Flashback Friday | #284: The Crypto Manson Family

FTX is exposing the joys of bank runs to a new generation of people, this time with digital tokens but the same ol’ liquidity issues that plagued runs of the past. And like most financial frauds, the rabbit hole goes really deep and usually connects to many people that were instrumental in almost pulling off the caper.

Sam Bankman-Fried was the CEO of a crypto trading platform called FTX until the tide went out and the world saw how overleveraged and under-capitalized the firm really was. And let’s not forget about the 11-figure criminality that was also exposed, as well as the fact that nobody was watching the store while the Manson Family was having orgies in the $40M penthouse in the Bahamas that was paid for with stolen money from customers’ accounts.

However, this is much more than a simple banking Ponzi scheme. The Democratic Party is deeply connected, as is the World Economic Forum, and the projects that the FTX money was financing were deeply involved with the same things that Epstein and Wellcome Trust had their eyes on genetics. Welcome to the party, it’s about to get weird.

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