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In response to a report from The Telegraph, Sam Bankman Fried (SBF), founder and former CEO at failed crypto alternate FTX, tried to affect presidential elections in the USA. The crypto founder has been accused of utilizing the corporate’s funds to affect US politics, however new knowledge reveals the depth of its actions.
Sam Bankman Fried Will get Concerned In Presidential Race?
In an interview with CBS’s “60 Minutes,” writer Michael Lewis spoke about Sam Bankman Fried, FTX, and its collapse in late 2022. The writer is famend for writing in regards to the 2008 sub-prime disaster within the US, which led to a worldwide financial recession, in his e-book “The Massive Brief.”
The e-book on Sam Bankman Fried is titled “Going Infinite,” Lewis met with the crypto founder on the peak of his fame and fortune and later when issues got here crashing down. In the course of the interview, the writer was requested about SBF’s intentions to “repay” Donald Trump, former US president, to skip the 2024 election.
Lewis claimed that the crypto founder considered providing the previous US president $5 billion to keep away from the electoral race. A current ballot reveals that former president Trump has the potential voters to go in opposition to sitting president Joe Biden.
Trump is the most probably candidate to signify the US Republican get together on this occasion, as these outcomes recommend. As many have prompt, providing him cash to keep away from the competitors might have served the Democratic get together’s political agenda.
The FTX Founder and former CEO has been linked to this political get together. SBF allegedly used his purchasers’ funds to donate thousands and thousands of {dollars} to the Democrats and managed to get shut with the US Securities and Alternate Fee (SEC) earlier than his firm collapsed.
In the course of the interview, Lewis stated the next, suggesting that the $5 billion determine got here from the previous US president or a spokesperson representing Donald Trump:
The quantity that had been kicking round (to pay Trump) once I was chatting with Sam (Bankman Fried) was $5 billion (…). The query Sam had was not solely was $5 billion sufficient to pay Trump, however was, “was this authorized?”
Might SBF Purchase A President, And Why Would He?
The writer prompt that the thought of paying Donald Trump to remain off the US 2024 election was floated round by SBF and the FTX employees even after the corporate went into chapter 11.
The previous US president and the FTX founder have had points with the US authorized system. The previous was accused of illegally inflating the worth of his funding, whereas the latter is ready to face trial for over seven costs of fraud.
The interview with Lewis raises many questions within the monetary and crypto neighborhood; many puzzled why SBF nonetheless prioritized paying off Trump even after his firm was in bother. That and plenty of different questions are prone to must be answered.
Investor Jim Chanos addressed Lewis’s allegations, dismissing them as a part of a “false narrative” that FTX and different firms used after submitting for chapter safety. By way of his X account, Chanos stated:
This was actually Enron’s protection. “If it wasn’t for these meddling short-sellers and journalists inflicting a run-on-the-bank, we might’ve been high quality.” That is nonsense, as each FTX and Enron had been each massively bancrupt, not illiquid.
As of this writing, the worth of Bitcoin stands at $28,300, with a 5% revenue within the final 24 hours.
Cowl picture from Unsplash, chart from Tradingview
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