Hard on the heels of George something-or-other, one Billionaire stood head and shoulders above all other Democrat donors. That overnight success is suddenly broke and facing criminal investigations.
It went from a high-flying e-commerce success story to a flat-broke cautionary tale about where to not to put your money.
The personal rise and fall story of Sam Bankman-Fried warrants a story in its own right but seeing as he was so very involved in American politics, questions about where the money for his enormous political donations came from will be the focus of our interest here.
If anyone has been wondering why memes are such powerful communication tools that the left wants to shut down, or even ‘fact-check’ it’s because they have a way of converting big and complex ideas into easily digestible bite-sized pieces. Even if you don’t come away with all the details, you have some basic idea of the underlying concepts.
For example: if we begin with a couple of memes on the topic of the corruption involved with Sam Bankman-Fried’s business and political dealings, even someone completely new to the topic can pick up a lot of the main points without a detailed discussion.
Memes can sometimes be statements of fact. But they can also be parodies, opinions, or just something to open the reader to new ideas and make him think. Here are two examples of how memes break down complex ideas into easily-digested symbols.
— The Right To Bear Memes (@grandoldmemes) November 13, 2022
Elon Musk, responds to Tom Fitton, talking about why this guy is unlikely to be investigated by using a meme:
What memes like these can accomplish is opening the reader up to hear information they may not have previously considered, either because they were ignorant of the claim or suspicious of it.
When the second-biggest Democrat donor is directly responsible for what might be the single greatest wealth-destruction event in history, people take notice.
The epic rise and sudden implosion of FTX—a top cryptocurrency exchange until this weekend—looks like an old-fashioned Bernie Madoff Ponzi scheme. It’s alleged that the now-former CEO, Sam Bankman-Fried, along with others, engaged in reckless trading activities, in an effort to stave off an imminent demise.
Through the firm’s affiliated hedge fund, Alameda Research, Bankman-Fried and other employees at the Bahamas-based headquarters were accused of tapping into their customers’ funds and digital assets. Without authorization, in a failed effort to keep the company afloat, he secretly transferred $10 billion of clients’ assets that were used to trade FTX’s way out of impending doom.
This conduct, at regulated financial institutions, is forbidden and results in serious civil and criminal repercussions. Since FTX is based outside of the United States, and there are open-ended questions about whether or not cryptos are securities, there will be intense scrutiny of the activities that took place.
… Bankman-Fried was heralded as the next Warren Buffet and JPMorgan, as he rescued several crypto platforms that experienced difficulties. His fortune was valued at around $16.8 billion prior to last week. Now, he’s most likely broke in one of “one of history’s greatest-ever destructions of wealth.” –Forbes
It was as recently as mid-October that ‘SBF’, as he’s known, announced he would no longer be throwing money around at political causes.
He gave money to Democrat races while leaving investors (many of them who could ill-afford to lose it) holding the bag.
Remember that the next time Democrats bleat about ‘dark money’ in politics.
What about the corruption allegations?
The symbols in the memes give a rough idea of where money was going, but they leave out important information.
Here is the allegation that we would love to see an investigation into, if law enforcement under Biden ever come up from air over endless J6 investigations and SWAT teams kicking in the doors of Pro-life protesters without criminal records.
A Twitter user with the handle @billybostickson has put together a helpful string of old news stories explaining who he is and what’s going on. But here are a few of the big takeaways.
The FTX cryptocurrency was founded in 2019, around the same time as Joe Biden announced his presidential run, and yet, by 2022, he somehow had enough cash on hand to be the second-biggest Democrat donor. Where did he get the money?
March 14, 2022, Coindesk: Ukraine Partners With FTX, Everstake to Launch New Crypto Donation Website
“Aid for Ukraine,” which has the backing of crypto exchange FTX, staking platform Everstake and Ukraine’s Kuna exchange, will route donated crypto to the National Bank of Ukraine, Everstake’s Head of Growth Vlad Likhuta told CoinDesk. Ukraine’s crypto-savvy Ministry of Digital Transformation is also involved.
The country’s collective efforts have already raised some $48 million in bitcoin (BTC), DOT, ether (ETH), SOL, tether (USDT) and other cryptocurrencies, according to the website. Other estimates place the amount closer to $100 million, but totals vary with market swings and exactly which websites are included. — Coindesk
It’s unclear how much of that money made it to the intended destination in Ukraine, or how much was skimmed off in fees and redirected to political causes.
On Friday, the Bahamas-based FTX was forced to file for bankruptcy after $473 million of its funds were stolen in a hack of the cryptocurrency exchange. Customers rushed to withdraw their funds, but it was too late.
Reuters reported that between $1 billion and $2 billion in customer funds vanished from the FTX cryptocurrency exchange. The outlet also claimed that FTX secretly funneled $10 billion of customer funds into his trading company – Alameda Research. The Daily Mail claimed that SBF’s alleged girlfriend – Caroline Ellison – ran the sister trading company.
The New York Times noted, “Despite raising $2 billion, he remained the majority owner of the company. No investors joined FTX’s board of directors, which was made up of Mr. Bankman-Fried, an FTX employee and a lawyer.” –TheBlaze
If the account owners were fleeced while Democrat coffers were overflowing with donations, it looks like much of Democrat Midterm fortunes were won by using stolen money.
What are the odds that Politicians return those funds, in trust, to be returned to their rightful owners?
The memes are ultimately a sort of shorthand for the kind of questions being raised by people demanding answers. Here’s what they look like when written out.
Psalms of War: Prayers That Literally Kick Ass is a collection, from the book of Psalms, regarding how David rolled in prayer. I bet you haven’t heard these read, prayed, or sung in church against our formidable enemies — and therein lies the Church’s problem. We’re not using the spiritual weapons God gave us to waylay the powers of darkness. It might be time to dust them off and offer ‘em up if you’re truly concerned about the state of Christ’s Church and of our nation.
Also included in this book, Psalms of War, are reproductions of the author’s original art from his Biblical Badass Series of oil paintings.
This is a great gift for the prayer warriors. Real. Raw. Relevant.