The Biden administration has long maintained a reputation of being linked to shady characters and organizations. This was proven by the administration taking meetings with ‘Defund the Police’ activists, despite Joe Biden’s public claims of wanting to “fund” law enforcement.
The same administration that once promised to be the most transparent in history is proving to be anything but. Though this time, the White House is under scrutiny for its connection to cryptocurrency aficionado Sam Bankman-Fried, who just so happens to be facing a federal probe.
A New Level of Corruption
Bankman-Fried stands accused of using his company, FTX, to improperly handle deposits made by customers.
Within recent years, much more attention has been directed toward cryptocurrency. It goes without saying that Bankman-Fried had ample opportunities to use this to his advantage in business.
Though as the feds investigate Bankman-Fried, it turns out he is very intertwined with the Biden administration. This involves not just meeting with advisers of the president, but also his long-standing track record of donating to Biden and other Democrats.
A friend wisely observes: Sam Bankman Fried was a major donor to Biden and dems, which means that dems were major beneficiaries of the FTX scam leading up to midterms
Will Fried get special treatment on account of this?
— Darren J. Beattie 🌐 (@DarrenJBeattie) November 11, 2022
As recently as the midterm election season, Bankman-Fried promised extensive donations to members of the Democrat Party.
The meetings he had with the president’s advisers also arrived at the same time that FTX wanted to influence how the federal government handles cryptocurrency. Though thanks to federal review, it turns out that FTX is currently on the bridge of going completely underwater.
Ultimately, the company’s inability to grant customers’ withdrawal requests is due to FTX not having access to the necessary funds, despite massive deposits made over time.
Concerns From the Public
Due to Bankman-Fried’s deep ties to the Democrat Party and Biden administration, some Americans are questioning if this will compromise the federal investigation into FTX.
— Crab Man (@crabcrawler1) November 11, 2022
In previous public statements, Bankman-Fried alluded to making progress in lobbying various Democrats to regulate cryptocurrency in manners that he deemed favorable.
Already, the Biden administration has shown — via the Hunter Biden probe — its willingness to pull strings for various outcomes.
If Bankman-Fried is let off the hook for potentially defrauding his own customers, then this will once again demonstrate how elites live by very different rules than everyday Americans.