The Mark Moss Show Nov 21, 2022

and technology. Of course, those three things are interconnected, and that's where I like to focus, and so I got a big, big, big, big, big show to talk about. Today. We are going to talk about the second largest cryptocurrency exchange blowing up and taking down everything in its wake. Let's just say everything. It's taking down the cryptocurrency industry, it's taking down the political industry, it's disrupting the finance industry.

I mean, this is really, really, really big news, and I want to look at it from a couple of ways. I've already done two videos on my YouTube channel, digging deep into this, where I've shown on on the you know here on the here what I'm just talking to you. I just have to kind of talk to you verbally and you kind of have to take my word for it.

On YouTube. I'd like to bring what I call the receipts, and this is I want the graphs, the headlines, the facts, the figures to show you, because man, some of this stuff is unbelievable. But I want to talk to you today and I want to dig in a little bit more in some way and discuss some things that I haven't put out anywhere else. And so I want to run through, first of all, I want to explain to

you how this all works. And it's super important that you understand this part because I've said some things on Twitter that have made a lot of people angry. And I said that this might have been the last cryptocurrency bull run that we'll see again. And I said that because of regulations that will come. And people are like, oh, Mark, you don't know, like they'll just go off shore and regulators can't stop it. And I would agree with both

of those things. However, if you don't understand how the market works, then you won't understand why regulations will put a let's say, put the brakes on this thing. Now. I'm not saying it's gonna go away. I'm not saying it's gonna kill You can't stop innovation. I'm all for that, but if you don't understand how this works, then you won't understand the impact that it has. So anyway, I'm gonna explain how this all works, how this got built up?

All right, Then we're gonna talk about, um, you know what they did, what ft X, what Sam Bankman fried, what Alameda did, um in in in ties with the regulators, the SEC, the CFTC, with the Democratic Party. Uh, we're gonna talk about the ties they have with the globalist um. Then I want to go into um this massive backlash that's happening, what potentially these regulators may or may not do after it? Um, And then what's gonna happen next, What other companies are at risk at danger, what happens

with the overall industry after this? And so much more? Um Man the big It's a big, ambitious goal to get through all this in the show. So I'm gonna have to talk really fast that you're gonna have stick with me, and you are not going to want to miss any of this. So let's just dig in. So UM, I want to explain to you first how this works, because, like I said, all these people on Twitter, they're all mad at me today because I said that we may

see the last crypto bul run. So first off, let me just say right off the bat, I and if you, if you, if you tune into my shows regularly, you should already know this, but I'm gonna tell you anyway. As a disclaimer, I am a freedom maximalist. I don't know what political party I'm in. I'm a freedom maximist. I'm for the party that gives me more freedom and less government. I believe, as an American everything is free. I believe that we are in the land of the free.

I believe in the country that my grandfather went to war defending, my father went to war defending. I believe every we are free people and everything is free. The government does not give us freedoms, nor do they tell us what we're allowed to do. The government does make laws which takes away our freedoms, but unless there's already a law there, then we are free. I am not for regulations, um. I believe that we should have uh

as little as regulations as possible. So don't take this episode as I am asking for or I want regulations to happen. But as an investor, I believe that we invest in the world as it is, not as we want it to be, not as we think it should be, but as it is. So I'm not for regulations, I'm not for big government. I don't want this to happen, but this is what I see happening. Okay, So let me just let me just let me just preface that. Okay,

Now that being said, let's dig into this story. By the by this point, you had to have seen it all over the internet. It's the largest story because it's the largest cryptocurrency exchange. We're talking about over ten billion or really the company was I had at thirty two billion, thirty two billion dollars and it basically got viscerated overnight.

