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stepping up probes into the biden white house. and into the biden family becoming millionaires selling access to the biden family name, the gop says in 50 nations. with us tonight congressman byron donalds pat fallon jeff van drew, former acting it dhs secretary chad wolf, dustin carmack, former economic advisor to president trump, steve moore, top crypto official, gabriellela cruz and gop strategist ford o'connell. we have breaking news. we're digging into the documents. shocking new details in the massive fraud at ftx its ceo democrat megadonor sam bankman-fried personally took out a one billion dollar loan. he took it out of his company. then he donated millions to democrats. he packed his ftx board with powerful d.c. insiders including former cftc officials all in order to pressure the

administration and congress to weaken oversight. the company also blue investor mon on luxury homes in the bahamas. i testified before congress and covered corporate accounting scandals like this at "wall street journal" and for example. what is going on here really strings to high heaven. a gop senator says homeland security is trying to widen its censorship what it deems misinformation. reports that a democrat fund-raising group linked to hillary clinton is trying to get twitter size advertisers to boycott twitter. seven democrat senators urged sec to probe elon musk for quote undermining twitter but no talk about ftx. i'm elizabeth mcdonald. "the evening edit" starts right now. ♪. elizabeth: well look who is joining us back with us now congressman byron donalds from

house oversight. what a day, congressman. it is good to see you. can we first talk about what is going on with the targeting of the probes in the house. what is going to be handled first? is it going to be the biden family or how the government handled the pandemic or botched withdrawal from afghanistan? which comes first? look to be honest with you, first of all, good to be back with you. elizabeth: same here. >> what will be covered, we'll cover it all. house republicans we know how to watch and chew gum at the same time. i want to be sure the american people understand while we have investigations into joe biden and all of the business, business schemes and pay-for-play schemes that might be going around his administration we'll take care of the other stuff as well. i want to make sure people understand we'll not leave that stuff off the table but the reason why this is mission critical is because joe biden's energy policies in particular but his economic policies overall in our viewpoint

actually favor the chinese government. when you bring into play the business dealings of hunter biden and his brother jim biden, it paints a terrible picture for the united states and a picture of influence that goes all the way to the top. elizabeth: i mean the allegations are wire fraud, conspiracy to commit wire fraud. the allegations are serious that the house gop is alleging about the biden family. it is also based on bank records, that they're pulling out of the treasury department. they're saying that the biden white house and the treasury department is blocking those suspicious activity reports on those transactions and more. what is happening here? >> oh, that is absolutely correct. let me ex-. upon this. congress used to full access to these sars reports that banking institutions create. they're called suspicious activity reports. most people in their entire lifetime may never trigger one sars report.

hunter biden is involved in at least 150. so under the bush administration, the obama administration, and the trump administration, congress had access to these reports. when joe biden became president of the united states, he changed the rules so congress cannot see these reports anymore. i don't know what that sounds like to you but that sounds fishy. so what we're going to do is dig into that and many more things wherever the investigation takes us. elizabeth: talk to us about the energy deals. we've been covering this with congressman comer. the working on a scheme to get china to basically buy liquified natural gas, to help china do that, to buy gas reserves out the u.s. states and help china buy one of the largest cobalt mines in africa. that is what hunter biden was allegedly doing. that seems like serious stuff. >> it is incredibly serious. anybody who subscribes to the green new deal you have to understand you need cobalt to

make batteries and to make solar panels. china dominates cobalt mining across the globe. "the new york times" reported a couple years ago that hunter biden wasn't matley involved with the sale of a cobalt mine in the democratic republic of of the congo to a chinese firm. hunter biden was doing this. he has no expertise. now we're finding out that he was also involved with giving background information and getting data on potential sales of liquified natural gas mines for chinese company at the same time that joe biden is trying to shift the energy matrix in the united states to batteries and solar panels. this reeks of collusion but what house republicans are going to do is investigate and let the evidence speak for themselves. elizabeth: let let's listen to congressman jim jordan. he is talking about the politicization of the justice

