The more we know about the FTX scandal the worse it gets…
According to a recent piece from Politico, FTX had a secret backchannel to the Biden white house via Sean McElwee and his organization, Data For Progress.
Just 1 day after the collapse of the prominent crypto exchange, McElwee shut down the channel…
We previously reported that FTX likely represented a way for Democrats to launder money to their pet proxy war in Ukraine.
There are many red flags including Gary Gensler’s secret meetings with the firm, hundreds of millions in political donations, and troubling relationships between Bankman-Fried of FTX and the mainstream media.
Despite this potentially being the biggest scandal of our time, much of the corporate media has remained woefully silent on the political implications caused by the fallout from the FTX collapse…
Instead, they have mostly decided to cover the criminal proceedings, financial implications, the fate of crypto—even the political donations, but not the Biden-Ukraine connection…
Here are the latest developments and reports in the ongoing FTX scandal:
Sean McElwee had a Slack channel at DataForProgress “that became a rolling convo between McElwee, Biden Admin officials, & some well-known reporters” & “the day after FTX filed for bankruptcy & SBF resigned as CEO, McElwee abruptly shuttered the channel.”https://t.co/dufXMNGCty pic.twitter.com/O2ZXi5iZrx
— Jerry Dunleavy 🇺🇸 (@JerryDunleavy) December 22, 2022
Leftist Politico alleges:
McElwee is a well-known progressive activist who started the “Abolish ICE” movement and in 2018 founded Data for Progress, a progressive think tank with an emphasis on influencing public policy through polling.
DFP quickly embedded itself into the top layers of the Democratic firmament. More recently, McElwee became a close political ally and adviser to FTX founder SAM BANKMAN-FRIED. (They were connected through Shor, according to a friend of both men.)
McElwee had easy access to the White House and the press. And he made sure they had access to him. He kept an open Slack channel at DFP that became a rolling conversation between McElwee, Biden administration officials and some well-known reporters — a kind of JournoList for the early 2020s.
On Nov. 12, the day after FTX filed for bankruptcy and SBF resigned as CEO, McElwee abruptly shuttered the Slack channel. Six days later, he and Data for Progress began negotiating his exit from the firm he had built.
DNC just agreed to return $815,000 in donations it got from FTX that Sam Bankman-Fried stole from investors.
This is only after today a list of Democrat benefactors was released.
Why is Biden still refusing to say if he’ll return millions in stolen property he got from SBF?
🤔
— Paul A. Szypula 🇺🇸 (@Bubblebathgirl) December 17, 2022
Zelensky: I need $40 billion in tax dollars
Biden: Why
Zelensky: FTX Crypto Scam, you get half
Biden: Make it 60% and you got a deal!— Garland Nixon (@GarlandNixon) December 22, 2022
Red State Observer asks:
To say there are a lot of red flags with this situation is to understate things dramatically, and the questions surrounding the administration’s involvement become obvious with this news.
What exactly was McElwee, operating as an advisor to Bankman-Fried, passing along to the White House?
What exactly was the White House telling McElwee? Were they coordinating donations? Discussing messaging? Trading favors and influence? Or was there something even more sinister going on?
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