11 hours ago
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Sam Bankman-Fried (SBF), the disgraced laminitis of FTX, precocious sat down for an interrogation with Tucker Carlson, wherever helium discussed a batch of things. In an astir 45 min agelong video SBF and Carlson discussed beingness wrong prison, gathering diddy, crypto nether trump and astir importantly wherefore helium went to situation erstwhile democrats were successful power.
At 1 constituent of interview, Carlson intelligibly questions SBF, Why did the Democrats, who usually support their large donors, fto SBF instrumentality the autumn portion idiosyncratic similar Tony Podesta avoided jailhouse time?
SBF replied that helium so was 1 of the biggest donors to the Democratic Party, particularly during Joe Biden’s 2020 campaign. At first, helium believed that supporting the Democrats would assistance physique amended fiscal regulations and a fairer system. But aft spending clip successful Washington, D.C., helium started to consciousness similar things weren’t going successful the close direction. By precocious 2022, helium had begun secretly donating to Republicans, too.
Thus by playing some the sides astatine aforesaid time, SBF benignant of invited this beingness himself. While gathering each the politicians was not casual to maintain, his meetings with instrumentality enforcement agencies were besides not good.
One of the biggest challenges SBF faced was dealing with fiscal regulators, peculiarly SEC Chairman Gary Gensler. According to SBF, Gensler wasn’t funny successful helping crypto companies comply with regulations arsenic helium was much focused connected expanding his ain powerfulness and control.
SBF revealed that galore crypto businesses, including FTX, recovered themselves stuck successful a rhythm wherever the SEC demanded compliance but ne'er provided a wide mode to register. This deficiency of clarity created a large hurdle for the full manufacture and apt contributed to FTX’s downfall.
Did Washington Use SBF and permission him to dry?
When FTX collapsed, SBF didn’t telephone successful governmental favors to prevention himself. Part of it was that helium didn’t privation to enactment inappropriately, but different crushed was that his governmental allies had already decided to region themselves.
The Department of Justice (DOJ) had made up its caput earlier FTX adjacent filed for bankruptcy, meaning that immoderate attempts to question extortion from Democratic leaders would person been pointless.
Why Did Tony Podesta Avoid Jail, But Not SBF?
The opposition betwixt SBF and Tony Podesta is striking. Podesta, a longtime Democratic lobbyist, faced contention but ne'er saw the wrong of a jailhouse cell. Meanwhile, SBF, contempt his heavy pockets and governmental connections, was near to fend for himself. This suggests that governmental loyalty successful Washington is conditional, erstwhile you go a liability, your allies won’t hesitate to chopped you loose.
SBF’s communicative is simply a acquisition successful however governmental donations don’t ever warrant protection. He thought that by supporting the close people, helium could physique relationships that would safeguard him erstwhile things went wrong. Instead, helium learned the hard mode that Washington plays by its ain rules. His acquisition sheds airy connected the world of powerfulness and power successful politics: wealth mightiness bargain access, but it doesn’t ever bargain loyalty.
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