“They are just pawns in a very large, very elaborate system that was designed to do money laundering,” he said. “It is certainly possible that there was an intent by someone to have this be an example set so that regulators could come in and punish the industry.”
Yusko suggested that the FTX collapse did not end with Bankman-Fried or his associate Caroline Ellison, the former CEO of FTX’s sister company Alameda Research. He implied that there could be more powerful entities conspiring to take down the crypto industry. “Politicians [got the funds],” Yusko explained. “Very large sums of money went to political candidates. There is evidence of [SBF] saying that he was going to give $1 billion in the next election.”
“Money was going straight from Ukraine and Zelenskyy to FTX,” he said. “That money [vanished through] personal loans to SBF, and massive donations to the Democratic Party.” However, Yusko said that although U.S. lawmakers would attempt to impose “onerous” regulation on crypto, it “won’t work.”
Disagree with the fellas evaluation,SBF is a fall guy … I think he is slightly Asperger’s, it doesn’t excuse what’s happened, but he ain’t the ring leader, the SEC have had over 10 years to sort out exchanges but they are a revenue collection agency taking heat off Gary Gensler