department when it comes to hunter biden and the hunter biden story. >> they suppressed information about the hunter biden story. in 2022 they raided president's home 90 days before an election. maybe would be nice if the fbi and justice department let people decide ho we think should represent us, who should lead us. that should be "how america works." this is the focus of judiciary committee, politicization of the justice departments and linking to hunter biden story. elizabeth: the details, congressman, i want to hit this, while vice president bide was leading ukraine policy for the obama white house hunter biden worked in ukraine at that energy company burisma, sat on the board. there is evidence also that hunter biden simultaneously courted, was trying to get business in russia. in the wake of russia's invasion into ukraine, the united states sanctioned russian oligarchs, but not those who sent money to hunter biden and biden family.

>> all what you said is absolutely correct. which is why it is important for us to get to the bottom of this. we are actually facing many crises here in the united states. number one, there are foreign policy issues that are flanking us across the globe that are serious. number two, we have and energy problem here in the united states. we know about the diesel shortages coming. one of the issues with diesel that you need an additive. most of that additive is actually made in russia. that is a serious issue, along with everything else going on with inflation. elizabeth: okay. >> our job is hold the administration accountable. if there is nothing to see there, the administration should have nothing to hide but what we've seen the administration has put up blockade, after blockade for us to get information congress needs for real oversight. elizabeth: jim jordan and congressman comer sent letters to the fbi director, treasury secretary janet yellen, national archives. looks like hunter biden's former business partner, former rather investment manager. talk about these other hearings. you know we're also looking at

trying to ascertain what the gop is going to be, what is coming up first. so you know, congressman, to your point, inflation. government spending, fueling record inflation. the fallout of the left's policies. you know you see, you know, weak on crime philadelphia d.a. larry krasner just got impeached by the house, statehouse in pennsylvania. california is projecting 25 billion-dollar budget hole t blew that out as businesses and people flee the state. when you consider the lay of the land across the nation and what you think is most important that they need to hear now about what was going on, is going on in the biden administration, again, what is going to be teed up first? >> well obviously we talked enough about the biden family but what is also coming is, investigations into the department of justice and into the fbi. right now we have about 14 whistle-blowers. that list is actually growing of people who work in these

agencies, who are very concerned about the politicization of those agencies. and that speaks to the very core of our system of government. but then there will be other things we have to get into. obviously what is going on with afghanistan, the fallout there. what is happening with ukraine. $83 billion plus that the american people have sent over there. we need oversight of those dollars. last but not least we'll get into border security. we heard stories last week about alejandro mayorkas trying to force out the commissioner of border patrol because they have failed the american people when it comes to border security and there is going to be much, much more. don't forget them suppressing articles and suppressing stories that will actually favor the democrats. a lot of stuff needs to be investigated. elizabeth: possible impeachment? >> right now i want to tell everybody crystal clear we'll let the evidence take us to its natural conclusion. we'll not act like the democrats. elizabeth: of biden team

officials. of possibly coming up. congressman donalds, good to see you. thanks for joining us. great to have you on. >> thank you. >> we'll stay on the house gop serious allegations into how the bidens became millionaires simply selling access to the biden family name. we're talking 50 nations around the globe. plus "evening edit" doing a deep into the documents. massive details about the fraud ad ftx. ad ftx. steve moore with me next on "the evening edit" this is financial security. and lincoln financial solutions will help you get there. as you plan, protect and retire. ♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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took my shirt off for the first time in 25 years. it's golo. it's all golo. it's smarter, it's better, it will change your life forever. ♪. elizabeth: it is being called an enron and bernie madoff style fraud at crypto exchange ftx. those are the allegations. this company and its founder had deep ties to democrat politicians, family too. it is called a train wreck inside of a dumpster fire inside of a nuclear meltdown. this ftx contagion is spilling across d.c., not just the cryptocurrency world. hillary vaughn has the story on capitol hill. hillary. reporter: liz, ftx founder sam bankman-fried is taking incoming from everybody. not only is the fbi in talks to possibly extradite him from the bahamas, to bring him to the u.s., investors that got fleeced

are suing him in a class-action suit. both senate and house committees announced hearings into ftx fall from grace an bankman-fried is finally speaking out. his question, f regulators. bankman-fried unloaded his real thoughts what wrong saying this. f regulators, they make everything worse. they don't protect customers at all. lawmakers disagree. the top lawmaker on the house financial services committee they need to act because the regulators dropped the ball. >> current regulators in this current a administration is not doing anything to protect consumers. in fact made things worse. reporter: bankman-fried admitted he mistakes not ones you probably think. telling a reporter a biggest single f-up was filing for chapter 11 bankruptcy. liz? elizabeth: here is steve moore.

