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The collapse of the cryptocurrency exchange FTX is, even if you’re not interested in cryptocurrency, a history changing event. It may turn out to be the biggest single-day loss of assets in the history of money. Billions of dollars evaporated in just moments and it’s still not clear what happened to a lot of that money. It just disappeared and as it did, it sparked a growing financial crisis across entire sectors of the economy, a disaster that quite possibly could get very worse very soon, but the story of the FTX implosion is bigger even than the global recession it may cause.
It is the story of the complete and utter corruption of the people who run our country. The very people who should have been covering and regulating and reining in FTX and its 30-year-old founder, Sam Bankman-Fried were instead profiting from this scam, not just a few of them, nearly all of them—from the news media paid off by Sam Bankman-Fried; to the leadership of the Democratic Party, also paid off by Sam Bankman-Fried; to the chairman of the Securities and Exchange Commission, the SEC commissioner himself, Gary Gensler. They all knew that FTX was not a real company and that Sam Bankman-Fried was a fraud and if they didn’t know that, they certainly should have known that because it was very obvious to anyone who bothered to pay attention.
One of the few who did pay attention was a short seller called Marc Cohodes, who took one look at Sam…