And when I say overnight, over a couple of days, um about eight days probably from the time the story broke to the time it kind of got wrapped up, although of course the story is not wrapped up, and it's not a funny story. It's not a story to be taken lightly. Ten billion dollars were fraudulently taken away. And that's not just some numbers on the screen. That represents probably hundreds of thousands of people, hundreds of thousands of families who might have had their entire life savings

wiped out. So this is not funny. I don't take this lightly. I take this very seriously. So I might be laughing about some of this because it's just so idiotic, but I but I don't take this lightly. Uh. And I feel bad for anybody caught up in this. However, you know the saying I don't lose, either win or I learned. So if you've lost, take it as a lesson. Learn from this. And if you didn't lose, consider yourself lucky, but still learn from this, and hopefully you can learn

from other people's mistakes. All right, Um, And I'll also say just now that I hope, um, Sam Bankman, Freed and everybody else involved in this pays for this. Alright. I we need real accountability. I'm afraid we may not get it. And of course that's the state of the United States at this point. But let's talk about this. So how did this work? And like I said, this is the key piece to understand. First of all, So there's two companies now now I'm gonna explain f t

X and Alameda, but this is the whole industry. Okay, So there's two companies f t X, which is an exchange and exchange is like a broker So if you want to buy stocks of Facebook or Tesla or Google or Amazon or whatever, it's not Facebook and More. It's met Up. But if you want to buy any of those stocks, you would need a brokerage account and that would be you know, E Trade or Charles Schwab or Interactive Brokers or something like that. Okay, so that's where

you can go and buy and sells off. You can exchange things, all right. Then that so ft X was an exchange. Then there was another company, a sister company called Alameda, and Alameda is what's known as a market maker. That means they make markets. That means that they artificially create demand and artificially create a price around that. All right. Now, some of you go might go, oh, Mark, that's conspiratorial.

Market makers just provide liquidity. Yeah, they do. They do provide liquidity, but they also create artificial prices in this case, and so I'm gonna explain how that works, all right now. I do want to point out that in the point of stocks, Amazon, Facebook, Tesla, etcetera. Stocks are what we consider securities equities, right, So when I buy a stock in a company, I'm actually buying equity. I'm actually an owner of that company, and that security is is the stock,

all right. And what that also means is that those companies, in order to release that stock into the public that I could buy stock certificates are um they're not certificates

anymore now it's just all digital but their stocks. But in order for our company to do that, they have to file all types of paperwork, they have to meet all types of requirements, they have to spend lots of money in lawyers and fees and and things like that, Lots of due diligence they have to go through, and they have to, you know, basically prove their legitimate and they're not full of they're not fraught. Then the exchanges where you exchange those the etras, the child schwabs, et cetera.

Tdum are trades. Those aren't just exchanges. Those are brokerages that are licensed to allow you to buy and sell these securities. Now, all of that is meant to protect you. I'm not for the government imposing that. I think we should be able to protect ourselves. But this is the system. Okay, the crypto space, what FTX and others are doing is completely opposite. F t X runs in exchange that does not sell securities. But that's the piece we're going to

come back to. And because they're not selling licensed securities, then they're not licensed either, which is ripe for massive amounts of fraud. Now I'm not saying we need government regulations for that, but I want to frame that up. But more importantly, I want to talk about how all this crypto space makes so much money and leads to fraud. So we're gonna talk about that. Like I said, I've got a lot of big ambitius show to go through.

You do not want to miss it. If you're just tuning in right now, you're listening to the Mark Moa show. We're talking about this ft X blow up and what that means. I got a lot to cover. You don't want to miss it, so don't go away, all right, Welcome back. If you just tune it in. You are listening to the Mark mass show. We're talking about the ft X blow up. This is something I've been I've

been covering extensively. Um I've done too really really deep dive like forty five minute videos on my main YouTube channel Mark Moss, very very deep investigative journalism, so to speak, even though I wouldn't consider myself that. If you want to watch those super deep dives, you can go check it out. Just search Mark Moss on YouTube. Also, if you miss any part of the show, don't where I got your back. You can catch it on your favorite podcast player. Just search Mark Moss Show or check me

out on YouTube. Um on the Market Disruptor channel, you can watch and listen there. Um And I've been putting out the playboo, but this story is going so fast. I've been putting this on the play by play on Twitter. So if you're not following me on Twitter, check that out at one, just the number one, Mark Moss at one Mark Moss. So anyway, getting back to this, so there's two companies, Alameda and ft X, and so here's

