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FTX Crypto Laundered Beijing Bribery
By Yoichi Shimatsu
Summary - The now notorious FTX-Alameda crypto-exchange facilitated China’s massive cash flows to the Democrats for vote-buying and ballot tampering in the 2019 U.S. elections. Nearly $4 billion missing from the vaults of the FTX cryptocurrency firm and its associate Alameda research group run by Sam Bankman-Fried (SBF) is now at the center of a massive media cover-up to prevent, or at least forestall the American electorate from learning of the crypto-crook’s role immediately after setting up his FTX exchange in Hong Kong. From that unregulated haven for crypto operations, SBF and his predominantly Chinese employees transferred millions of dollars in secret funding from China’s communist party to the Biden-Harris Democrat campaign to block Donald Trump’s bid for a second presidential term. Millions of that stolen money was spent on voter registration and mail-in ballot assistance for crack addicts, welfare mothers, illegal aliens, jailbirds on parole and nonexistent people.
On his arrival to Hong Kong two years earlier, SBF’s primary interest was self-enrichment by developing his Alameda research group as an innovative high-speed transmission of fund transfers of different national currencies worldwide. By June 2019, at the latest, his priority shifted to founding FTX for the purpose of transferring multi-millions in untracked funding via his parent’s secretive Democrat superPAC Mind The Gap (MTG). Barbara Helen Fried and Joseph Bankman, are tenured professors at the Stanford Law school who both, ironically, stress ethical conduct in their lectures, even though they secretly funneled millions of dollars in cash from the Chinese Communist Party leadership via FTX Hong Kong to Bankman-Fried accounts as well as other secret recipients, which then were “donated” to Democratic Party coffers.
Mind the Gap, an A-list of left-liberal egg-heads, is comprised mainly of Silicon Valley executives and tech-oriented financiers, who support the agenda of abortion rights and federal grants for innovative technologies for research professors with impractical projects, and of course expensive bottle of Napa Valley wine. The deep-cover funding foreign from the Number 1 rival of the USA was the obvious source of millions of dollars in payoffs to get out the vote in low-income communities,the drug-addicted homeless, illegal aliens, repeat voters and the riotous gangster riff-raff involved in Black Lives Matter arson and looting. Currency smuggling, voter fraud and pay-per-ballot represents an criminal assault on voting rights and constitutional protection. The right to vote is the very foundation of American citizenship and not a means to ripoff federal funding.
Hong Kong after the Umbrella Revolution
Now, let’s switch gears to get a “feel for the street” in Hong Kong, where I helped set up a journalism school at Asia’s top-ranked university and relied on the enclave’s magazine publishers for enabling my reportage from Afghanistan in the build-up to the U.S.-NATO invasion. There also I was also able to complete the editing of journalistic videos on controversies impacting Tibetan Buddhism, the 1992 Everest Disaster wrongly chronicled by Jon Krakaeur in his “Into Thin Air” (a critique that he accepted). On the ground, I reported on Hong Kong’s student-led Umbrella protests of 2014, three years prior to SBF’s arrival to set up Alameda Research to satisfy Hong Kong business executives’ demand for ever-faster international money transfers.
Note here that while the Democrat-allied news media has focused on SBF’s activities in Bermuda and, only partially his role as a Dark Web arms dealer for the Zelensky regime in Ukraine, Bankman-Fried’s start-up of cryptocurrency trading activities began in Hong Kong, especially in service of the princesses and princelings from high-ranging Communist Party of China (CPC) families, a blatant omission by the West’s “free press” aka the sold-out mainstream news and by now most of the subservient online media. This essay series will hopefully trigger a wider investigation of cryto-fraud by journalists, Congressional committees and the FBI, and hopefully depose Beijing’s Manchurian Candidate for a trial in a federal court on grounds of electoral tampering and high treason.
Born on March 9, 1992, Samuel Benjamin Bankman-Fried grew up in Palo Alto with his younger brother Ben. The boys’ parents Barbara Fried and Joseph Bankman, both law professors at Stanford University, are liberal Democrat Jewish supporters of charities including Planned Parenthood and advocates of grants for lucrative research grants. The couple are board members of the Silicon Valley based superPAC Mind The Gap. His aunt Linda Fried is dean of the School of Public Health at Columbia University in New York, a major advocacy center for the mandatory vaccine policy during the COVID lockdown. His younger brother is a former stock broker and director of the non-profit vaxx advocate Guarding Against Pandemics.
