sam bakeman freed wants yoheu to invest. he elon musk didn't get to be the richest man on the planet by investing in things liking ip that. so he apparently smelled bees ad and turned grymes down. but in their exchange, which has since become public, grymes multiplec, grime times told mus, by the way, sandbanks winfriedoh is a huge donor to the democratic party, quote, major democratic donor grimes wrote to musk, second to bloomberg and donations to biden campaigc donor"n. what does that have to doe to with the investment? it shoul dd be irrelevant, but that was the substance off the pitch. what is this exactly? nt to th doesn't quite sound like a business. it sounds like a hybrid of some kind and not in a reassuring way. suring waynow, some of this wase in secret, but a lot of it of is happening right out in public. right in front of the news media. and of course, a lot of themndi knew sam banks and freed because he was sending a lot of the money. and when he wasn't, he was desperate for the publicity they can provide. sam

works, how sam bakeman-fried uses his billions to get favorable regulations that are going to leave all-currency holders without anything. >> todd: second biggest democratic donor behind george soros, above michael bloomberg, who stated his goal was to use a lot of his funds to support democrats going forward and he bakeman-fried beat him by $11 million, this sam bakeman-fried sent tweets spelling out what happened, bizarre behavior from a bizarre guy. he begged for cash from investors. why, robert, would anyone throw good money after bad at this point to this guy? >> i can't understand that, second only to george soros, sam bankman-fried was number two democratic donor, more than number three and number four place combined, but clearly this is all collapsed into a black hole leaving everyone else holding the bag and wondering what the $38 million that bankman-fried spent on political donations to democrats bought him as everyone else is wondering what happened to my money. >> todd: bizarre story, it will be interesting. this is not good, amazon about to lay off 10,000 employees right b

yeah, totall y missing big liberal democrat meets with sam bakeman, freed and does nothing about this corrupt fdx. >> yeah, i mean, at this atat this point, i think we can conclude it's maybe it is . yeah.up .exactly. e rest o i think thisf guy is going to o to jail for the rest of his life. i don't see any way. end up.'te her way. i wonder if he's going to travel to new york. that's all right. but he was just hailed as this cool bahamas like thirty years old, billionaire. he's a crusadeire,r for justice and giving money to all these democrats. has d. huge frau so many of the democrats i went to the bahamas crypto conference. biwas there and he's there with bill clinton and other elites and he's wearing a pair of baggy shorts and a dumpy hair and leaning over most uncomfortable dude you've ever met who would give him millions orgive billions of dollars to r this. he's saying he's still tryingyi to raise eight billion dollarsnh . that's the wild thing to think about, is that they gave him this much money to start with and they appear to haveingo been no guardrails.ie he's running two d

but her sam, bakeman fried, had the company called f t x 11 of the world's largest crypto currency exchanges. now going through chapter 11 bankruptcy. the collapse came just days after mid term elections began, which is interesting because that the ex was founded in 2019, when joe biden was still on the campaign trail. what's more interesting is that bank been freed, ended up making the 2nd largest single donation to biden's campaign, a whopping $5200000.00. my goal is just to find out how i can do the most good. and i had a long list of things to look at, at least briefly. and politics has always been on that list and i've been fairly skeptical of it. it's come as no surprise that the guy was dropping big box into the democrats mid term coffers as well. $36000000.00 he gave to pro democrat groups only to be outspent by the one and only george sorrow said $126000000.00. but money isn't the only connection. f t x has with the democrats bank been freed. mom is the co founder of mind, the gap pro democratic organization that fundraiser $140000000.00 back in 2020. his dad also drafted tax legisl

it has to say is, i'm sorry, i'm sorry, that's the biggest thing i and should have done better, sam bakeman fried, had a company called f t x 11 of the world's largest crypto currency exchanges. now going through chapter 11 bankruptcy. the collapse came just days after mid term elections began, which is interesting because that the ex was founded in 2019, when joe biden was still on the campaign trail. what's more interesting is that bank been freed, ended up making the 2nd largest single donation to biden's campaign, a whopping $5200000.00. my goal is just to find out how i can do the most good. and i had a long list of things to look at, at least briefly. and politics has always been on that list. and i've been fairly skeptical of it. it's come as no surprise that the guy was dropping big box into the democrats mid term coffers as well. $36000000.00 he gave to pro democrat groups only to be outspent by the one and only george soros at $126000000.00. but money isn't the only connection. f t x has with the democrats bank been freed. mom is the co founder of buying the gap, a pro dam organis