how it works. As a matter of fact, I'm gonna tell you, I'm gonna redo directly from Sam Bankman Freed SPF. He's the founder of f t X and Alameda, and he actually explained exactly how it works in an interview on April two thousand two. Now, if you've been listening to the podcast for a long time since April. I originally read this to you back then, but I'm gonna read it to you again here. So this is directly from his own mouth. Okay, he says, uh, okay. The

cryptocurrency world is split into two. This is not from him yet, but the cryptocurrency world is split into two different visions. One group of fundamentalists seeing some coins like Bitcoin as unchanging, static line of code that can active stores with vious. So that's bitcoin, Bitcoin's over here. And then there's another group experimenting at an increasingly frantic pace with new ways to create money. Right, Bitcoin and crypto, they're not the same. Bitcoin is a static line of

code that's the store value. The other one is frantically trying to create money out of thin air. Okay, So now let's talk about this interview, and I'm gonna read directly quote and stand bankman freed. So here's how it works. You start with a company that builds a box and then practice this box. They probably dress it up to look like it's a life changing, you know, world altering protocol. So what he's saying is you start with a box.

So a company that's a key piece a company. Remember that a company builds a box and they dress it up to look like it's a life changing, world altering protocol to all these cryptocurrencies, their protocols, right, their software, They're gonna change the world, which is exactly what he's saying. So they a company builds a box and they dress it up to look like it's a life changing, world altering protocol. Then it says what it does, or it pretend it does literally nothing. It's just a box. I'm

reading directly from him. So they create a company. Uh, they create a box. They say it's a world changing protocol. But the box does nothing. It's just a box. So what this protocol is, It's called protocol X. It's a box. Now you take a token, all right, and you can take ethereum. You can put it in the box and then you take it back out of the box. So you put money in and you take money out. You start doing this to create activity. That's me ad living

here um. Now I'm gonna go back to quoteing him quote It doesn't do anything but let you put things in it if you so choose. Then this protocol issues a token. We call it whatever, call it X token, and X token promises that anything cool that happens because of this box is going to ultimately be usable. So now on the ad lib again here. So you created, you create a box. A company creates a box and they say it's going to change the world. Then they start putting tokens in and out of the box, like

a theory. In and out the box. There's like some activity. And then they create a token for this box, and this token promises that anything that happens that's cool with the box is gonna be usable. Now we don't know what that is. It's gonna have utility, though, we promise. We don't know what utility is, but don't worry, it's gonna have utility. Okay, this is how it works. Quote.

And of course so far we haven't exactly given a compelling reason for why there would ever be any proceeds from this box, but I don't know, you know, maybe there will be end quote. Okay quote. And then you say, all right, well you've got this box and you've got ex token. They're going to give them away for free to whoever uses the box. End quote. So basically, you've created this token. You create a company, you create a box, create a token, you pretend that there's some stuff going

in and out of the box. You're putting money in and out of the box to pretend there's something there. And then you create this token and you say, hey, anybody else that puts money in this box will give you this token that we created out of thin air, and we're gonna give it to you. All right, Um, if you use the box, quote X token has some

market cap, right, it's probably not zero. Let's say you know it's twenty million market At this point, the interviewer Matt says, wait, wait, wait, wait, wait, from like first principles, it should be zero. Sam Bankman Freed says, uh, sure, okay, completely reasonable comments. The interviewer Matt says, when you describe it,

it sounds like it should be zero. Sam Bankman Freed says, quote, you might think that in like five minutes, with the Internet connection, you could create such a box and such a token. So Sam Bankman Freed says, yeah, you might think it should be zero, and actually it probably should be because I could create this in five minutes. If I had an Internet connection, within five minutes, I could quote create such a box and such a token. It should be worth like one hundred and eighty dollars. You

know that effort that you put into it. In the world that we're in, if you do this, everyone's going to be like, oh, box token, maybe it's cool. If you buy in box token, you know that's gonna appear on Twitter and it will have a twenty million market cap. One thing that you could do is you could like make the float very low. There haven't been twenty million

dollars that have flowed into it yet end quote. So he's saying, yeah, it should be worth nothing because all you need is an Internet connection and I could make this in five minutes, That's what he said. But because you tell the world, oh, if you buy this box token, it's gonna be worth so much money. And then he says, uh, there would be a very low float. So what does