There is undoubtedly a wide gap, between the charitable posturing of this clan and the true purpose of their fundraising fraud, whose biggest contributor by far is the top leadership and spy service of the Communist Party of China. The sums transferred in tranches through FTX-Alameda and other channels is likely to total in the hundreds of millions of dollars, with only a part of that trove so far apparent. Even with that massive sum for public vote-buying, the Manchurian Candidates Joe Biden and Kamala Harris barely edged out Donald Trump to win (by cheating) the White House. Both of these crooks know damned well the nature of their treason, which constitutes grounds for impeachment, congressional censure and life prison sentences.
This debacle for American citizens is mainly the work of the corrupt Democrats rather than their Chinese paymasters, who have little if any comprehension that in the USA the vote is not for sale. I’ve spent decades in China as a journalism teacher, internet-based writer and media freelancer with deep sympathy for the historical plight of the Chinese people and have respect for the cultural legacy of their vast ancient civilization, but this money-smuggling interference in American democracy is barbaric, reflecting the very worst sort of corruption that led to the collapse of China time and again. It is therefore important that American politicians, academics, diplomats and entrepreneurs appeal to their colleagues and business partners in China to pursue the truth behind this blatant attempt at vote rigging. The mess on both sides of the Pacific needs to be swept into the sewers.
Otherwise, the all-important US-China strategic relationship, crucial to keeping the peace around the world and promoting prosperity and economic justice for all, will be self-destructed as hopelessly as the once friendly relationship between Ukraine and Russia. The important point to remember is that those who conspired for this gross violation of popular governance comprise a tiny minority, regardless of their positions of power and influence. Chinese and Americans of good faith must restore mutual respect for the ground rules in this all-important bilateral relationship. And for reform to happen, crooks and cheaters on both sides must be exposed and ousted into the political wilderness after serving prison sentences.
A Substitute for Life as a Game without Ethics
As an overrated math whiz but avid computer game enthusiast, SBF was admitted to MIT, where his studies were focused on physics and mathematics. There he became an advocate of charitable causes promoted by the Oxford scholar William MacAskill, whose 80,000 Hours charity urges followers to pursue careers that benefit society. Sam joined the group in college and later became a board member, which was an effective strategy to meet nerdy rich girls. After graduation, he toiled as an analyst at the Jane Street brokerage focusing on international foreign exchange operations, which are computerized to track constantly fluctuating exchange rates across the world and around the clock. He left that firm in late 2017 to launch his own financial analytics operation Alameda Research.
His decision to relocate to Hong Kong was prompted by a childhood schoolmate, MIT classmate and Jane Street colleague Gary Wang, who is a model Asian quiet unassuming code writer whereas SBF was the show-off sales promoter self-admittedly weak on tech skills. (After the recent collapse of FTX in the Bahamas and imminent arrest of his buddy Sam, Wang returned to Hong Kong with other mainly Chinese staffers, and is likely to pick up whatever pieces can be retrieve and report back to Beijing officials on the FTX fiasco. I hope to interview him there at some point.)
Cyber brothers SBF and GW correctly realized the growth potential for a crypto exchange on the doorstep of the world’s biggest manufacturing nation aka The Mainland. With that move into Hong Kong at the very heart of foreign currency trading for Chinese industrialists, businessmen and party brats hemmed in by legal restrictions in the mainland, Alameda thrived by using its algorithms to trade across global forex markets. Anyone who has ever visited that former British Crown colony has exchanged their dollars, yen or pound sterling for HK dollars or renmin-bi (the people’s money) at the windows of tiny money exchanges along Cleverly Street, between Central and the Western Addition. The former Brit Crown colony is money mad and the other obsession is incredibly delicious banquets.
The Scent of Money
The Lowu train station on the border between Mother China proper and bastard son “Sheung Gong” (the Chinese term for HK or “Fragrant Harbor”) is also the financial dividing line between East and West. The intoxicating scent in the old days was based on the aquilaria (agarwood) trees grown to produce sandalwood incense that once thrived on the island. In many ways, the whiff of money now wafts on the sea breeze from the Island to peninsular Kowloon across (Queen) Victoria Harbour. So to get to the point, anything that helps to multiply or amass money is held in reverence by 1 billion Chinese, starting with the brokers at the Hong Kong Stock Exchange to the money changers at Chek Lap Kok airport (no, the runway was not named after an expensive tip for lap dancers in the basement clubs of Wanchai.) So imagine the wealth of a billion hard-working people funneled into a tiny island with a huge airport to every corner of the world and uncensored Internet connectivity. Gold mines eventually play out whereas wealth constantly churns ever faster in Hong Kong. (As much as the pastoral wide-open spaces of the American Southwest have their soulful appeal, I must admit to missing the urban excitement of Hong Kong, plus the superb cuisine and boozing in Brit-style pubs during its Sevens rugby matches.)