democrats are not returning campaign donations. some are giving them to charity. this guy running the bankruptcy, the guy running it, he liquidated enron. he is saying he is speechless. never seen anything like it, steve. walk you through the numbers. throwing money into a furnace. only 740 million lower case magic beans cryptocurrency left 10 billion to $50 billion in liabilities, sieve. >> so this was the classic ponzi scheme. we saw this 15 years ago you know with the bernie madoff scandal. don't forget, liz, guess who gave all his campaign contributions to? democrats. amazing how many of these crooks are big democrat campaign contributors. now here is the important thing about this. this was money basically defrauded from investors t was a fraud scheme. he is a criminal this is a

crime. it was theft. elizabeth: we got to go through the bankruptcy filing. this guy, steve, he personally, sam bankman-fried, he took a billion dollar loan out of alameda research that is ftx sister company. his cofounder took out half a billion dollar loan. company money was blown on luxury homes in the bahamas. there was no accounting department. even no listing of customer liabilities on the financial statements. we know he took from peter to pay paul 8 billion, but he packed his ftx board with ceftc officials that worked under george w. and under obama. even a former of the chair of house agricultural. he sat down, met with the biden white house,cttc and congress to weaken the government oversight of crypto exchanges. >> he was, basically what you're saying, he was buying off these democrats to give him cover. now what i, the first important point is, that it is, it is so

matter of moral ethics that these democrats who received -- we don't know the exact amount of money but it was well over $50 million that was basically given to democratic campaign, campaigns. those candidates have a moral responsibility and maybe a legal responsibility, i'm not a lawyer, to return that money. it should go into a fund to, so that that money can be returned to the investors. the democrats are resisting that, liz. they don't want to do it. elizabeth: why? here's the thing. i covered corporate accounting scandals. it is circular. here is what goes on. ftx gave big campaign donations to politicians. then they lobbied lawmakers and government officials, also congress. >> right. elizabeth: congress approves the budget and paychecks for those market cops. he was hiring cftc market cops to sit on the board. so you see how it is circular.

you know, so what is going on -- >> yes. elizabeth: demanded cftc be the only regulator, not the sec. that the cftc alone would directly, only them would clear his company's crypto trades. no middlemen, no guardrails, no intermediaries. he wanted to us algorithms rather than brokers to help clear trades. >> by the way this is exactly what happens over time with almost all regulatory agencies. they get captured by the industries that they're supposed to be regulating, right? this has been happening for 40 years. this is just an extreme example. i got to tell you, this isn't the only company that is doing this. so there is two issues. one is, the we have to keep pressure, i hope you will at fox news, fox business, keep pressure day after day that these democrats have to give the money back. number two, i'm not convinced that more regulation is the issue here. we had a major financial scandal

in 2008 which was the one of the biggest financial scandals in history with the housing crisis, that was the most regulated industry at all. the housing mortgage industry was basically run by the government. i'm not one who says we have to run in regulate the cryptos because the problem with that, liz, i'm on the board of a crypto company, the reason that investors like cryptos is because they are not held by government. they are alternatives to the federal reserve and the central bankers and fiat currency. we'll see how all of that einvolves. this is a megascandal that is right at the doorstep of the democratic party. elizabeth: steve moore, come back soon. great to have you on. good to see you. >> thanks, liz. elizabeth: we have a new charge from a gop senator, senator lankford. he is saying homeland security is again trying to widen its censorship of what it deems disinformation. and serious allegations staying

