FTX Was An Official Partner To The World Economic Forum

November 11, 2022 8:51 pm Comments

A little internet digging has revealed the World Economic Forum had an official partnership with FTX.

As most of you know by now FTX which at one time was the 4th largest cryptocurrency exchange in the World has filed for bankruptcy.

After facing a major liquidity crunch, FTX along with Alameda research have both filed for chapter 11 bankruptcy.

Along with filing for chapter 11 bankruptcy, CEO Sam Bankman-Fried has also stepped down from his CEO position.

After the major crash, journalist Jack Posobiec pointed out FTX’s ties to the WEF.

Take a look:

WEF about FTX:

FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. It strives to develop a platform robust enough for professional trading firms and intuitive enough for first-time users.

What makes things a bit more interesting is that Sam Bankman-Fried’s aunt is an epidemiologist that has connections with the WEF and his brother is a founder of “guarding against pandemics”.

Forbes had these details to add:

Crypto investors have endured more than their fair share of sudden market meltdowns this year thanks to shocking revelations about poorly managed crypto projects.

This week brings yet another seismic disruption. This time it’s FTX—the fourth largest crypto exchange in the world—which until just last week, was considered to be an industry stalwart.

After facing a liquidity crunch, FTX, its sister firm Alameda Research and 130 affiliated companies under the banner of FTX Group filed for bankruptcy, according to a company statement posted on Twitter on Nov. 11. The statement also announced that Sam Bankman-Fried, CEO of FTX, would step down from his role and be replaced by John J. Ray III. However, Bankman-Fried will help with the transition.

“The immediate relief of Chapter 11 is appropriate to provide the FTX Group the opportunity to assess its situation and develop a process to maximize recoveries for stakeholders,” said Ray, the new FTX CEO.

The Chapter 11 filing caps off a tumultuous week for FTX and Bankman-Fried.

At the heart of the issue is FTX’s native token, FTT, which has been eviscerated in a huge sell-off, plunging more than 80% since Nov. 6.

So…basically this?

We warned you early on:

Something Very “Wrong” With Sam Bankman-Fried?

In case you don’t immediately recognize the name, Sam Bankman-Fried is the CEO of FTX, a (suddenly) surging crypto trading platform.

The Digital Asset Investor frequently mentions that while he keeps close tabs on the crypto space, he had never heard of FTX before they suddenly appeared in a SuperBowl ad with Tom Brady as spokesman.

Things that make you go “hmmm”.

So we’ll call that Red Flag #1.

Interesting, but by no means definitive of anything.

But recently, things started to escalate.

Next we had this:

So Elon Musk is widely reported to have “overpaid” for Twitter and for months the deal was on-again, off-again.

It was unclear if Elon had the funding needed.

It was unclear if he needed to sell more Tesla stock or if the bankers funding his debt would try to back out.

In the midst of all of that, he was allegedly offered a $15 billion (with a “B”) investment by FTX CEO Sam Bankman-Fried and Elon declined.

Who declines $15 billion?

Unless you REALLY do not want to be associated with that person.

Again, interesting but no evidence of any wrongdoing or malfeasance.

Just interesting.

Then we have Bitboy, infamous in his own regard.

Bitboy has been absolutely going off on some rants recently.

In one, he got so mad someone remixed it and turned it into a death-metal mix.

It worked.

But this latest one is Bitboy absolutely going off on Sam Bankman-Fried.

I mean, no holds barred.

Bitboy says SBF is the devil and out to destroy crypto.

I’ll just let you watch in his own words:

Here’s more on the Bitboy takedown:

And now I just want to add my two cents…

I posted this yesterday.

NOTE: this is speculation.  Wild speculators only.  Do not continue reading if you don’t like wild speculation…or critical thinking. 

I’m not making any allegations, I’m just pointing out that the name “Sam Bankman-Fried” is quite coincidental if it’s his given birth name.

Sir Isaac Newton pointed out another part I had not noticed:

If the name was created to make you think he’s going to “free us from the Bankers” then I direct you only to the “Patriot Act” which was about 180 degrees from anything patriotic, to suggest that whatever name the powers-that-be give to something, you can usually assume the truth is the exact opposite.

And is that not exactly what Bitboy is saying?

I think so.

Again, no accusations here just reporting on various puzzle pieces.

And back to Elon…Elon is no dummy.

I’ll defer to his judgment any day of the week (1) because I assume he has access to more inside information than I do, so I assume he’s making more informed decisions based on info we are not privy to, and (2) the man is freaking smart.  As in, he’s a rocket scientist.  Better yet, a self-taught rocket scientist.

It doesn’t mean we should dismiss SBF.

No, if anything, I think he’s here to stay and he’s one to watch:

Here’s more from Axios on the Elon/SBF saga:

Crypto billionaire Sam Bankman-Fried backed off helping Elon Musk acquire Twitter, after a phone call with the Tesla and SpaceX founder, Axios has learned.

Why it matters: The call, previously unreported, is a missing link to last week’s court filing, in which Musk’s text messages suggested that he had brushed off Bankman-Fried’s interest.

What’s in the court docs: In late March, Musk received texts from William MacAskill, an adviser to Bankman-Fried’s philanthropic fund, encouraging Musk to meet with the FTX CEO. Soon, there were similar messages from Morgan Stanley tech banker Michael Grimes.

  • Bankman-Fried said investing between $1 billion and $3 billion would “be easy,” and that be “could do” up to $8 billion without securing outside financing, MacAskill wrote in a message to Musk.
  • Grimes told Musk that Bankman-Fried had put $5 billion in writing, but verbally suggested an investment up to $10 billion.
  • Grimes added that the deal could be sealed with just a one-hour meeting, and that Bankman-Fried had offered to “do the engineering for social media blockchain integration,” were Musk interested (he wasn’t, per a thumbs-down reply).

What’s not in the court docs: Bankman-Fried and Musk spoke via phone following the intros. Afterward, the crypto billionaire told Musk that he was no longer interested in participating on the Twitter deal.

  • The text messages disclosed in the court filing do not include any messages from Bankman-Fried to Musk in this time period. They do, however, include one from Musk to Bankman-Fried, asking: “Sorry, who is sending this message?”
  • It’s unclear if Musk was truly confused, or if he was trying to shade Bankman-Fried for bailing on the investment.

We started this article with the Digital Asset Investor and now that’s where we need to finish it.

Because this just happened:

The man says his gut is not often wrong…

Looks like he may have sniffed this one out from Day 1.

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