Capital of Financial Tech
The tech boom started in the late 1990s when Richard Li, second son of the island’s wealthiest property tycoon Li Kashing, kick-started the boom in Internet-based technologies, with aid of IBM, which later spun off its computer production in Beijing to breakaway affiliate Lenovo. More recently, Hong Kong has served as luxury accommodations for wealthy investors, particularly those Party princelings who invest their family funds in nearby huge tech manufacturing centers in Shenzhen and Xiamen and offshore in the Americas, Europe, Africa and more recently Latin America, everywhere.
The steady rise of South China had all sorts of impacts on the USA. For instance, following that early phase of investment, HK served as the launch pad for Chinese acquisition of major western enterprises, for example Smithfield Foods, based in Virginia, which now is the world’s biggest retailer of pork product, thanks to WaMu aka the now-independent Chinese Walmart, which too even in the USA is steadily becoming Sinified. Surely, Hong Kong’s successes spurred rival regions to emulate its tech-savvy strategy with Alibaba following suit in lakeside Hangzhou and TikTok in Beijing, where an old friend serves as political commissar. These sorts of contacts with party heavies are not really scary but can be useful as sort of an insurance policy when the game turns rough. The Party has its fingers in everything, but usually is not watching the ball since all eyes are on the stock market ticker. The Chinese as individuals are quite reasonable and down to earth, and that’s why the American ambassador or high-ranking American expats should have warned Chinese VIPs that election-tampering is considered a high crime in the USA worse than even mass murder. We need to communicate our American values to foreigners who consider voting to be a rubber-stamp formality.
By contrast to the mainland population’s toleration of rough-and-tumble politics, the Hong Kong financial community had proved its craven cowardice by getting straight back to money-grubbing after the police crackdowns on the 2014 student-led democracy movement known as the Umbrella Revolution during six months of sit-ins and marches in the Wanchai area, which was cordoned by police barricades to shelter the financial center in the heart of the Central district, home ground for HSBC, Standard Charter bank, the Bank of China, and the Hong Kong Stock Exchange. The Financial District is staffed by geeks from dozens of nations who reside “up the (world’s longest outdoors) Elevator” in posh apartments in the Mid-Levels, above the clouds and dust of urban politics.
It was three years after the Umbrella Revolution that SBF’s sidekick Gary Wang considered it safe to venture into Hong Kong to open shop for Alameda Research, which not only churned out analytics on the emerging crypto-currencies and non-fungible tokens (NFTs), but also played the forex markets. Since computers can churn out buy and sell orders without any human eyes watching, and algorithms can make generally accurate predictions of market movements, Alameda make a huge fortune within a few months, since its programming was far ahead of the local pack. It is somewhat a mystery of why then, with profits rolling in from Alameda, did Bankman-Fried decide to start-up FTX.
The acronym was certainly spot-on since Hong Kongers routinely subscribe to the Financial Times of London, a press controlled by the Rothschild dynasty. FTX was rolled out in July 2019, amid the highly contested U.S. presidential campaign by Joe Biden against incumbent Donald Trump, the latter unimpressed by Chinese vacillation on business deals, as he had personally encountered with disappointment prior to his presidency with a crooked property tycoon based in Guangzhou (who recently went bankrupt).
Trump’s healthy skepticism of Chinese business practices stood in contrast with Biden’s enthusiastic view of China, which was shaped by his sojourn as a young CIA agent in the Tianshan mountains to monitor nuclear blasts at the then Soviet Semipalatinsk test site. That imprint on his brain from the days of the Sino-Soviet split in the early 1960s accounts for his lockstep obedience to Beijing as Big Brother, a groveling attitude that has been adopted by his crook of a son, Hunter, who has profited in deals with the Chinese in exchange for all sorts of political concessions by the Dems. The Biden’s knee-jerk submission to the Chinese leadership was repaid handsomely with the secret multimillions in illegal campaign funding transfer via FTX cryptocurrency to the Democrat Party.
The unprincipled subservience to Beijing in exchange for cold cash is largely the cause of the crash of FTX, after Sam Bankman-Fried got in the habit of not keeping accurate records of fund transfers and thereby lost track as black holes opened in the ledger book. In that sense, the collapse of FTX delivered what the global plutocracy justly deserved - media scandal, burgeoning financial losses and coming spate of “arranged suicides” to silence any insiders with ethical principles. Reporters with the Asian financial press have noted that lips are sealed among former FTX employees and customers despite their personal losses. They are not fearful of that punk Bankman-Fried; it’s the Party leadership that might strike down anyone who dares to leak compromising information. Hard-ball is the flip side of the soft sponge.