that mean. So a low float meaning you create, let's say a hundred million tokens and of the hundred million, only a very small percentage you're actually available to trade. So out of a hundred million tokens, you take I don't know, five thousand of them, like almost nothing. The rest get locked up. Of the five thousand, you start trading and through wash trading that means I trade in

and out by myself. So I sell it to my buddy, and they sell it to their buddy and Eyboddy and I buy it back and then it goes round and round and round. And because it's such a very thin amount, it's very easy for me to push the market cap or the valuation of a token that's very thinly traded up. Now, the interviewer says, quote, it shouldn't have any market cap in theory, and Sam Bankman Freed says, quote, that's right.

So it shouldn't have any value because they just made it up and it didn't cost any money, and all that was a computer and internet and they did it and we've artificially created and it it shouldn't have any value. And Sam Bankman Freeze says, quote that's right, continuing quote. Obviously already we're sort of hiding some of the magic impact, right, some of the magic is in like how do you get that market cap to start with? But you know whatever,

we're gonna move on from that. Ex tokens are being of it out each day. All these like sophisticated firms are like, huh, that's interesting, Like if the total amount of money in the box is a hundred million dollars. Then it's going to yield sixteen million this year and ex tokens being given out for UH sixty percent return. So what he's saying there end quote. So what Sam Bankman Free is saying is you're right, it shouldn't have any market cap, but we're hiding some of the magic.

And he says, um X tokens are being get out every day and these sophisticated firms are like, that's interesting. These sophisticated firms are the venture capitalist firms. And this is a key piece. So venture capitalists loves cryptocurrency because they can buy these fake imaginary tokens and instantly make In this example, Sam Bankman Freed quoted him says they

could make sixteen million this year. So typically venture capital has to lock up money for seven to ten years and hopefully if this company really changes the world, will make that money back. But with crypto they can put it in and instantly make five, ten, twenty thirty times on their money. They loved it. If you're just tune in, you're listening to the Mark Moa show. We are talking about the ft X fiasco, how it's melted down the cryptocurrency space, and I'm explained how it works. I gotta

break all this down for you. Have a very ambitious show. I'm gonna try and get through really quickly. Don't go away, I'm gonna be right back. All right, welcome back. If you're just tuning in, we're talking about the ft X fiasco. I'm explaining to you how it worked. It's the key piece. You have to understand how it worked to understand where

this goes. And this is what most people misunderstand. I've been putting it out on Twitter, and people don't understand because you're going to get you know whatever, whatever tun characters. I think it is. Um. If you're not following me on Twitter and you want to play by play, you should. You can find me on social media, Twitter, Instagram, whatever, at one, the number one at number one, Mark Moss. Anyway, So, uh, Sam Bankman Fried, I'm reading a quote directly from an

interview here. He says that, uh, you know, these sophisticated firms, these venture capitalists are like, wait, so I can make all this money. And so that's the point that I want to make. This is how it works. You have a company, they artificially create a token. They say it's going to change the world, but really it does nothing. They start wash trading, they start moving money in and out of it to look like it has some activity. They thinly trade and they take a small percentage and

they artificially push the price up. Then when they artificially pushed the price up and people artificially think there's actually some value there, then those people will want to buy it. So then they do that with Alameda, and then they list the token on the exchange on ft X, and then everybody wants to trade that token because they think that token has some value because Alameda faked it. And then f t X makes all the money because you're buying and selling it, so as you trade it, they

make money. So everybody's making money and they dump it on you. And it's important to understand this key piece here. All Right, we're gonna come back to this um towards the end when we start talking about the regulations and where I think the places of the space is going to go and how it's going to affect things. So that's kind of how it worked. Alameda would create these tokens out of thin air, or they would actually help

create these tokens out of thin air. They would bring on companies, thousands of companies to create these box tokens. As Sam n Freed says, Alameda would then artificially create a market around it, and then ft X would list it so then you could buy and sell it and they could all make money off of you. All right, So that's how all of this worked, and that's how cryptocurrency works overall. Now we can see that it wasn't

