SBF’s Massive FTX Fraud shows what “Regulation” of Finance really means

The story of Scam Bankrun-Fraud and how he managed to steal $16 billion in plain sight, right under the noses of the highest levels of the US government, has exposed the complete capture of so-called regulatory agencies in the USA. In recent news, we've heard that SBF met with White House officials only 2 months before FTX imploded, and “politics were not discussed”. SBF donated $100M+ to Democrats and $20M to Republicans. SBF also met with Fed officials, Tony Blair, Bill Clinton, Maxine Waters, and hundreds of other billionaire elites. SBF hired former US government regulators to monitor FTX finances and pipeline approvals at the SEC and CFTC. Sam even met with Gary Gensler, the head of the SEC, which is the financial body tasked with regulating crypto markets (it didn't matter at all that SBF's dad had taught Gensler at Harvard). SBF was the MOST vocal advocate of crypto regulation on the Internet, in fact only a few weeks before FTX went kablooie he proposed what was basically a total government takeover of all crypto markets.

Now we know that FTX was a complete fraud from day one, yet somehow we're to believe that not one government regulator, lawmaker, judge, president, financial executive, or lay person with a shred of common sense knew this. The MOST REGULATED crypto exchange in the world was the MOST CORRUPT. This is because “regulators” don't actually do anything other than occasionally prosecute someone who didn't pay off the government. Do you notice how Citadel illegally front-runs stock trades, JP Morgan illegally rigs precious metals prices, HSBC launders billions for drug cartels, and Goldman Sachs is generally a vampire squid on the entire world's economy, yet these blatant crimes are never prosecuted? FTX is the latest in a long line of pay-to-play financial scams, which had the explicit backing of the US government. “Regulation” of crypto markets will only corrupt them further.

As Upton Sinclair said, “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”


SBF met with Biden’s senior advisers 2 months before FTX’s collapse: Report