BREAKING: FTX Lawyers Go After Former Clinton Aide

The FTX rabbit hole just got deeper. …

In case you missed the massive scandal and the ensuing fallout that rocked the crypto, traditional finance, and political sectors late last year, let me bring you up to date.

FTX was one of the world’s largest centralized cryptocurrency exchanges and its CEO, Sam Bankman-Fried, was a darling of the corporate, mainstream media and the Democrat Party.

SBF was presented as an ‘altruistic’, young, progressive CEO who deeply cared for the fate of humanity, often claiming that he would donate a vast majority of his wealth.

At the height of the company’s power, FTX was worth a whopping $32 billion and its founder SBF was worth $16 billion; however, just beneath that seemingly spotless exterior lurked serious financial risk and poor fundamentals.

Aside from owning and operating the FTX exchange, Bankman-Fried also owned a ‘separate’ trading entity known as Alameda Research.

In reality, Alameda Research was deeply interwound with FTX and utilized FTX client funds completely unabated.

Bankman-Fried allegedly engaged in ‘wash trading’ by constantly shifting money back and forth between the two entities—creating largely artificial price fluctuations in the exchange-traded assets utilized. …

Then the inevitable happened—poor market conditions and several bad trades completely took out both FTX and Alameda Research.

Astute investors and clients of the platform rushed to get their money out at the earliest signs of trouble, and FTX’s native token, FTT, dropped to almost $0 in value—practically overnight.

As the fallout from the collapse continued, and both the exchange and its founder came under greater scrutiny, a number of things were discovered that were deeply troubling.

For one, Sam Bankman-Fried was one of the top political donors. He donated to both parties, but clearly favored the Democrat Party, as he reportedly comes from a left-leaning family.

Bankman-Fried’s parents are both university professors and his mother was reportedly involved in co-chairing Democrat PACs and groups.

To make matters worse, online sleuths hinted at a complex web of money laundering and corruption that involved Ukraine, FTX, and the Democrat Party. …

Those early allegations of widespread, systemic corruption now seem to be corroborated by the latest report.

On Thursday, lawyers for FTX filed a $700 million lawsuit against a former Hillary Clinton aide and his investment firm in an effort to recover customer funds. …

Here’s what we currently know

Alameda Research, which filed for Chapter 11 protection alongside FTX, sued an investment firm co-founded by a former aide to the Clintons, seeking to recoup the $700 million in FTX funds that it claims Sam Bankman-Fried improperly handed over to the firm. https://t.co/BBIgTABp1Z

— Law360 (@Law360) June 23, 2023

Bankruptcy looms over the @FTX_Official empire as Alameda Research seeks a return of $700 million paid to "super networkers" for celebrity and political access. @SBF_FTX's "slush fund" spending on these connections is under scrutiny.https://t.co/4AiD2iWyiT pic.twitter.com/xkRLznCtYP

— CoinDesk (@CoinDesk) June 23, 2023

This photo of Bill Clinton on stage with SBF at the Bahamas crypto festival will tell you more about why Trump beat Hillary Clinton than all that stuff about the Confederacy. pic.twitter.com/xiPMbs699O

— Sam Haselby (@samhaselby) November 27, 2022

Reuters authored the revealing report:

Bankman-Fried authorized the transfer of $700 million to K5 entities in 2022, and he leaned on K5’s celebrity and business connections in his effort to obtain rescue financing in the days before FTX went bankrupt in November 2022, according to the lawsuit.

Bankman-Fried described Kives, who served as an aide to Clinton when she was a Democratic U.S. senator from New York, and who worked as a Hollywood agent for clients including actor and former Republican California governor Arnold Schwarzenegger and singer Katy Perry, as “probably, the most connected person I’ve ever met,” and “a one-stop shop” for political relationships and celebrity partnerships, according to the complaint.

Journalist Miranda Devine asks, “Biden’s SEC Chairman Gary Gensler deleted key details of meetings with George Soros, Hillary Clinton and Nancy Pelosi from the public version of his calendar. Did they discuss FTX and SBF?”

Bombshell exclusive from @ThomasCatenacci @FoxNews Biden’s SEC Chairman Gary Gensler deleted key details of meetings with George Soros, Hillary Clinton and Nancy Pelosi from the public version of his calendar. Did they discuss #FTX and #SBF? https://t.co/Z9tyQuzINz #FoxNews

— Miranda Devine (@mirandadevine) December 12, 2022

The Block adds:

In an internal note, Bankman-Fried said that Baum and Kives could provide “infinite connections” as well as “potential unpaid partnerships with celebrities.”

He added that they also wanted to provide FTX with contacts for the firm to “work with them on Democratic politics.”