08-26-24 Target Victory RSO AM

A Look at Crypto & Other News

Author

Larisa Asanache
August 26, 2024

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More Fallout from FTX Collapse: Former Lobbyist Charged with Campaign Finance Fraud

In another stunning example of the rampant corruption that pervades the world of big tech and cryptocurrency, a former lobbyist for the now-defunct FTX exchange has been charged with campaign finance fraud.

Michelle Bond, 45, was accused by federal prosecutors in New York of violating campaign finance laws during her failed bid for Congress as a Republican candidate on Long Island. According to the indictment, Bond received a "sham $400,000 payment" from FTX - orchestrated by none other than Ryan Salame, an executive at the exchange and Bond's boyfriend.

This is just another thread in the tangled web of deceit and corruption that has come to light since FTX filed for bankruptcy nearly two years ago. As I've written before, the cryptocurrency industry is a Wild West of unregulated speculation and reckless abandon, where ethics are optional and greed is king.

And let's not forget the mastermind behind it all - Sam Bankman-Fried, the founder of FTX, who was convicted of fraud just last November and sentenced to 25 years in prison. The fact that his executives were making tens of millions of dollars in political donations while the company was secretly insolvent is a stark reminder of the dangers of unchecked power and influence.

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