How does the shady system work to keep the elite rich and politicians in power? A perfect example is with Sam Bankman-Fried’s FTX, which is now bankrupt.

In 1992, Sam Bankman-Fried was born on the Stanford University campus to two Stanford Law professors and tax regulation lawyers Joseph and Barbara. Sam went to MIT studying physics and math, and then met his ex-girlfriend and business partner, Caroline Ellison. Caroline’s father, Glenn Ellison is the economics department head at MIT where Gary Gensler used to teach, who President Biden appointed as the Chair of the U.S. Security and Exchange Commission, known as the SEC. Sam donated hundreds of millions of dollars of customer funds to the Democratic Party as the second largest donor, right behind billionaire George Soros. This got him access to working with the SEC and Congress on legislation to restrict FTX competitors from operating in the U.S.

FTX was setting themselves up to monopolize crypto exchanges to make billions more while politicians in return got hundreds of millions to stay in power.

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#FTX #SBF

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