With SBF's Rapid Demise, Signs of a Clinton-Led Patsy Narrative Abound

Sam Bankman-Fried (SBF), friend of the Clintons and son of a powerful Democratic financier/bundler, was elevated on pretty much day one of the Biden admin. They wanted a patsy for the crypto industry?

A lot doesn’t add up in the rapidly unraveling empire of crypto early adopter Sam Bankman-Fried, and his Bahamas-based exchange, FTX.

Almost on the day Joe Biden was inaugurated, FTX starts to become more and more prominent in D.C.

Pictured above: SBF chilling with Bill Clinton… because, of course.

Bankman-Fried put himself at the forefront of many policy discussions, engaging with Maxine Waters and others who serve on powerful oversight committees in Congress. He also engaged with three letter regulatory agencies from a position of wanting to help regulators get it right, rather than from the position of suspect he is now likely to find himself in.

Atop the list of his Democratic connections in Washington, are the usually quite anti-crypto (in their rhetoric, at least) Clinton family.

For some reason, the Clintons had a special place in their heart for FTX and its idiosyncratic unkempt young chief executive.

Almost identical to the Pizzagate coverup narrative, where a patsy with a professional acting background (even has a IMDB page) and family members in the federal law enforcement community shot a single bullet into a pizza restaurant, harming no one — at which point a heavy-handed narrative was deployed by the presiding judge (who was none other than current Supreme Court Justice Ketanji Jackson) and colluding media — a narrative that the emails are so dangerous, to even read, because it would lead to people like the patsy doing dangerous things like firing a single shot into a mostly empty pizza restaurant, again harming no one.

CNN at the time suggested reading the emails might even be illegal.

On the face of it, nothing adds up.

We can’t read their weird pizza WikiLeaks, because a person might go crazy as a result? What kind of nonsense argument against public analysis of the WikiLeaks is that?

Well, it worked. For years, the coverup worked with surprising efficiency.

And on the face of it, little adds up here about FTX… the media and DC policy wonk know-it-alls are trying to erect the narrative that FTX is absolutely central to the entire crypto eco-system… and now nothing will ever, ever, ever be the same — like a kind of fiery crypto 9.11.2001 has just occurred with FTX’s fall, in their eyes.

Yet FTX isn’t all that central, it appears.

I’ve never used them. Not even once.

And they’re just an exchange. One of many. No one was using FTX as a long term storage option, and if they were, they were doing so against the better judgment of the entire crypto community — “not your keys, not your coins” as the ethos goes, and so on. The community has warned against the risk of trusting your balance to any one exchange, for years.

Was the community simply overdue for another Mt. Gox type situation?

It’s been almost 10 years since that fiasco.

The numbers involved may be much larger today, but the concept is the same: human greed is a thing, and when humans can engage in shenanigans without immediate consequences, they often do.

As this narrative accelerates, the important part to keep in mind: was FTX central to the crypto eco-system, and did anyone actually care about SBF?

Or is SBF a schlubby Clinton-groomed fall guy, propped up over the last two years to usher in rushed regulatory overkill before the central bankin’ child traffickin’ establishmentarian “deep state” families in Virginia and D.C. lose it all to a new financial framework they don’t understand well, and didn’t jump into early enough.

Time will tell, but follow this story with the caution of a person who has been lied to repeatedly for the last couple of years. Because they’ve lied to us repeatedly over the last couple of years, and they’ve shown zero interest in seeing any of us do well, monetarily or health wise.

The pizza heads are genuinely shook by crypto’s disruptive potential at this moment in time, and I see that — in some ways — as a positive.

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I’ll likely have more to say and share about SBF this weekend.