Business
The SBF Scandal: The Players and the Money
From the Brownstone Institute
The complexities of the FTX scandal with Sam Bankman-Fried at the helm boggles the mind. Unlike the Madoff scandal, which was incredibly simple, the funding, influence, and political networks sounding the $32 billion collapse of FTX is byzantine by design.
Just have a look at the org chart of the company to get a sense. It’s all the better for avoiding oversight.
What we really need in the months or even years in which it will take to sort all of this out is some kind of key to the major players. What follows is a list which we’ve put together in order of network importance for easy reference. This small effort is made necessary because there seems to be very little attention being given to the entire SBF empire, both in terms of the players with whom he worked and where the money ended up.
It’s nowhere near being a guide to the fullness of the networks of funding and influence, and can only begin to hint at the real story of what was really behind this magic bean factory in the Bahamas. Their operations and networks are deliberately obscure and fan out over many countries, institutions, and individuals. There is a strange silence in the air about the details other than the general observation that Sam Bankman-Fried was up to no good.
And yet there were obviously many people involved. It’s probable that the main point was to fund political causes in a way that gets around federal election law, as the indictment suggests in count eight. However, a close examination of the networks keeps coming back to the strange theme of pandemic planning and support for various methods of controlling the population in the name of controlling infectious disease. Aside from political donations, this was a central concern. What that has to do with a crypto exchange is another matter.
All of which should raise a question given the time of the life of FTX (2019-2022): to what extent was the network surrounding this institution useful in providing back-channel funding support for (and lack of opposition to) the most unprecedented attack on human liberty in our lifetimes? This question applies to both the direct political contributions and the various other donations to institutions and individuals.
Corrections to this list are welcome.
Family
Sam Bankman-Fried: Went to MIT, worked for Centre for Effective Altruism (fundraising 2017) and started Alameda Research in November 2017, and then the crypto trading company FTX two years later, which he ran until 2022 when it all collapsed after becoming the second-largest donor to Democrats ($38M).
Barbara Helen Fried: mother of Sam, Harvard Law graduate, professor at Stanford University, booster of Effective Altruism, and founder of Mind the Gap, a secretive political action committee in Silicon Valley.
Alan Joseph Bankman: father of Sam, Yale Law graduate and later clinical psychologist, law professor at Stanford, and author and expert on tax law.
Linda Fried: Sam’s aunt on his mother’s side and Dean of School of Public Health at Columbia University and on the board of the World Economic Forum’s Global Agenda Council on Aging.
Gabriel Bankman-Fried: Sam’s brother who ran Guarding Against Pandemics, a lobbying organization supporting “pandemic planning” also known as lockdowns and vaccine mandates. It has a Capitol Hill headquarters that cost $3.3 million. He previously served on a Congressional staff.
Associates
Caroline Ellison: Schooled at Stanford, she is daughter of Glenn Ellison and Sara Fisher Ellison, both professors at MIT. She became CEO of Sam’s Alameda Research and reported girlfriend of Sam’s.
Sara Fisher Ellison and Glenn Ellison: Caroline’s mother is professor of economics at MIT with a research specialization in the pharmaceutical industry while her father has written at least four papers on epidemiological modeling.
Nishad Singh: former MIT roommate of Sam’s who is said to have built the FTX platform. He seems to have left the Bahamas for India.
Zixiao “Gary” Wang: Co-founder with Sam of FTX and Alameda. He graduated from MIT and worked for Google. Beyond that hardly anything is known about him. He seems to have left the Bahamas and is reported to be in Hong Kong.
Ryan Salame: Graduate of UMass-Amherst and head of FTX Digital Markets, plus proprietor of R Salame Digital Asset Fund through the Berkshire Taconic Community Foundation, allegedly for charitable purposes.
William David MacAskill: real name Crouch, William is an author and philosopher and founder of the Centre for Effective Altruism and a close colleague of Sam’s. He served on the board of FTX Future Fund until it collapsed. He is a media personality who gives TED talks and is a leader purveyor of the view that one should get very rich and give it away.
Funded Institutions and Individuals (some taken from here)
Together Trial: This elaborate trial of therapeutics ended up inveighing against Ivermectin and Hydroxychloroquine and was generously funded by FTX. But that has been scrubbed from the public website. This is a continuing problem.
Moncef Slaoui: The head of Operation Warp Speed, he received $150,000 from FTX to write SBF’s autobiography, according to a Washington Post investigation.
HelixNano: A vaccine company that claims to be developing mutation-resistant vaccines, which received $10M in funding from FTX Future Fund, according to a Washington Post investigation.
Johns Hopkins Center for Health Security: This institution ran the Event 201 lockdown tabletop exercise in 2019, and received at least $175,000 for a single employee, from FTX coffers. We don’t know the full extent but it was enough for the head of the Center to defend Sam and FTX in public. Nor do we know Alameda Research’s funding reach of this institution.
