollars through Ukraine and funneling funds back to Democrats in the United States.

As Slay News has previously reported, FTX founder and CEO Sam Bankman-Fried was Democrats’ second largest donor during the midterm elections cycle this year, only coming behind George Soros.

Bankman-Fried gave at least $40 million to Democrat candidates and causes in the midterms.

 

30-year-old Bankman-Fried resigned from FTX on Friday, as the crypto exchange filed for bankruptcy.

FTX imploded after reports emerged that up to $2 billion in client funds had vanished from the company’s books in recent weeks.

According to Coin Telegraph, the disgraced former CEO is holed up at the Albany Tower in the Bahamas alongside FTX co-founder Gary Wang and the company’s director of engineering Nishad Singh.

It’s not clear if Wang, who is FTX’s Chief Technology Officer, and Singh have also resigned from their positions at the crypto trader.

A source told Coin Telegraph: “Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas.

“Which means it will be hard for them to leave.”

The same source said that Bankman-Fried is planning to escape to Dubai in the United Arab Emirates, a country with no extradition treaties, as the walls close in around him.

Now it has emerged that billions of dollars that was flowing into Ukraine was laundered through FTX and pumped back to Democrats and elites in America using cryptocurrency.

Meanwhile, all of the money has gone, FTX has imploded and filed for bankruptcy, and Bankman-Fried is on the run from authorities.

In addition to this, Daily Caller lists many of the lawmakers who Bankman Fried was bankrolling.

Interestingly, he was donating to members of Congress who oversaw the institution that was supposed to keep an eye on companies like FTX:

Sam Bankman-Fried, prolific Democratic donor and ex-CEO of now-bankrupt cryptocurrency exchange FTX, funded the campaigns of members of Congress overseeing the Commodity Futures Trading Commission (CFTC), one of the key bodies tasked with regulating the crypto industry and the subject of Bankman-Fried’s aggressive lobbying.

Bankman-Fried’s FTX is currently under investigation by the CFTC and the Securities and Exchange Commission (SEC) after Bankman-Fried allegedly moved $10 billion in client assets from his crypto exchange to his trading firm Alameda Research, and a liquidity crisis at his  exchange which prompted the company to file for bankruptcy.

However, prior to the agency’s probe, Bankman-Fried aggressively courted the CFTC – and funded several key lawmakers charged with overseeing the agency, pouring cash into their campaign coffers.

FTX also happens to be related to Ukraine.

The Washington Post reported on March 3 that Ukraine was dealing in crypto.

The Ukrainian government has gathered more than $42 million in cryptocurrency donations since Saturday, plus digital artwork including a limited edition worth roughly $200,000, according to blockchain analytics firm Elliptic.

The challenge is how the country cashes in on these assets to fund its war needs.

Then less than a week later FTX made the news for involving itself in Ukraine:

Amid the Russian invasion of Ukraine, the CEO of FTX, Sam Bankman Fried has come forward to help a crypto donation project.

He humbly announced that FTX will be supporting the Ukrainian Ministry of Finance and other communities in collecting crypto donations for the country.

The Ukrainian government has received over $60 million in crypto donations from all over the world.

FTX’s CEO, Sam Bankman Fried highlighted that the war in Ukraine has been dragging on.

The country is in full need of humanitarian help and access to global financial infrastructure. He also called attention to sanctions and crypto during this kind of situation.

He indicated that crypto exchanges should enforce sanctions announced by the government seriously.

FTX has stressed across all of its regulatory and policy efforts, active coordination and communication with regulators and policymakers is crucial to ensuring that laws and rules achieve their intended outcome, reads a letter by FTX

Pointing out the urgency to help the nation Sam Bankman announced that the