on it, how the bidens became millionaires simply selling access to the biden family name around the globe. the gop says now it is 50 nations. more than four dozen nations this is a top investigation for the house. we asked you on twitter your thoughts. more than 3/4 of you thinking yeah, this should be the top priority for house oversight. follow us on twitter @eveningedit. be a part of our next poll. track us, follow us, watch us. we're doing some pretty good stories. we hope you're happy with it. we'll be right back. kevin! kevin? oh nice. kevin, where are you... kevin?!?!?.... hey, what's going on? i'm right here! i was busy cashbacking for the holidays with chase freedom unlimited. i'm gonna cashback on a gingerbread house! oooh, it's got little people inside! and a snowglobe. oh, i wished i lived in there. you know i can't believe you lost another kevin. it's a holiday tradition! that it is! earn big time with chase freedom unlimited. ♪

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♪. elizabeth: okay. house republicans stepping it up with their wide-ranging investigation into the biden family. they're talking allegations of wire fraud, conspiracy and sex trafficking. this as nancy pelosi announces she will step down from her house democrat leadership role. we've got fox news senior congressional correspondent. he is chad pergram live on capitol hill with more. chad, it is good to see you. reporter: likewise, liz. with the house about to be in gop hands a generational change on capitol hill. house speaker nancy pelosi and long time lieutenant steny hoyer both announcing they will step down from their leadership positions. pelosi quoted ecclesiastes, for everything there is a season. >> there is no greater official honor for me to stand on this floor and speak for the people

of san francisco, and with great confidence in our caucus i will not seek re-election to democratic leadership in the next congress. reporter: pelosi and hoyer led house democrats for two decades. they have a rivalry which dates back when they interned together in the same senate office in the 1960s. both will remain in congress as rank-and-file members. >> i think it is always good for a party to have new blood and new invigoration and enthusiasm and new ideas but i think it is time. you might not have heard i'm 83. reporter: fresh off claiming the majority incoming gop chairman unveiled their agenda making good on promises to investigate the president and his family. >> to be clear joe biden is the big guy. this evidence raises troubling questions about whether president biden is a national security risk. and about whether he is compromised by foreign government. reporter: comb her says whistle-blowers say the

president's son hunter biden and relatives benefited financially. they want to know how deeply president biden may have been involved with his son's business dealings. incoming judiciary committee chairman jim jordan demands answers from the department of justice over how it handled the hunter biden probe. >> it would be nice if the fbi, the justice department just stayed out of it let we the people decide who should represent us this is the focus on judiciary committee. the political nature of the justice department and the linkage what was happening with the hunter biden story. >> reporter: while republicans set their agenda democrats seek new leaders. hakeem jeffries of new york is favored to become the top house democrat. chuck schumer is back as senate majority leader. mccarthy haggle with two democratic leaders from brooklyn. liz? elizabeth: we have congressman

pat fallon. talk about this first. before the midterms polls showed people were really worried about inflation and the supply chain. what are you guys going to do about that? >> well, with inflation, liz, the number one thing we're going to do is not have trillion dollar spending billions outside of the budgetary process like joe biden has done and the democrats done on the hill. that stops immediately. so they will have to negotiate with us now, liz. they will have to acknowledge our existence. four million people, four million more people voted for republicans to be members of congress than democrats. i think the will of people will be heard. elizabeth: how will you fix the supply chain? how will you fix the supply chain? >> that is difficult. the executive branch the treasury, transportation secretary, mr. buttigieg who has no experience in the private sector. elizabeth: there is trucker

shortage. how will the gop fix the trucker shortage? >> that will be difficult to do with only one of three levers of power. we'll make sure the democrats don't make it worse. we can give them advice. there is a way to drag your feet four months until you go on a 24 hour cycle at the ports. they should have been doing that long before when they were unloading all the stuff. elizabeth: we're heading into a deeper downturn. there are tens of thousands of layoffs. listen to congressman comer and jim jordan what is going on with probes into hunter biden and president. watch this. >> this is an investigation of joe biden, the president of the united states why he lied to the american people about his knowledge and participation in hills family's international business schemes. national security interests require the committee conduct investigation and we will pursue all avenues, avenues that have long been ignored. committee republicans have identified over 50 countries the biden family sought businesses