just the venture capitalists that love this. Of course, as I said, the venture capitalists do absolutely love it because everyone loves it. The company that makes the box token loves it because they get cashed out huge. The venture capitalists love it because instead of having lock up money for seven to ten years, they can instantly get on their money. The media loved it because they had something

to talk about. The media also loved it because they got massive amounts of money in terms of advertising dollars. This is why you need to learn to manage your own money. You cannot trust financial news sources. You can't trust the finance magazines. You can't trust the Jim Cramer's of the world on TV. You can't trust any of them because they're financially incentivized to sell you the stuff of their sponsors. Open up any of your financial magazines

and look who's running ads in there. Those ads are going to dictate what that magazine can talk about. If the magazine talks about things that ads don't like, the advertisers won't advertise their same on TV. If TV talks bad about the people writing the checks, the people writing the checks won't write the checks. It's a horrible incentive system. Now, if you listen to me, I'm not incentivized to sell you any products. I'm just going to tell you the truth, all right. By the way, I try to do that

on my YouTube channel. You're not following my YouTube channel. You should just search Mark moss On on YouTube all right now. Um f t X has been paying lots and lots and lots of money to advertise. They don't pay me any money, but they pay lots of money as a matter of factually, says Cryptocurrency Exchange. F t X spent tens of millions of dollars over the past couple of years on slick marketing efforts, including sports sponsorship deals and celebrity laden TV ads featuring Tom Brady and

Larry David. Not tens of millions, that's wrong. On national television. Three major crypto companies spent a hundred and fifty three million on advertising this year through the end of October, So just this year to date, a hundred and fifty three million. That's more than triple the forty six million the three companies spent during all of last year. So just year to date, they've spent triple what they did

for the entire last year. So the TV companies, the media companies, they need this money and so they can't say anything critical about this. They can't turn down their money they needed. The incentive structure is broken. We can see that before the implosion of FTX, crypto brands had begun to slow their spending as cryptocurrency valuations declined earlier this year and as scrutiny for regulators grew over some

of the sector's marketing practices. Estimates from ice spots showed that crypto brands spent a paltry three point five million on TV ads from August through October. By comparison, the sector spent eighty four million in February. So since the cryptocurrency markets have been crashing down since about May of this year. Companies have been spending less and less and less. In February they spent eighty four million, but for the

last three months they've only spent three point five. Now, part of that, I'm guessing is because, um, in February, it was the Super Bowl, and so of course they spent a bunch of money in the super Bowl. Super Bowl was held February, and it was lots of these crypto companies that were advertising there. UM thirty second add time went for as much as seven million dollars, which

is insane. UM ft X is to Crypto Exchange. The Bahamas based ft X Trade Limited and US based ft X spent more than two hundred and twenty million on sales and marketing last year from six million, So you can understand really quickly how misaligned these are. UM. It's also gonna be a big problem moving forward because it says her crypto companies signed roughly seventy new sports sponsorship deals last year, spending an estimated two hundred million on

the agreements. So what about all these sports companies? What about these sponsorships. F t X had committed to spend more than nine hundred million on sponsorship as part of multi year deals. So they named the nine NBA's Miami heat Stadium the ft X Arena, you know, Major League Baseball, UM, on and on and on. So what about all those companies, what are they going to do moving forward? That's gonna

be a big problem. It says here AD executive said it will be very hard for sports leagues to replace the cryptocurrency category. So now you understand why this crypto height blue so big. And this is what people aren't understanding. Um, when I put this out on Twitter, I said, look, I think these regulations are going to probably be the end of the crypto bull run. There probably won't be another cryptocurrency bull run. And the reason why I say

that is because of regulations. And people say, oh, but you know, they'll just move off shore. Yeah, it probably will. But if the media can't advertise it, if the venture capitalists can't put money in, there will be no hype. There will be no mania hysteria over this. So I'm not saying that government regulations are going to stop innovation, certainly not. Of course, nothing will ever stop innovation. However, it can stop the mania. If you can't advertise it.