Guarding Against Pandemics: Run by Sam’s brother Gabriel, this 501c4 gave at least $1M to campaigns in 2022. We do not know how much money Alameda/FTX funneled to this institution. Sam fequently recommend it as a target for charitable giving.
Protect Our Future: run by the two brothers, this PAC gave $28M to candidates in the 2022 cycle. We do not know how much Alameda/FTX gave.
Center for Innovation in Global Health, Stanford University: FTX and its network gave $1.5M to the institution.
ProPublica: A grant of $5M from FTX Future Fund. Other reports say $27 million.
Centre for Effective Altruism: FTX Future fund gift of $14M
Effective Ideas Blog: It promised to pay $1K to good blogs, and its Twitter frequently links to other institutions and individuals in the FTX network. Funded by Future Fund: $900K
Piezo Therapeutics: “Work on technology for delivering mRNA vaccines without lipid nanoparticles with the aim of making vaccines more safe, affordable, and scalable.” FTX gave $1M
Council on Strategic Risks: “a project which will develop and advance ideas for strengthening regional and multilateral cooperation for addressing biological risks.” $400K from FTX
AVECRIS Pte. Ltd: “support the development of a next-generation genetic vaccine platform that aims to allow for highly distributed vaccine production using AVECRIS’s advanced DNA vector delivery technology.” $3.6M from FTX
University of Ottawa: “a project to develop new plastic surfaces incorporating molecules that can be activated with low-energy visible light to eradicate bacteria and kill viruses continuously.” FTX gave $250K
1Day Sooner: “work on pandemic preparedness, including advocacy for advance market purchase commitments, collaboration with the UK Pandemic Ethics Accelerator.” FTX gave $300K.
SAGE: “creation of a pilot version of a forecasting platform, and a paid forecasting team, to make predictions about questions relevant to high-impact research.” FTX gave $700K
Longview: “global priorities research, nuclear weapons policy, and other longtermist issues.” Advisor: William MacAskill. FTX gave $15M
Confirm Solutions: “support development of statistical models and software tools that can automate parts of the regulatory process for complex clinical trials.” FTX gave $1M
Lightcone Infrastructure: “ongoing projects including running the LessWrong forum, hosting conferences and events, and maintaining an office space for Effective Altruist organizations.” FTX gave $2M
Rational Animations: “the creation of animated videos on topics related to rationality and effective altruism to explain these topics for a broader audience.” FTX gift: $400K
Giving What We Can: “to create a world in which giving effectively and significantly is a cultural norm.” FTX gift: $700,000
The Atlas Fellowship: scholarships for talented and promising high school students to use towards educational opportunities and enrolling in a summer program. FTX gift: $5M
Constellation: “support 18 months of operations for a longtermist coworking space in Berkeley.” FIX coughed up $3.9M
Longview Philanthropy: “creating a longtermist coworking office in London.” FTX committed $2.9M
Long Term Future Fund: “longtermist grantmaking.” FTX committed $3.9M
OurWorldinData: graphs and charts portal. FTX committed $7.5M
Institute for Progress: “research and policy engagement work on high-skilled immigration, biosecurity, and pandemic prevention.” FTX was in for $480K. Additional support came from Emergent Ventures, which was modeled on Fast Grants that funded Neil Ferguson’s pandemic modeling at Imperial College London, which seems to have an entangled relationship with the SFB empire, one yet to be fully disclosed.
Conclusion
What is listed above only scratches the surface of the admitted $160 million given out, but the promise had been for fully $1 billion to go to various nonprofits in this network that seems to be supported or even founded in order to receive money from FTX-connected institutions.
We could only list some of the names and a fraction of the dollar amounts. There are many other institutions and names that could be part of this list but we lacked enough documentation to verify for this article. There is still the task of listing all political campaigns that were in receipt of the money as well as the public-relations boosters of the whole effort.
Building off the success of Bill Gates, Sam Bankman-Fried, and his many associates, clearly saw philanthropy as the path to influence, power, and protection. At the same time, many nonprofit organizations saw an opportunity too; to build their own empires through promised millions and billions from a crypto genius in the Bahamas who had an unusual passion for pandemic planning.
For three years, many of us have wondered how it came to be that the critics of lockdowns and mandates were so few and far between. There are surely many explanations but, as usual, it helps fill in the dots to follow the money.
Author
From LifeSiteNews
Expenses for the Emergencies Act, the use of which a federal court ruled ‘not justified,’ included $17.5 million for a judicial inquiry, $400,000 for charter flights and $1.3 million for hotel rooms for out-of-town RCMP officers.
The Liberal government’s use of the Emergencies Act against the 2022 Freedom Convoy has cost Canadian taxpayers over $73 million thus far.