in on the international side of the biden family business, among dozens of shell companies the bidens set up. there were millions of dollars of wire transfers, flights on air force two to conduct personal business and meetings with heads of state while joe biden was aware of what was happening. all the while he turned a blind eye. the bidens flourished and became millionaires by simply offering access to the family. as parts of our investigation we have evidence that the finances credit cards and bank accounts of hunter and jobe were comingled if not shared. and on some accounts red flags were raised by banks to the account owners indicating suspicious or illegal activity. protecting the president's son with american taxpayers is a waste. a scheme that promised access to wealth in a future biden administration constitute fraud and the president's participation in enriching his family in a word is abuse of highest order. elizabeth: if the biden family

so innocent, why is the biden treasury department hiding, not turning over the suspicious activity reports? they say they need to hold on to it for ongoing investigations but not stipulating that. this white house changed the rules on that. if there is nothing wrong then why not disclose them? >> well that is a classic case, liz, where there is smoke there is probably fire. i mean, suspicious activity reports, there is not one or two or five. there is 150 of them with, but the biden administration, biden syndicate rather have, that have filed on them. these financial institutions know that something's up. they don't want to have to file these sars but they had to do it with 150 times with the bidens. what are they hiding? joe biden said in 2019 when running for president, had no idea what hunter biden was doing. never met with any business associates. we know that to be a bold-faced lie. elizabeth: the other thing white house will say hunt hears

a drug addiction but the issue, we get that, if that is the case why was he allowed to do deals overseas with nations that are foreign adversaries like china and russia? if he had a drug addiction why was he sitting on the board of burisma, ukraine energy company? you know what i mean? >> sounds awfully fishy he is broke, has no ability to speak of, no skill set, suddenly in 2009 his father becomes vice president and here we have, then they become millionaires. elizabeth: congressman fallon, thanks for joining us, good to see you. we have reports coming in a democrat fund-raising group linked to hillary clinton tried to get twitter advertisers to boycott twitter after elon musk took it over. seven democrat senators urging the ftc to probe twitter accusing of course of undermining twitter this new charge from a gop senator that homeland security again is trying to secretly widen its censorship what it deems is

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♪. elizabeth: back with us now former acting homeland security secretary chad wolf. chad, it is good to see you again. what did you make of this story when you heard about it, senator lankford, he is a member of senate homeland security, he is saying that homeland security mayorkas, he wants to get information on why mayorkas is again secretly expanding dhs authority across several homeland security subagencies to do censorship and monitor disinformation on the internet? what's going on here? >> well i think the senator has got some legitimate concerns here that dhs secretary mayorkas needs to really come clean about obviously what we know, dhs looked at for ininterference, looking at cyberattacks, from

foreign adversaries. what appears to be happening what we're seeing, dhs looking at domestic issues, racial justice they talk about, origins of covid, efficacy of covid vaccine things of that nature. we're not talking about foreign interference. we're talking about domestic issues. that is concerning to a lot of americans if you're going to have dhs, a federal agency to say, hey, what is the truth and what is not the truth. we get very close to first amendment protected issues and freedom of speech. i think that is the most concerning thing we see here. elizabeth: to your point we talk about the pandemic, people were railroaded into thinking the vaccines were totally safe. it was about informed consent. now you have pfizer and moderna doing clinical tests about the side-effects including damage to the heart from vaccines, you know what i mean? "vanity fair" did an explosive expose' showing that the pandemic likely did leak out of the wuhan lab based on, based on