Do Not Waste Tears
As for the many clients and associated crypto firms that have taken a brutal beating from the collapse of FTX, spare no pity on Huobi Tech with its huge trove locked down in FTX aka disappeared, Atom Asset Exchange’s bankruptcy, silence from Genesis Block that once sold bitcoin from ATMs, the wounded Amber Group that lost 20 percent of its asset value and was forced to find shelter under Singapore’s state-run Temasak fund. As for hangers-on to hell with Tom Brady and Giselle Bundchen along with Stephen Curry, those pretty faces fronting cyber-fraud who tried to line their pockets stand exposed as crooks.
I wonder how dare the “Democratic” Party USA siphon off CPC bribery via FTX and Alameda after the American consulate had the temerity to voice “support” for the Umbrella Revolution and then denied entry visas for student leaders on the run (meanwhile allowing hundreds of thousands of illegals from the Third World who have never risked their necks for democratic values). Anyway, enough of the moral sermon, which I will save for Easter Sunday for more deserving victims of injustice.
So here are the wages of sin: Alameda Research lost an estimated $3.7 billion and FTX suffered a $1 billion wipeout. Those meltdowns conveniently wiped the computer account books of any data on secret CPC contributions to the Biden-Harris campaign along with the Democrat coffers for state and local elections in annum 2019. Not by coincidence federal-level investigations have since been launched at U.S. Post Offices in Erie, PA, and Phoenix, suspected of moving unreported money transfers for a vote-buying scheme. Keep that info under your hat, please, since I do not want to be run over by a mail delivery truck.
The connections of Sam Bankman-Fried to the Biden-Harris cabal has been pushed aside by the mainstream media, which has repeatedly been pushing the slow-paced mantra of the January 6 Capitol “attack” aka legitimate protest, during which the only victim of gunfire was Miss Ashley Babbit, whose heinous crime was to bang on a window to demand an explanation from security guards of why as a American citizen she was not allowed to enter the halls of Congress. The other claimed victims were felled afterwards by their inherent health problems. Here again is another indicator that the Democrats are guilty of accepting treasonous fund transfers from a self-admitted rival of the USA to prove to the Chinese muckety-mucks that they still hold control over the U.S. government.
Anyway, here are snippets estimating SBF’s contributions (excluding the funds transferred though his Stanford parents): “SBF contributed more than $5 million to Joe Biden and groups supporting his bid during the 2020 presidential campaign. (source: MarketWatch)” plus “Bankman-Fried gave Democrats nearly $37 million in the 2021-2022 election cycle (OpenSecrets). SBF was the second-biggest individual donor to the Democrats, surpassed only by $128 million from George Soros.” Continuing, in May, Bankman-Fried said he expected to donate “north of $100 million” to Democrats in the 2024 presidential election, but vowed to have a ‘soft ceiling’ of political spending of $1 billion if former President Donald Trump ran again.” Congrats, Don, you are a billion dollar man, whereas the old thief Joe could be swinging from a tree branch.
The Washington Free Beacon reported that Bankman-Fried met with top Biden adviser Steve Ricchetti on April 22 and May 12, according to White House visitor logs. His brother Gabe Bankman-Fried, who handles the billionaire’s political operation, visited the White House on March 7. In addition, SBF largely funded the Democratic Protect Our Future PAC that launched in May 2022. Gabe BF said the PAC was formed to “stop the next pandemic.” These estimates remain far short of the nearly $5 billion that vanished into a black hole with the collapse of FTX and Alameda.
OK, we could go on ad infinitum assessing the financial damage done by the Bankman-Fried clan to unsuspecting crypto investors in Hong Kong who were ripped off of their personal savings. On the other hand, suckers are born every day, eh? Whereas winners are few and far between indeed. OK, now the hard question, how much of the Beijing “gift” did the Bankman-Fried family’s charity donate to ensure than Biden defeated Trump? Try this on for size: $40 million. And that’s just the tip of the Chinese iceberg that will sink the Democrat’s Titanic.
Part 2 of this essay series on FTX shenanigans will focus on the Dark Web arms-dealings of Sam Bankman-Fried as the key online financial confidant of fellow Khazar-Kipchak Jew Volodymyr Zelensky and his Cyberspace Ministry.