Citadel founder and CEO Ken Griffin called the collapse of FTX a ‘travesty’, calling out fraudster Sam Bankman-Fried for his grotesque connections to the US Democratic party.
You know, on the balance sheet at FTX there’s a line that says ‘Trump Lose. And Sam was the second biggest donor of the Democratic candidates.
Griffin let his statement hang openly, prompting the interviewer to ask the audience to come to its own conclusions.
Ken Griffin (Citadel Securities) on FTX, TRUMP LOSE and Democratic Party donations. pic.twitter.com/dSbZLjXrXm
— Holland Cedar Capital Management (@hollandcedarcap) November 15, 2022
Those are really, really, ugly facts when you see a fraud of this nature having played and you find no regulators were there to prevent it. That’s a really, really tough story.
Sam Bankman-Fried admitted to funnelling billions of dollars in customer funds to his own hedge fund.
Analysts connecting the dots have speculated that the exchange’s demise goes far deeper than fraud. British activist and author, Maajid Nawaz, speculates that FTX was potentially connected to Ukraine, money laundering, lockdown mandates and central bank digital currencies.
FTX was a crypto exchange that stole billions of dollars in customer deposits. Its sister hedge-fund firm, Alameda Research used customer deposits to fund high risk ventures while using its own illiquid token (FTT) as collateral. This led to an over-leveraged setup, which when hit with a liquidity crisis forced FTX to file for bankruptcy.
Sam Bankman Fried’s downfall is set to become a text-book example of financial fraud similar to Bernie Madoff’s ponzi scheme which below up the during the great financial crisis in 2008.
Join the telegram channel for updates, charts, ideas and deals.
Did you like the article? Share it!