I’ve never particularly liked “Crypto-Currency”. Just too much about it that is intangible and the only “real value” in it is that someone else might buy it from you.
Well it looks like the Bigger Fool started to not show up, causing some concern, and a minor run on one Crypto-Exchange (kind of like a crypto-bank but without any insurance, regulation, or actual value in its investments…) “blew up” with only 10% of the “assets on deposit” backed with liquid assets. Much of the rest “invested” in other crypto-tokens, flaky companies, and potential fraudulent “management”. To the tune of $32 Billion.
The part that interests me the most, though, is that it may bring peace in Europe / Asia.
Seems that the kid running this show was the 2nd biggest donor to Democrats. $40+ Million. He bought the mid-terms for them. He also has gone from $Billionaire to Broke overnight. Someone who said they were “partnering” with FTX was Ukraine. (All those $Billions being handed out like chocolates had to go somewhere…)
So Democrats voted to send $Billions to Ukraine who sent an unknown but large chunk to FTX who sent buckets to Democrats.
Now that’s all blown up.
And suddenly Ukraine is talking about peace, the CIA is off talking to Russia, and the Democrats are saying they can’t finance Ukraine forever. Perhaps because their money laundry just blew up?
Now what I’m wondering is just this: Are they looking for an “out” since their laundry is on fire, or did they light the laundry on fire to close down the “redistribution” scam before any records could be looked at by law enforcement or The Public?
Watters has a good take on it;
Looks like about $32 Billion of investor money down the tubes (and perhaps up in the $40+ Billion range), and $2 Billion just evaporated without a trace (so in someone’s pocket somewhere)…
Suddenly Ukraine is looking for more money (and not getting it) while the USA & EU are saying they don’t have it available. Sure looks like the money pot has gone missing…
I wonder how much of it was used to buy the “proper” vote count in places like Arizona and Pennsylvania?
Sigh. I’ve become so jaded about the corruption and fraud in Washington DC that it doesn’t even bother me much anymore to read a story like this one …
But hey, maybe it will end the War in Ukraine due to lack of funds…