According to newly released records obtained by Blacklock’s Reporter, Prime Minister Justin Trudeau’s enactment of the Emergencies Act, the use of which has since been ruled “not justified” by a federal court, to drive out Freedom Convoy protestors from Ottawa in 2022, cost the Department of Public Safety $73,550,568.
According to Blacklock’s Reporter, the $73 million figure was part of records released by the department at the request of Conservative MP Ziad Aboultaif, and despite its high number, is not the final account.
“With regard to enactment of the Emergencies Act in 2022, what was the cost burden for the government?” Conservative MP Ziad Aboultaif asked.
“Cost associated with fiscal year 2023-2024 are still to be determined,” the department responded.
According to the Department of Public Safety, most of the public safety expenses were attributed to local authorities in Ottawa and Windsor, Ontario.
“It should be noted additional funding allocated by the government to Ottawa and its partners as well as Windsor were not specifically as a result of the Emergencies Act invocation but meant to compensate both municipalities for the extraordinary expenses incurred during and after the protracted blockades,” the report said.
Other expenses included $17.5 million for a judicial inquiry, $400,000 for charter flights, and $1.3 million for hotel rooms for out-of-town RCMP officers.
The costs were incurred after Trudeau enacted the Act on February 14, 2022 to shut down the Freedom Convoy protest which took place in Ottawa.
The popular protest featured thousands of Canadians calling for an end to COVID mandates by camping outside Parliament in Ottawa. Measures taken under the Act included freezing the bank accounts of Canadians who donated to the protest.
At the time, the use of the Act was justified by claims that the protest was “violent,” a claim that has still gone unsubstantiated.
In fact, videos of the protest against COVID regulations and vaccine mandates show Canadians from across the country gathering outside Parliament engaged in dancing, street hockey, and other family-friendly activities.
Indeed, the only acts of violence caught on video were carried out against the protesters after the Trudeau government directed police to end the protest. One such video showed an elderly women being trampled by a police horse.
Recently, Federal Court Justice Richard Mosley ruled that Trudeau was “not justified” in invoking the Emergencies Act.
However, the Trudeau government has doubled down on its heavy-handed response to citizen protesters, filing an appeal with the Federal Court of Appeal – a court where 10 of the 15 sitting judges were appointed by Trudeau.
From the Red Deer District Chamber of Commerce
The Red Deer and District Chamber has reviewed the federal budget and despite a few bright spots,
there are no efforts to boost productivity and innovation in the country which is sorely needed for
economic growth.
Scott Robinson CEO for the Red Deer District Chamber commented, “The budget’s tagline is “Fair-
ness for every generation”; however, it is unlikely that the spending will improve conditions and continuing to increase taxes and spending will simply add to the inflation and GDP stagnation that
we are facing, as public debt reaches record highs”
Highlights include:
• Carbon tax rebates are finally being introduced for small businesses (499 or fewer employees), with approximately 600,000 firms eligible for a share of $2.5 billion. Consumers began receiving these rebates over five years ago and now small businesses will finally see the return of some of the tax dollars collected through the carbon price’s fuel charge.
• A framework for open banking will allow consumers to easily access financial data across institutions, apps, and services. Specifics will be forthcoming before the end of 2024, but this could result in business opportunities and choices for consumers.
• The targeted 3.87 million net new homes by 2031 is a step toward combatting the housing crisis experienced in Red Deer and across the country. However, our city has yet to be successful in securing funding support through the Canada Mortgage and Housing Corporation’s (CHMC) Housing Accelerator Program, despite being the 56th most populated city in the country and a vacancy rate of 0.8 percent for 2023. We are hopeful to see additional federal investment in our city and have identified recommendations to all levels of government in the Chamber’s Homelessness Task Force Report.
Areas of particular concern:
• Increasing the capital gains tax through reducing exemptions is estimated by the federal government to bring in $20 billion in additional revenue over the next five years. The Red Deer Chamber of Commerce opposes increased taxation, especially when this represents an additional tax on already taxed income. This plan will likely result in decreased investment within the country.
• Deficits of $39.8 billion are projected for 2024-2025. The government also plans to spend $54.1 billion on debt servicing, with no plans at all to decrease total public debt. This amount equates to $2 billion more than is allocated to healthcare ($52.1 billion).
• $53 billion in new spending has been identified over the next five years. This continued spending and increasing debt will negatively impact investment and will continue to increase taxes for all.
“The federal government’s 2024 budget was an opportunity to enhance economic growth and set the country on a new path, toward prosperity and investment indicated Chamber CEO Scott Robinson. “In our view the initiatives suggested by the federal government will not benefit Red Deer and district, or indeed much of the country”. The Federal Budget presented by the Government yesterday just solidify how important it is for Chambers across Canada to advocate for economic growth, innovation, and productivity policies our country needs”.
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