Unsurprisingly, disgraced FTX CEO Sam Bankman-Fried was one of the most prolific Democratic donors in recent months.
According to Fox News, Bankman-Fried spent at least $38 million promoting far left causes this election cycle.
The FTX founder was also the second biggest donor to Democratic political action committees, behind George Soros.
One specific political action committee designed to elect Democrats received $27 million from Bankman-Fried.
He also donated to committees aligned with Nancy Pelosi and Chuck Schumer to help Democrats in the House and Senate.
FTX and Bankman-Fried espoused “effective altruism,” that amassing huge wealth isn’t greedy if you’re smarter than other people.
By using their money to support the “correct” causes, billionaires can help make the world a better place. It’s just that the “correct” causes always somehow seem to align with whatever the Democratic Party wants.
FTX’s philanthropic wing, the Future Fund exemplified that ideology. The Future Fund was, according to their website, designed to combat climate change and “improve humanity’s long-term prospects.”
Instead, the organization has already collapsed as there’s no money to complete remaining projects.
The Future Fund isn’t the only FTX connected collapse.
Friday, the Miami Heat announced their deal with the crypto exchange had been terminated as a result of their bankruptcy.
Multiple other partnerships are almost certainly soon to follow.
Like many of his Democratic donor compatriots, Bankman-Fried was a blatant hypocrite. While claiming to care about humanity and “altruism,” his mismanagement has had devastating consequences.
Individual investors have seen their money vanish, thanks to his incompetence and lies of omission.
“Effective altruism” indeed.