Plunged into the darkness of a financial dystopia, the FTX affair takes on disturbing proportions with disturbing new revelations. Court documents reveal exchanges between the FTX Foundation and Gabe Bankman-Fried, Sam’s brother, regarding the acquisition of the island of Nauru to conduct mysterious experiments and survive “in the event of an apocalypse”.
FTX reaches dystopia
When power and endless money turn dystopia: According to new court documents relating to the collapse of FTX, it appears that an official of the FTX Foundation (a non-profit arm of the exchange) had texted with Gabe Bankman-Fried, Sam’s little brother, to buy the island of Nauru to carry out strange experiments.
The island, located off Papua New Guinea, would thus have aroused the interest of the youngest of the Bankman-Fried family to build a bunker there in case ” 50-99.99% of people died », in order to make the community survive ” effective altruists “, a current which Sam Bankman-Fried claimed, often excessively.
The memo also mentions the idea of ” develop reasonable regulations around human genetic enhancement, and build a lab there “, a note adding further that” there are probably other things worth doing with a sovereign country “.
According to other documents filed by the new management of FTX, we also learn that the FTX Foundation allegedly granted a $30,000 loan to an individual for the purpose of writing a book to determine the “ utility functions of human beings ». Another grant, this time for $400,000, was reportedly given to a YouTube video producer to fund animated videos to promote the current of Effective Altruism.
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Another troubled story
A former member of the Democratic Party, the little brother of Sam Bankman-Fried is also originally an organization called Guarding Against Pandemics, which aims to promote government investment in pandemic prevention. The organization has notably distinguished itself in supporting the Biden government’s $ 30 billion plan, which aimed to stem future epidemics.
Although Sam Bankman-Fried distributed several million dollars in order to finance the organization of his little brother, the latter has for the moment been spared by the FTX affair, insofar as nothing is directly reproached to him.
These revelations arose Thursday, when the new management of FTX filed a complaint against Sam Bankman-Fried and his main lieutenants, who are accused of having diverted the funds of their clients to make numerous dishonest financial investments. FTX hopes to recover a billion dollars as part of this file.
During the hearing, Sam Bankman-Fried was also accused of having illegally provided information to The New York Times to discredit Caroline Ellisonhis former partner and director of Alameda Research, while the latter was to testify against him.
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Source: CNBC
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Passionate about the world of decentralized finance and the novelties brought by Web 3.0, I write articles for Cryptoast to help make blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
Maximilien Prue
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