but her sam, bakeman fried, had the company called f t x 11 of the world's largest crypto currency exchanges. now going through chapter 11 bankruptcy. the collapse came just days after mid term elections began, which is interesting because that the ex was founded in 2019, when joe biden was still on the campaign trail. what's more interesting is that bank been freed, ended up making the 2nd largest single donation to biden's campaign, a whopping $5200000.00. my goal is just to find out how i can do the most good. and i had a long list of things to look at, at least briefly. and politics has always been on that list. and i've been fairly skeptical of it. it's come as no surprise that the guy was dropping big box into the democrats mid term coffers as well. $36000000.00 he gave to pro democrat groups only to be outspent by the one and only george soros at $126000000.00. but money isn't the only connection f t x has with the democrats bank min freeze. mom is the co founder of mines, the gap, a pro dam organisation that fund raised $140000000.00 back in 2020. his dad also drafted tax legislation

sam bakeman-fried said i didn't mean for any of this to happen and i would give anything to go back andver again. you were my family. i've lost that and our old home is an empty warehouse of monitors. when i turn around, there's no one left to talk to. here's a look at that ftx warehouse in the bahamas last year. sbs tweeted this photo of himself sleeping on bean bags in the office. he also had a luxury penthouse ne nearby. he spend $300 million on homes for top staffers. sbf telling former staffers maybe there's still a chance to save the company. fox business senior correspondent charlie gasparino is standing by. first, edward lawrence is live in washington. good afternoon. >> in that letter he said he froze in the face of pressure and leaks. the house of cards fell leaving a billion dollars missing and tens of billions misused. in court, a lawyer for ftx said the money is missing or stolen. we learned that sam bankman-fried used $300 million for real estate for himself, his family and other senior staff. $10 billion of money from ftx's customers was taken and used to prop up his hedg

then you have people like this sam bakeman fried for all intense and purposes where is the money? like child's play. >> bill: is it of an enron level. if it is you'll look at a market that will go south. >> don't believe me, believe larry summers. this is being compared to a ponzi scheme. enron was -- it tooken ron 14 years to unwind and figure out what happened there. what larry summers is saying it is similar to enron and have bad characters doing bad things. i don't want to get ahead of regulators and lawyers and manhattan d.a. >> dana: is the crypto industry looking for more regulation from washington? >> after this i hope so. it is time. there is something else, too. there is a piece in the "new york post" talking about the fact he was the second largest donor to the democrats. there is that side of the story. i won't get into the politics of this. again, i will wait and see what happens with the investigations but also do we oversee a company in the bahamas. alameda is based in hong kong. do regulators in the u.s. have jurisdiction over any of this? that's another question t

here's what we know fo sam bakeman freed was one ofsu the top donors ofre the democratic party this year. bankman in fact, he was the secd largest donor to democrats, second only to george soros. that money that money bought bank and freed a lot of access. the washington free beacon reports that just six months ago, bakeman freed was at con the white house consulting on cryptocurrency regulation. at the same time, bank been freed , was pretending to be a kind of robin hood figure thei who didn't care at all about moneme, y. romoti he shot thison promotional vide, for example, the guy you>> see thxt to me is the most generous billionaire in the world. >>e generou and i found him.i n hi, my name is sam and this is my story. mill year, this 29 year old guy donated fifty million dollars. next year, he's planning to donate 500 million dollarsna$ a year. million and next decade he a next decade, will probably give away more than ten billion dollars. the amount of good that you can can do for the future of do for the future of the world is is really large and it's wayd more than you can do to a

now, take this guy, sam bakeman freed , who actually goes by sbf in the crypto world. >> so let's call him sbf. an interesting thing here is he actually bought protection. he played the old goldman sachs pre 2008 game. you'll remember this. goldman sachs paid for a lot of protection from the government to pay out. it's like an insurance policy when it matters most. when the twenty eight financial crisis. that's why goldman sachs got bailed out while lehman brothers didn't. well, appears to be playing a really similar game. he's a top donor to the democratic party even as his exchange was going bust. yet there's one small new one to the tucker. i think they might actually go after him and punish him anyway. and here's the funny part. not a lot of people know he actually had pledged up to a billion dollars in donations this cycle and next. so there are actually a lot of democrats upset with them that he only gave 30 to 40 million. so if they do go after him, it's because he didn't buy the gold plated insurance policy. he just stopped at the cheap version of the insurance policy instead.

he called sam bakeman free to , quote, absolute fraud to his face, which, of course, he turned out to in may very if he kept going, he tried to warn congress about fctcn co and sangrem bakeman freed . >> here's what happened. i'm asking you, sir, you have a saying so that fdx has, quote, no capital requirements for participants. i think that's on its face, a false statement, given that the cftc part thirty nine regulation requires capital requirements. nfte pcipants. does have a capil requirement for four markets. fti said are capital requiremens are not the same as they are for other institutions. your capital is capital is not the same as margin. >> congress. >> s sorry. so rokan, a democrat, silicon valley getting emotional as hesi defends sampatliconeh freedom f. why is that?ional maybe some oldde a story to find out why. >> but in the meantime, we are grateful to have terry duffy join us . yokiney join group, a man who hs been completely vindicated. why do you and thank you so much for coming on tonight. why do you and by the way, i should recommend to our viewers as a whole lot