Crypto Crash

Sam Bankman-Fried is hardly a household name. But the 30 year-old cryptocurrency kingpin was a big Democrat donor and well-known around Washington, D.C. 

With an estimated net worth of approximately $16 billion, the $40 million he spent this year, virtually all of it on left-wing candidates and causes, was a drop in the bucket. Bankman-Fried is all in on the woke ESG agenda, and he had bragged about spending $1 billion in 2024 to stop Donald Trump from winning the White House again.

Well, that’s not going to happen. Bankman-Fried filed for bankruptcy last week after his cryptocurrency exchange crashed and burned. There are reports that $1 billion of investor money is missing.

There are all kinds of regulators in the Biden Administration going after just about every U.S. industry – energy, auto manufacturing, farming, pharmaceuticals, etc. There’s been lots of talk about regulating crypto currency, but it just never seemed to get done. One has to wonder how much of that $40 million Bankman-Fried spent this year was buying protection for his company.