The founder of the collapsed and now-bankrupt cryptocurrency platform FTX reportedly reached into his own bank account to acquire a Democrat-linked, voter-analytics firm.
Sam Bankman-Fried, the now-broke former billionaire with the very ironic first part of his hyphenated last name, “bought Deck, a startup firm designed to provide Democratic campaigns with predictive analytics and voter targeting capabilities, with up to $5 million of his own cash,” Fox Business explained about the summer purchase.
“The former FTX CEO reportedly gave assurances to Deck founder Max Wood that he could provide a financially stable path forward for the firm and bought out all existing investors,” the financial news outlet added.
Citing reporting by Puck News, Fox Business added that “The purchase potentially gave Bankman-Fried access to a trove of Democratic National Committee (DNC) information. Deck is available free of charge to Democratic campaigns nationwide thanks to a contract between the platform and the DNC.”
Deck reportedly appeared in the FTX organizational chart as a Bankman-Fried-owned entity in the firm’s bankruptcy petition.
SBF, as the widely considered disgraced entrepreneur is known, is said to have funneled $40 million to the Democrats for their campaigns to harvest ballots in the 2022 midterm elections, but he had purportedly even more lofty ambitions to advance a liberal agenda.
“The purchase of Deck was part of Bankman-Fried’s larger strategy to become more involved in politics…[SBF] vowed to spend $1 billion ahead of the 2024 election,” FBN asserted.
Disgraced Crypto billionaire impacted midterms, funneled $40M into Dem Party before scandal https://t.co/ReqEbJjdXv
— American Wire News (@americanwire_) November 14, 2022
Only open-borders billionaire George Soros reportedly donated more to the Democrats in the 2021-2022 election cycle.
Whether Deck is going to be left high and dry remains to be determined. “It is unclear how Deck will be affected by FTX’s collapse. According to Puck, the firm has attempted to distance itself from FTX in the fallout and is searching for new investors,” the Daily Mail noted.
Bankman-Fried also reportedly funded about six left-wing websites.
Backing Dems is reportedly all in the family for the “math genius with poor social skills.”
According to tireless New York Post journalist Miranda Devine, “SBF’s mother, Stanford law professor Barbara Fried, also is co-founder of left-wing political action committee Mind The Gap, which has raised a reported $140 million to help Democrats win elections through the same ‘get-out-the-vote’ grift.”
It was Barbara Fried who reportedly mentioned the Deck startup to her son.
Some critics claim that the FTX scenario was a money-laundering strategy for Dems that also extended to Ukraine.
The U.S. House plans to hold a hearing on the scandal in December, but with lame-duck Democrats still in control for a few more weeks, it remains to be seen if anything will come of the probe in the short term.
“The shambolic 30-year-old whiz kid, once said to have been worth $16 billion, had spent $10 million helping get Biden elected in 2020,” Devine added. “No wonder the Biden administration has been weak on regulating the crypto market. It was the goose that laid the golden egg.”
Bankman-Fried and a roster of celebrity endorsers have been hit with a class-action lawsuit from investors who alleged that the operation was a Ponzi scheme. More civil lawsuits are likely on the way, if not already filed.
The U.S. Justice Department is purportedly investigating, but it’s anyone’s guess if the very politicized agency under Attorney General Merrick Garland will pursue criminal charges if any are warranted.
— Conservative News (@BIZPACReview) November 20, 2022
According to lawyers contacted by Fortune, two potential, but not insurmountable, obstacles exist: Jurisdiction (since FTX is headquartered in the Bahamas) and intent. “[A]ny conviction will turn on whether SBF was not simply incompetent but whether he deliberately deceived investors.”
Republished with permission from American Wire News Service
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