Democracy is an illusion! It’s become a political system fostered by the élite, for the élite, in order to fool the people that they have a stake in the system. In actual fact, they have virtually none. The whole political system in the modern era, despite having noble beginnings, is now used to benefit the few at the expense of the many. – Mark Alexander, June 29, 2018
Wednesday, 14 December 2022
FTX Boss Sam Bankman-Fried Charged with Defrauding Investors by US - BBC News
Dec 13, 2022 | Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, has been charged with defrauding investors of billions of dollars by the US Securities and Exchange Commission (SEC). The SEC said Mr Bankman-Fried, who was arrested in the Bahamas on Monday, had “built a house of cards on a foundation of deception”. It is alleged Mr Bankman-Fried used FTX customers’ funds for his privately-held crypto hedge fund, Alameda Research LLC. A court filing shows FTX owed its 50 largest creditors almost $3.1bn.