"the intercept"'s reporting archived on the internet what the chinese were saying to each other. this is weird mission creep. so the american people are supposed to be kept in the dark by what mayorkas thinks is the truth, the truth ministry, you know what i mean? >> i think this is the concerning part. the american people are not dumb. they can weigh both sides of the issue. they should be presented both sides facts, they can decide for themselves but to have a government agency say this is what is truthful, this is what is not, based on criteria unknown to the american people they are deciding on, perhaps because it fits a narrative they want, that is what is at issue here. so we need to have obviously that open press so they can certainly report on various sides of a particular issue. let the american people decide what they believe is the truth or not but not to have a government agency, particularly here in the domestic arena, saying, putting their thumb on

the truth scale there. >> other thing too is, why, why is mayorkas doing this? he faces possible impeachment. even the inspector general for homeland security says there is no need for any disinformation board to exist at all. we already have, we're spending tens of billions of dollars, taxpayers are, on public affairs offices in each agency. and know he needs another disinformation board? it teams like a total waste of money. feels like the american people, they are trying to keep him in the dark. weapon get it about, we get it about bad information on the internet. we get it about social media. you know what fixes bad information on social media? more information. not this. not censorship. >> that's right. i think, dhs was caught several months ago about this disinformation board. at the end of the day had to disband it, not only were they

getting criticism obviously from the left but also from the left. because the left also saw this was not needed. this has gone beyond the mission of dhs what they do every day to protect the homeland. so when you see that disinformation board dissolved, but yet you still see the department undertaking these types of events and you're saying to yourself, maybe they're still doing it without the board in the name. i think that is again what is the concerning part. it deserves some oversight. elizabeth: chad, final question, why is he monitoring the botched information about the botched withdrawal by the biden white house from afghanistan and now aid to ukraine to battle russia? why is mayorkas monitoring that? >> it is bizarre. it is bizarre. he needs to be questioned about that. why is that somehow dangerous to americans to understand why we would withdraw from afghanistan or aid to ukraine in what capacity? i think he needs to be held accountable to that. elizabeth: got it. chad wolf, always a pleasure to

have you on. thanks for joining us. we're digging into the outrage, digging into the documents in the ftx meltdown. we're digging into why sam bankman-fried was allowed to take a billion dollars, uppercase b as in boy, took a billion dollar loan out of the company? his cofounder took a half billion dollar loan out. there was company money blown on luxury homes in the bahamas and more. fried hired powerful d.c. insiders, former ceftc officials to increase his own wealth and power. reports that a democrat fund-raising group linked to hillary clinton tried to get twitter advertisers to boycott twitter after elon musk took it over. now we have seven democrat senators saying the ftc has to probe twitter and musk over there? why not, why not ftx? former dni chief of staff dustin carmack, ford o'connell sticks with us next on

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elizabeth: okay. joining us now, former dni chief of staff. he is dustin carmack. gop strategist ford o'connell. always great to see you guys. dustin, first to you. so we've got seven senate democrats, seven democrat senators sent a letter to the ftc saying you have to probe elon musk an twitter. that elon musk is undermining twitter urging the sec to investigate that but no talk about ftx if? right where was the outrage twitter six months ago, peter "mudge" was talking about possible foreign agents working at twitter. where is the outrage when it comes to tiktok? they don't want to essentially rid, their teenyboppers from their constituencies whereas a chinese-owned company with bytedance. these are par for the course where the outrage is really

dictated by politics and not good policy. elizabeth: to what dustin is saying what do you think, ford? we've got this democrat fund-raising group linked to hillary clinton's non-profit, onward together. this other thing, accountable tech, it is setting letters to twitter advertisers saying you got to boycott twitter because of elon musk taking it over? >> dustin is absolutely right. it is no secret. it is the worst-kept secret in washington. democrats want to see elon musk twitter experiment fail, the reason is simple. democrats are petrified if elon musk is successful they will no longer be able to control the information flow online, censorship. that as a result will lose power. they're bullying advertisers because twitter is a cash crunch. they make 4.5 billion annually from advertising. they feel essentially if they squeeze the advertisers that elon musk will fail. elizabeth: what do you think of what ford just said, does tin? so the tolerant left, are pretty intolerant and bullying when it

comes to differences of opinion. they can't stomach it. they can't tolerate it, right? is that what is happening here? >> this is exactly what chad wolf was also highlighting earlier with regards to disinformation boards or fact-checking programs. you name it, just one thing after the other in terms of how can you force the speech that you want to see in public. elon only thing he is saying is, you know, i'm probably going to irritate people on both sides of the spectrum on the far right and the far left but we need to have conversations in this country. elizabeth: listen, the cure, the fix to bad speech is better speech. you don't do censorship. ford, we've seen that. we've seen people say on msnbc and cnn, oh, conservatives were not censored on twitter, nothing happened. we've been reporting about the deplatforming and knocking out conservative figures, totally, not trump, others conservative figures, totally deplat formed and censored and knocked off of twitter. >> that is exactly right this is

