Friday, May 30, 2025

Latest

Sam Bankman-Fried Wanted To Pay Trump $5 Billion Not To Run For President Again

Sam Bankman-Fried, founder of FTX, accused of a historic financial fraud, allegedly considered paying Donald Trump $5 billion to abstain from the 2024 presidential race. This revelation comes from author Michael Lewis during his “60 Minutes” interview, promoting his new book, “Going Infinite,” that chronicles the rise and fall of Bankman-Fried.

The entrepreneur’s fortunes took a hit in November 2022 when his crypto empire collapsed. He’s now facing charges of wire fraud and money laundering. Lewis points out, however, that unlike traditional financial crimes, FTX was a legitimate business with vast earning potential.

Bankman-Fried is accused of diverting customer funds for personal luxuries and to offset losses at his hedge fund, Alameda Research. Lewis explains that Alameda managed customer deposits due to FTX’s early banking challenges, amassing $8 billion.

Despite facing serious charges, Lewis distinguishes Bankman-Fried’s situation from that of Theranos founder Elizabeth Holmes, emphasizing the different implications of their respective controversies. The forthcoming trial promises to be a focal point, underscoring the balance between innovation and oversight in the crypto realm.


Information for this briefing was found via 60 Minutes and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

DeSantis’ Approval Rating Falls, Support Remains Stagnant After Campaign Launch

Florida Governor Ron DeSantis saw a significant decline in his approval rating just two weeks...

Thursday, June 8, 2023, 01:16:00 PM

FTX Seems To Have Paused Withdrawals After Binance Exodus

Chain data has shown that crypto exchange FTX appears to have paused processing customers’ withdrawals,...

Tuesday, November 8, 2022, 11:36:33 AM

Trump Administration Tied to Tate Brothers’ Release from Romanian Custody

It pays to be in Trump's manosphere...
Friday, February 28, 2025, 07:28:00 AM

SPAC DWAC Falls 11% After Announcing Proposed 12-Month Extension For Merger Deadline; Trump Asserts He Doesn’t Need Financing

The special purpose acquisition company associated with Donald Trump is ruminating its need for more...

Wednesday, September 7, 2022, 10:47:00 AM

Beijing Gears Up for Trade War as Trump’s Hardline Team Takes Shape

As U.S. President-elect Donald Trump assembles a cabinet filled with staunch critics of Beijing, his...

Monday, November 18, 2024, 02:56:00 PM