Posted BY: Renee Parsons
While the world’s largest cryptocurrency failure is in its early stage of bankruptcy, the FTX collapse is more complex than just extraordinary, remarkable wads of money, as they are accompanied by the mystique of an alleged Boy Genius who was a billionaire (not) by the time he was 30 years old. It remains an eternal puzzlement how any adult with half a brain could have relied on an overgrown adolescent with a massively exaggerated sense of self to handle more than a C-note, preferably one at a time. It defies coherent explanation — except the participation of politicians and bureaucrats blinded by the colossal greed from a novice charlatan professing altruistic inclinations as cover for his Ponzi scheme makes perfect sense.
On November 11, FTX founder Sam Bankman-Fried (SBF) resigned as CEO after revelations of massive insolvency and political largesse, having achieved the status of a big-time political roller bestowing millions of dollars on predominately Democrat political circles before and during the recent midterm elections.