Sam Bankman-Fried, the now discredited CEO of FTX (which declared bankruptcy on Friday), had funneled tens of millions of dollars to Dem candidates in the mid-term elections (including John Fetterman who narrowly "won" over Oz). As CNBC.com reported earlier this year, "Crypto billionaire says he could spend a record-breaking $1 billion in 2024 election."
Through FTX, Sam Bankman-Fried was the second largest donor to Democrat candidates this year, only behind George Soros in terms of total dollars donated.
FTX was the brainchild of not just Sam Bankman-Fried, but his circle of close associates, all of whom have ties to East Coast academia and all the deep state connections that go along with that. (We shall not report more on that right here, but you can dig and see for yourself.)
Binance, on the other hand, run by Chinese-Canadian CEO "CZ" (ChangPeng Zhao), was a rival of FTX that was routinely targeted by globalist media (Reuters, Forbes, etc.) in an effort to destroy Binance in an effort to make FTX the dominant player in the crypto exchange space. This would have put FTX in a position to generate a billion dollars in donations every election cycle in the USA, out-funding Republican donors by a long shot.
Binance's CZ, however, appears to be a mature, meticulous and libertarian-minded individual who, despite his being born in communist China, seems to support libertarian concepts in money, crypto and the freedom to transact. Furthermore, CZ recently stated he would like to work with Elon Musk on the new Twitter, positioning Binance as the default crypto transaction system on the network, fully knowing that Twitter is shifting toward allowing free speech of conservatives, Christians and pro-liberty individuals. CZ has published his a document outlining his principles here, and you can see that he is a mature, high-IQ individual who does not take insane risks in the crypto space.
Furthermore, while FTX's donations went to Democrats, Binance focused donations on humanitarian efforts in Wuhan and Ukraine (among others), focusing on bringing food, medical supplies and emergency gear to the people, regardless of their politics.
CZ is reported to be joining the board of Twitter as a "favor" to Tesla (Elon). Furthermore, CZ understands that the freedom to speak is essential to economic freedom and prosperity, as reported by Cointelegraph.com:
“Free speech is a prerequisite for having freedom of money, which we are building for,” said CZ, highlighting the importance of Twitter as a platform to voice opinions.
Binance CEO Changpeng “CZ” Zhao’s decision to invest $500 million in the social media site took the limelight.
The second reason for the fund injection is related to Binance’s support for entrepreneurs. In CZ’s words, “With Elon at the helm, we believe Twitter will continue to grow and become an impactful platform for everyone.”
While globalists were trying to tear down Binance, CZ struck back against the journo-terrorists, saying that Reuters was endangering the lives of his children. This was reported by Protos.com at this link. CZ clearly understands, in other words, how dangerous the global media cabal has become. These so-called "journo-terrorists" at Reuters, AP, NYC, MSNBC, etc., are all about destroying freedom, annihilating the human race with bioweapons and vaccines, and eliminating all competition to their power monopolies.
CZ apparently stands against all that. Which means that Binance is the anti-globalist platform for crypto, while FTX represented the corrupt, money-laundering globalist cabal. Binance is the adult in the room, while FTX is the corrupt cabal, run by immature children who follow no ethics whatsoever.
The fall of FTX is one huge accomplishment in the deconstruction of the globalist system. Binance and CZ are to be congratulated for this achievement, which wasn't even that difficult (it only took two tweets from CZ to bring down the entire FTX house of cards).
Personally, this whole thing gives me a new level of appreciation for Binance.
At this moment, an apparent "self-hack" is taking place on FTX (including FTX US) which is draining hundreds of millions of dollars from user accounts. The FTX app has self-updated and transformed into a Trojan horse that is draining user accounts. The FTX website has become malware that installs trojans onto users' computers.
The astonishing chaos now taking place is being widely reported by CNBC.com (reporting on a "secret back door" that allowed Sam Bankman to transfer billions), Coindesk.com, ZeroHedge.com, Cointelegraph and others. Via Coindesk:
'FTX Has Been Hacked': Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M
FTX officials appeared to confirm rumors of a hack on Telegram, instructing users to delete FTX apps and avoid its website.
The collapse of FTX, already one of the most spectacular disasters in financial history, worsened as hundreds of millions of dollars were drained from the cryptocurrency exchange hours after it filed for bankruptcy.
More than $600 million was siphoned from FTX's crypto wallets late Friday. Soon after, FTX stated in its official Telegram channel that it had been compromised, instructing users not to install any new upgrades and to delete all FTX apps.
"FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans," wrote an account administrator in the FTX Support Telegram chat. The message was pinned by FTX General Counsel Ryne Miller.
The buzz across the 'net centers around suspicion that Sam Bankman and/or his own current or former employees engineered this "hack" and have drained user funds as they prepare to flee authorities and try to disappear.
Some analysts suspect this entire thing has been a setup to try to destroy the credibility of all crypto so that the SEC can justify an aggressive crackdown on the crypto ecosystem. Either way, Sam Bankman-Fried is a crook, and his $32 billion empire / Democrats slush fund just got vaporized in a matter of days by Binance and CZ.
Get more details in today's Situation Update podcast here:
- FTX was a massive digital SLUSH FUND for Democrats
- Money was created out of nothing via FTT (tokens), then sold off to victims of the scam
- Millions went to Fetterman and other Dems to sway mid-term elections
- Sam Bankman-Fried had pledged $1 billion to Dems by 2024
- Globalist media outlets like Reuters and Forbes then attacked rival Binance
- Binance CEO CZ needed just two tweets to bring down the FTX fraud
- Binance is more libertarian and wants to coexist on Twitter with Elon Musk and free speech
- Binance doesn't pilfer user deposits / funds and make crazy bets (like FTX did)
- We are watching the collapse of dollar hegemony
- BRICS+ nations will shortly launch a new global reserve currency backed by commodities
- Hubs like Binance will likely allow Americans to buy BRICS+ currencies via stablecoins
- This would give Americans a way to SAVE money without losing to dollar devaluation
- The future of world trade will rest on honest money, backed by real commodities
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