all about political power, liz. democrats only want to hear speech they like and they agree with which is absolutely amazing when you think about the democrat party, they used to be part of the free speech and aclu. this is about cancel culture totalitarianism. elizabeth: we'll have you back on pretty soon that was great stuff. good to hear you both. >> thank you. >> more shocking details we're finding, breaking news in "the ft" x melt down. we're finding its ceo and democrat megadonor sam bankman-fried took out a billion dollar loan from the company. his cofounder took out a half a billion dollar loan. fried packed the board with d.c. officials like former ceft guys in order to pressure biden and congress to weaken government oversight to increase his power and right. we have a cryptocurrency expert

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well, we fell in love through gaming. but now the internet lags and it throws the whole thing off. when did you first discover this lag? i signed us up for t-mobile home internet. ugh! but, we found other interests. i guess we have. [both] finch! let's go! oh yeah! it's not the same. what could you do to solve the problem? we could get xfinity? that's actually super adult of you to suggest. i can't wait to squad up. i love it when you talk nerdy to me. guy, guys, guys, we're still in session. and i don't know what the heck you're talking about. elizabeth: we have more shopping details on collapse of ftx crypto exchange. kelly o'grady in los angeles with the latest. reporter: good evening, this story is just so stunning. because of the people involved. now we're learning more

about sam bankman-friedy family and their ties to democrats. former founder's father helped senator warren draft a t tax bill. his crypto team is drawing scrutiny. many had two to three years of experience before managing billions and his rumored ex girlfriend sharing that only elementary math was needed. never in my career have a seen such a complete failure of corporate controlled in hands of a very small group of inexperienced. unsophisticated, preliminarily compromised individuals. you do research before you

investment the due diligence was not there. elizabeth: kelly thank you so much. >> welcome back congressman jeff van drew and gabriella kusz, thank you for joining me. congressman, you heard that hospital, now called enron madoff fraud. i have covered corporate accounting scandals, sam bankman-fried took a billion dollar loan out of a ftx sister unit and his cofounder a half billion, then donates tens of millions to democrats. and luxury money blown in the bthe -- ab bahamas. >> this is staggering. when i think you see everything it is worse, you worry about getting up in the morning, what is -- this is like a ponzi scheme, what is disturbing that money is

circular. what happens. ukraine is involved as well, ukraine was dealing with this bad actor, making exchanges, he uses money tax money, i think and donates it to democrats, that really has to be really -- elizabeth: should they give the money back. >> he should give the money back and go to jail, this is unbelievable, unbelievable that democratic party is involved. everyone should be talking about this. elizabeth: gabriella kusz, what do you think of this, he didn't have an accounting department, he packed his board with former house g.o.p. lawmaker, then sat down with biden white house, said wanted cftc to regulate

him. nobody else. >> there is really no other word than heartbreaking. some of the most heartbreaking parts are that now affecting retail consumers. and also all of the good ddigital asset businesses that tried to build themselves in a way that is regulatory come -- ccompliant. right now we're at a pivotal stage to draw good industry actors together who are disgusted with how this firm has behaveed and bring forward a s set of core principles. elizabeth: what is also

disgusting he manipulated lawmakers in dc, pressuring them to weaken oversight. congressman. >> this is what makes me sick. this is what -- you talk about the swamp, you hear about the swamp, this is the swamp, this stink from these people who do this to our american taxpayers. who do this to good honest people that made investments, this is so awful, and really -- i think it is going, i think one thing congress house of representatives will do is look into them. elizabeth: congressman vand drew and gabriella kusz thank you. >> thank you for joining us, join us tomorrow night, have a good evening. ♪ ♪ kennedy: lead the fireworks begin house republicans fresh off midterm majority win, promising a b