Billions of dollars have reportedly gone missing from Sam Bankman-Fried’s high profile company, FTX. As the best-known leader in the cryptocurrency world, Sam Bankman-Fried, often called SBF, used other people’s money to gain influence.
His so-called Effective Altruism approach deceived people to believe he made lots of money so that he could generously give it away. Instead, SBF illegally used investor money, allowing him to become the second largest Democrat donor.
This gave him favor with those paid to regulate his business. Many believe the government regulators overlooked SBF’s illegal activities due to his influence.
Proverbs 29:4 teaches, “By justice a king gives a country stability, but those who are greedy for bribes tear it down.”
Reportedly, a million investors have been devastated by SBF’s fraud, while many politicians benefitted.
