{"id":1748230,"date":"2022-11-22T13:32:54","date_gmt":"2022-11-22T18:32:54","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1748230"},"modified":"2022-11-22T13:32:58","modified_gmt":"2022-11-22T18:32:58","slug":"left-of-center-media-accepted-millions-from-democrat-donor-and-disgraced-crypto-wunderkind-sam-bankman-fried","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/left-of-center-media-accepted-millions-from-democrat-donor-and-disgraced-crypto-wunderkind-sam-bankman-fried\/","title":{"rendered":"Left-Of-Center Media Accepted Millions From Democrat Donor And Disgraced Crypto Wunderkind Sam Bankman-Fried"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fleft-of-center-media-accepted-millions-from-democrat-donor-and-disgraced-crypto-wunderkind-sam-bankman-fried%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1748230&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The case of defunct <a href=\"http:\/\/dailywire.com\/topic\/cryptocurrency\" target=\"_blank\" rel=\"noopener\">cryptocurrency<\/a> exchange FTX and now-broke multibillionaire founder Sam Bankman-Fried is among the most intriguing stories of alleged financial crime in decades, rivaling the heists executed by financier Bernie Madoff and startup darling Elizabeth Holmes. Yet even as institutional investors, celebrity brand ambassadors, and thousands of retail users appear poised to lose <a href=\"https:\/\/www.dailywire.com\/news\/former-crypto-billionaire-sam-bankman-fried-whose-entire-fortune-just-went-to-zero-is-calling-around-for-new-investors\" target=\"_blank\" rel=\"noopener\">untold billions<\/a> with the bankrupt enterprise, a number of media outlets have handled the digital asset wunderkind with kid gloves.<\/p>\n<p>Bankman-Fried, the son of two Stanford Law professors with <a href=\"https:\/\/www.dailywire.com\/news\/mother-of-disgraced-crypto-billionaire-sam-bankman-fried-is-a-democratic-fundraiser-who-once-wrote-essay-blasting-personal-responsibility\" target=\"_blank\" rel=\"noopener\">deep-seated connections<\/a> to the Democratic Party, emerged as an overnight success three years ago. However, the nascent Bahamas-based cryptocurrency fiefdom <a href=\"https:\/\/www.dailywire.com\/news\/30-year-old-billionaire-loses-entire-fortune-overnight-as-his-bahamas-based-cryptocurrency-empire-implodes\" target=\"_blank\" rel=\"noopener\">collapsed<\/a> like a house of cards once users learned that trading firm Alameda Research, a company run by former Bankman-Fried <a href=\"https:\/\/www.dailywire.com\/news\/amphetamine-fueled-polycule-or-undersexed-group-of-nerds-inside-ftxs-bahamas-culture\" target=\"_blank\" rel=\"noopener\">love interest<\/a> Caroline Ellison, had allegedly transferred consumer holdings from FTX to make investments.<\/p>\n<p>A self-described \u201ceffective altruist,\u201d Bankman-Fried <a href=\"https:\/\/www.dailywire.com\/news\/here-are-the-democrats-and-republicans-who-received-campaign-cash-linked-to-bankrupt-crypto-empire-ftx\" target=\"_blank\" rel=\"noopener\">donated millions of dollars<\/a> to advance what he sees as the common good: supporting Democratic candidates and facilitating cryptocurrency transfers to the National Bank of Ukraine. When the world discovered that Bankman-Fried was only generous with other people\u2019s money, he willingly admitted that the Robin Hood charade was a ploy to earn the trust of \u201cwoke westerners.\u201d<\/p>\n<p>Several left-leaning media outlets seem to have <a href=\"https:\/\/www.dailywire.com\/news\/shameless-media-just-cant-quit-love-affair-with-crypto-creep-sbf\" target=\"_blank\" rel=\"noopener\">missed the memo<\/a>. In the days after the Bankman-Fried affair, which the attorney who once oversaw the fallout from Enron described as the <a href=\"https:\/\/www.dailywire.com\/news\/lawyer-overseeing-ftx-fallout-never-in-my-career-have-i-seen-such-a-complete-failure\" target=\"_blank\" rel=\"noopener\">worst case<\/a> of corporate malfeasance he has ever witnessed, The New York Times <a href=\"https:\/\/www.nytimes.com\/2022\/11\/14\/technology\/ftx-sam-bankman-fried-crypto-bankruptcy.html\" target=\"_blank\" rel=\"noopener\">posited<\/a> that the likely fraudster merely had \u201cambitions\u201d that \u201cexceeded his grasp.\u201d Forbes <a href=\"https:\/\/www.forbes.com\/sites\/davidjeans\/2022\/11\/18\/queen-caroline-the-risk-loving-29-year-old-embroiled-in-the-ftx-collapse\/?sh=15161c95791f&#038;utm_campaign=socialflowForbesMainTwitter&#038;utm_medium=social&#038;utm_source=ForbesMainTwitter\" target=\"_blank\" rel=\"noopener\">published<\/a> a glowing profile of Ellison as a \u201cmath whiz\u201d Harry Potter nerd rather than a probable co-conspirator. The Washington Post <a href=\"https:\/\/www.washingtonpost.com\/health\/2022\/11\/16\/sam-bankman-fried-ftx-pandemic-prevention\/\" target=\"_blank\" rel=\"noopener\">mourned<\/a> that Bankman-Fried could no longer pour millions into \u201cpandemic prevention.\u201d<\/p>\n<p>While some outlets remain entranced by the alleged cryptocurrency con man, others were even the direct financial beneficiaries of his \u201ceffective altruism.