You can't put you know, name, stadiums and all of those things. Okay, So let's keep digging into this a little bit. Let's talk about, um, how bad this fraud was. All right. This is not just some innocent mistake. This was perpetrated. This was intentionally done, and it was intentionally done and perpetrated with the highest levels of governance and security and scrutiny in the world, not just the United States,

but the world. So let's dig into that now. Uh. First of all, so f t X the founder Sam Bankman Freed SPF Bankman Freed. So that name is hyphenated Bankman and Freed. Why is it hyphenated, Well, that's because his parents, one Bankman and one Freed, are both let's say, known in their respective fields. So I guess he decided to take on both of their names and hyphen it.

His parents weren't hyphenated, but he wanted to take on both of their names, I guess because they're both accomplished, and they're both accomplished professors in the legal space his father were both of them right policy and guidance on things like tax policy. His father has written many influential papers on eliminating cash, which is something I'm not a fan of Um. So they want to get rid of cash, they want to change the financial system, they want to

enforce tax policy. That's who his parents are. They're also bundlers, which means they take in lots of money, large amounts of money, and bundle them together and donate them to super PACs which donate massive sums of money to political parties, in their case the Democratic Political Party. But that's not all. We're actually barely scratching the surface of their government global government ties. If you're just tuning and listen to the Mark Moas Show, we're breaking down the f t X

story for you. Here, I got a whole lot to go. Um, don't go away, I'll right back, all right, Welcome back to you. Just tune in. You're listening to the Mark Moss Show. We are breaking down the f t X story for you. The second largest cryptocurrency exchange going down. And it is not a case of ignorance. It is not a case of a good guy getting it wrong. This is a case of fraud at the highest level, and the government level, at the regulatory level, at the

global governance level. It's a story that big. We're just talking about that. So the founder, Sam Bankman Fried, his parents are are deep state connected, UM, massive political donors. We talked about that. Uh. F t X is also a partner with the World Economic Forum, which of course I've talked about extensively UM. And that's not just a coincidence. His aunt also works for the World Economic Forum, also part of John Hopkins, which of course was very instrumental

in this whole pandemic to a one. You know where they did the pandemic test before the pandemic actually happened, So massive ties there. And of course it doesn't surprise you then that Sam Bankman Freed SPF and his brother are also heavily involved in the pandemic space. Will call it that UM, both in pushing policy, raising money, and trying to enforce rules around pandemic response, including supposedly trying to save us saved the world from the next next pandemic.

F t X founder Sam Bankman Fried said that it's such a shame that he lost all his money because how are they going to stop the next pandemic? Now, that's what he said. Never mind the hundreds of thousands of families that you probably condemned to death by stealing their life savings. He wants to pretend like his goal was to stop the world, save the world from a pandemic. I mean, it's just insane anyway. Um. So let's so, so we have ties into the government through the Democratic Party,

We have ties into the World Econmic Forum. We also have ties into the Ukrainian government. And so when the Russia Ukraine situation broke out, Um, the media, remember the media is always at the center of this. The media thought that it would be important to get the support of the people. So they started running all these stories and we have to support the Ukrainian people, and everybody put Ukrainian flags up all over the place. Um, and let's all donate our money for the Ukrainian people. And

of course they wanted to do that with cryptocurrencies. Now, how do we bundle all of these cryptocurrency donations together into one and give this cryptocurrency as money to Ukraine. Well, it would probably not surprise you. As I said, his parents are in fact bundlers. It's actually what they do. So f t X said, Hey, we got a good idea of Ukraine. Why don't we partner up will be

the official cryptocurrency bundler for you. We'll go ahead and take all that cryptocurrency for you, and then we'll give it to you. So f t X had to get in the middle of the Ukraine donations partner with the Ukraine government. Now we don't know if there was any wrongdoing there. Um. We don't know how much of that they took or kept, if at all. UM. So I don't want to create allegations that I can't back up. But what I do know is that where there's smoke,

there's fire. Um. What we do know unequivocally is that Sam bankman Fried is potentially one of the biggest scammers defrauders um that we've seen in decades since Bernie Madoff's time. We do know that, and so well, this looks pretty shady, and given the fact that he's probably the largest scam artist alive right now, it would make sense that there was probably some improprietary there, right, I would just guess, but I don't have I don't have hard facts about that.

