- Sam Bankman-Fried escapes another criminal act due to political leverage.
- SBF sent $93 million worth of stolen customer funds as donations to US politicians.
- The US government has already dropped charges against him.
Sam Bankman-Fried is once again exposed as the fraud that he is. This time, he has proven to use stolen customer funds to fund US politicians. Specifically, he seems to have sent $93 million of stolen customer funds as donations to US politicians.
Much like all the cases against SBF, the accused continues to slip away. Just after his exposure to the newly enlightened crime, the US government dropped this charge. In detail, the US government dropped a political campaign finance criminal charge against him.
From the responses to the post we can see that every reader is outraged and disappointed at this debacle. Due to influential connections, SBF failed to face retribution from his crimes connected to the FTX downfall.
The FTX incident is one of the biggest reasons behind this tragically long crypto winter. Along with the FTX incident, the Terra Luna fall added onto the sad state of the crypto market over the last year.
Presently, the crypto market has slowly begun to recover. Positive news like XRP’s win against the SEC is a great sign for the possible end to the long crypto winter. This is exactly what responses to the post point to.
For instance, one response in particular draws light to how the US government let’s known criminals like Sam Bankman-Fried walk free while instead, US regulators go after legitimate crypto companies like Ripple.
This is indeed troubling news to encounter again and again. FTX users lost millions if not more to SBF. Yet, SBF uses stolen funds to fund politicians who again do nothing to serve justice. This is another reason why the use of crypto should be heightened.
Cryptocurrencies can track transactions and prove fraudulent behavior. Furthermore, with blockchain technology and decentralization, power can be distributed and criminals can be held responsible despite being ‘well-connected’.