\u201d Indeed, the millennial spent millions capturing the allegiance of those who control the airwaves through a nonprofit organization called Building a Stronger Future, which he ran with the help of his brother, Gabe Bankman-Fried, a former Democratic congressional staffer and the director of Guarding Against Pandemics.<\/p>\n<p>ProPublica, an independent nonprofit newsroom that wishes to \u201cexpose abuses of power and betrayals of the public trust,\u201d <a href=\"https:\/\/www.propublica.org\/atpropublica\/bankman-fried-family-donates-5-million-to-propublica\" target=\"_blank\" rel=\"noopener\">accepted<\/a> a $5 million donation from Bankman-Fried earlier this year to fund the investigation of issues such as biosecurity, public health preparedness, and COVID-19. A spokesperson from ProPublica told The Daily Wire that the outlet received one-third of the donation in February, while the next two installments are \u201con hold at this time.\u201d<\/p>\n<p>The Intercept, which claims to be \u201cdedicated to holding the powerful accountable through fearless, adversarial journalism,\u201d was <a href=\"https:\/\/twitter.com\/davidsacks\/status\/1593724962195607553?s=43&#038;t=8uzNU6S7XpDgtikubkiLcw\" target=\"_blank\" rel=\"noopener\">approached<\/a> by Bankman-Fried earlier this year with a $4 million grant meant to buoy the outlet\u2019s reporting on \u201cbiosafety and pandemic prevention.\u201d The company received $500,000 in September and has been \u201cadvised that the grant is now on hold,\u201d according to a statement provided to The Daily Wire by a spokesperson from The Intercept, which <a href=\"https:\/\/theintercept.com\/2022\/10\/16\/democratic-party-progressive-israel-aipac-dmfi\/\" target=\"_blank\" rel=\"noopener\">disclosed<\/a> the support in subsequent articles about the possible financial criminal\u2019s political connections.<\/p>\n<p>Vox, the outlet which easily persuaded Bankman-Fried to admit that his benevolence was a ruse, received a grant from the philanthropist for the Future Perfect initiative, under which writers \u201ccarve out a space, away from the regular news cycle, to cover and think about crucially important issues that are currently undercovered.\u201d Bankman-Fried was <a href=\"https:\/\/www.vox.com\/2020\/1\/7\/21020439\/support-future-perfect\" target=\"_blank\" rel=\"noopener\">prepared<\/a> to fund \u201ca project on technological and innovation bottlenecks that hamper human progress.\u201d The grant was awarded in August, but the program is now on pause, a spokesperson for Vox confirmed with The Daily Wire. Vox has likewise <a href=\"https:\/\/www.vox.com\/future-perfect\/23462333\/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy\" target=\"_blank\" rel=\"noopener\">disclosed<\/a> the connection in reporting on FTX.<\/p>\n<p>Vox, ProPublica, and The Intercept all declined to comment when pressed by The Daily Wire if they would commit to returning or otherwise dispensing the contributions they have already received from Bankman-Fried. Spokespeople for Forbes and The New York Times confirmed that their outlets did not receive contributions from Bankman-Fried or Building a Stronger Future, while The Washington Post did not return a request for comment.<\/p>\n<p>The collapse of FTX will surely remain in the national conversation throughout the coming months as the House Financial Services Committee prepares to host a <a href=\"https:\/\/www.dailywire.com\/news\/bipartisan-committee-to-hear-from-sam-bankman-fried-and-crypto-allies-next-month\" target=\"_blank\" rel=\"noopener\">hearing<\/a>\u00a0on the defunct cryptocurrency platform. The Justice Department and the Securities and Exchange Commission are likewise preparing investigations into the Bankman-Fried empire.<\/p>\n<p>As lawmakers and regulators attempt to make heads and tails of the digital coin company, it is uncertain whether media companies are prepared to do the same.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The case of defunct cryptocurrency exchange FTX and now-broke multibillionaire founder Sam Bankman-Fried is among the most intriguing stories of alleged financial crime in decades, rivaling the heists executed by financier Bernie Madoff and startup darling Elizabeth Holmes. Yet even as institutional investors, celebrity brand ambassadors, and thousands of retail users appear poised to lose &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1748233,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1748230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1748230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1748230"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1748230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1748233"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1748230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1748230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1748230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}