Commentary: FTX and the Root of Our Financial Crisis

Both liberal and conservative commentators, whether talking about the Great Recession, the financial collapse and bailouts of recent vintage, or now the FTX cryptocurrency Ponzi scheme, have neglected the cultural and moral reasons for these repeated episodes of economic mess and criminality. Unless those causes are addressed, all the finger pointing and proposed “solutions” will be about as helpful as putting a bandage on a tumor. 

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Disgraced Crypto Ex-CEO Was Plotting to Spend Nearly $1 Billion Boosting Dems, Reshaping American Politics: Report

Sam Bankman-Fried, former CEO of now-bankrupt crypto exchange FTX, had planned to become the biggest donor to the Democratic Party in 2024, a cycle in which he might have spent as much as $1 billion, according to investigative journalist Theodore Schleifer, writing for Puck News Wednesday.

The erstwhile billionaire filed in April, 2022, to incorporate an umbrella organization known as The Center for the Future in Delaware, according to Schleifer, citing corporate database Open Corporates. The organization intended to tackle a variety of hot-button issues ranging from pandemic preparedness to democracy reform, the foundation of which was the first salvo in a 50-year influence campaign designed to fundamentally transform American politics, Schleifer alleges, citing sources who spoke with Bankman-Fried’s aides.

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FTX Founder Funded Phoenix-Based PAC that Helped Democrats in 2022

The founder of now-defunct FTX, a cryptocurrency exchange that went bankrupt earlier this month, reportedly donated millions to a Political Action Committee (PAC) based in Phoenix. 

FTX CEO Sam Bankman-Fried reportedly donated $27 million to the Protect Our Future PAC, according to Arizona Free News. 

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