Bizarre: New York Times Publishes 2,200 Word Article About SBF, Mentioned Democrats 0 TIMES

November 14, 2022 10:03 pm Comments

The New York Times recently wrote an article titled “How Sam Bankman-Fried’s Crypto Empire Collapsed”.

Within the article, it made no mention of how Sam Bankman-Fried donated over $40 million in the midterms elections to dozens of Democratic candidates.

It also didn’t state how SBF was one of Biden’s biggest donors back in 2020.

Instead, the article focussed on SBF’s sleep schedule and other tedious details.

It appears the NYT wants to make the world’s biggest financial scandal swept under the rug fast!

Here’s a portion of the NYT article:

In less than a week, the cryptocurrency billionaire Sam Bankman-Fried went from industry leader to industry villain, lost most of his fortune, saw his $32 billion company plunge into bankruptcy and became the target of investigations by the Securities and Exchange Commission and the Justice Department.

But in a wide-ranging interview on Sunday that stretched past midnight, he sounded surprisingly calm. “You would’ve thought that I’d be getting no sleep right now, and instead I’m getting some,” he said. “It could be worse.”

The empire built by Mr. Bankman-Fried, who was once compared to titans of finance like John Pierpont Morgan and Warren Buffett, collapsed last week after a run on deposits left his crypto exchange, FTX, with an $8 billion shortfall, forcing the firm to file for bankruptcy. The damage has rippled across the industry, destabilizing other crypto companies and sowing widespread distrust of the technology.

Besides some Twitter posts, messages to employees and occasional texts to reporters, Mr. Bankman-Fried, 30, has said little publicly over the last week. In the interview on Sunday, he voiced numerous regrets over the collapse of FTX.

But he would offer only limited details about the central questions swirling around him: whether FTX improperly used billions of dollars of customer funds to prop up a trading firm that he also founded, Alameda Research. The Justice Department and the S.E.C. are examining that relationship.

Alameda had accumulated a large “margin position” on FTX, essentially meaning it had borrowed funds from the exchange, Mr. Bankman-Fried said. “It was substantially larger than I had thought it was,” he said. “And in fact the downside risk was very significant.” He said the size of the position was in the billions of dollars but declined to provide further details.

If you had the chance to read the piece you would agree it sounds more like a sympathetic love letter.

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