But we do know that he was involved doing what his parents do, which is of course bundling. There's also some other weird um coincidences will call him that here um which is uh. Let's see f t X just happened to be founded right at the time that the Biden administration announced that they're going to run for a president. Um F t X was also the second largest donor

for the Biden campaign. Um F t X also or Sam Bankman Fried also donated over forty million dollars for the Demmocratic Party in the mid terms in elections like where John Fetterman beat Dr Oz forty million dollars to influence the elections. But it goes even worse than that with this money. So there's a walk through this for a second. So Sam Bankman freed with his two companies,

Alameda and FTX. He created a fake token and artificially gave it value with his own company by pumping and dumping it, by by pretending it had value, by wash trading it by himself. Then he created it, made it have values. So he created all this money out of thin air. Then he took that money that he counterfeited.

Let's call it that he took this money that he counterfeited and then used that money to go influence politics by an administration massively influenced the midterm elections and then buy off the regulators, the SEC, giving money to the SEC, Goovern mention to c FTC, hiring all the people from the c FTC to come work for him with money

he counterfeited. Then he went to go meet at the highest levels of government to then create policy, to create laws, to create regulations, and of course these regulations that he is creating using funds that he stole within benefit who well, of course they're going to benefit him. That's the way it works. You take this money and you create regulations that protect you but prevent anybody else from coming in and coming after you and taking away your position. That's

how it works. Now, there's lots of improprietary Like I said, hundreds of thousands of families have lost their life savings over this. Probably people will take their lives over this. To him, it's a couple of numbers on a keyboard. Do you think the Democratic Party might give back any of the forty million that they took? Maybe the Democratic Party gives back some money to make these Americans whole. My guess is probably, Now will there be massive regulations

coming down against this? Now? We know that again just a dot to connect. We don't know. But we we do know is that Sam Bakman Fried's girlfriend who ran the sister company Alameda, her father, um Gary Ellison, was the SEC chiefs boss at M I T. So the guy Gary Ginsler, who's the chair of the SEC, which is supposed to be the agency in the United States, is supposed to keep you safe and make sure that you don't lose your money. That's their job. Securities Exchange

Commission is to protect consumers. That's their job. They didn't do a very good job. As a matter of fact, they missed potentially the biggest fraud and scam that we have seen in most of our lifetimes. They completely missed it. They didn't keep you safe, and it just so happens that he worked for the girl's dad. Mm hmm. That. You know, we we can sit here and talk about quinces all day, but sometimes there's just too much of

a coincidence. And you know, there's such a thing called conflict of interests, and typically what happens is in like a legal case or something like that, a judge or a lawyer or something like that might have to step down and they couldn't work on that because of you know, supposed conflict of interest, not because they did anything wrong, not because they would even do anything wrong, but they would do it just so there was no uh no thought, no no, no doubt that there could be some imprietary

So um Tam Magmnfried's girlfriend who ran Alameda, the sister company, her father was the head of the SEC's boss. Sounds really bad. It sounds really really bad. And then we have um Sam bankman Free donating all this money to the CFTC, which is the other regulatory body, donating tons of money to Maxine Waters, who's supposed to be in charge of this whole thing. And Maxine Waters is now basically trying to dodge all this. She said, quote, I

don't want to get into that topic. End quote, avoiding questions saying, well, I don't want to get into that. As a matter of fact, both sides Democrats received donations. She said, thank you, no, no, no, no, no. Forty million dollars went to the Democrat party. Now maybe there was a few other Republicans in there. We don't know.

We'll find all this out. If you're just tuning in, you're listening to the Mark Moa show, we are talking about the f t X blow up, the cryptocurrency market melt down, and the fraud that happened because of that. So we have just getting into this story. As a matter of fact, I'll call this just part one, and I am going to continue into this story to talk about what's going to happen and where this goes in

the future on part two. So if you want to join me catch me on the podcast, just check out Mark Boston your favorite podcast player, check me out on YouTube as well, and that's what I got. Thanks for listening.