London Daily

Focus on the big picture.
Tuesday, Oct 28, 2025

Corruption works: House Financial Services Chair Waters doesn't plan to subpoena her donor, Sam Bankman-Fried, to testify at hearing on FTX collapse

House Financial Services Chair Maxine Waters tells members there are no current plans to subpoena FTX founder Sam Bankman-Fried for his testimony. Sam Bankman-Fried disappeared from United States, along with $ 30 billion investors money, and hiding in the Bahamas, after “donating” $ 40 million to the Democrats Party and the House Financial Services Chair Maxine Waters that now protecting him.

Conclusion:

Anyone who claims that bribery is not good, cannot really distinguish between good and evil.

Anyone who claims that corruption is not good business, does not understand how politics and the real business world works.

Anyone who thinks that stealing investors  money is not ok, does not understand the real business model of the capital market.

Anyone who believe that being a decent citizen who obey the rule of law is the right thing to do for your life, your family and friends, is on the wrong side of the business world. 

Being fair, obeying the rule of law, working hard and honest  really does a lot of good, but it does good not to the people who obey the law but to those on the other side, to those who can violate the law, and have the right connections with the authorities to let it go. 

And last conclusion from this FTX and the law makers corruption is: anyone who think that stealing  investor’s savings is not profitable, probably never got rich from investors.



Background:

Rep. Maxine Waters (D-CA) participates in a House Financial Services Committee hearing in Washington, October 23, 2019.

House Financial Services Committee Chair Maxine Waters told Democrats she doesn't plan to subpoena her dear and generous friend, former FTX CEO Sam Bankman-Fried, to testify at Tuesday's hearing about the crypto exchange's rapid demise, according to people with direct knowledge of the conversation.

Waters informed committee members of her decision secretly, at a private meeting Tuesday with Securities and Exchange Commission Chair Gary Gensler on Capitol Hill.

Those at the meeting say Waters said she wants committee staff to try to convince Bankman-Fried to voluntarily testify. As of late Wednesday, Bankman-Fried has obviously not yet to agree to voluntarily testify to the House committee. Why should he, with $30 billion dollars?

Waters, who will lose the chair title when Republicans take control of the House on Jan. 3, could end up deferring to Rep. Patrick McHenry, R-N.C., the panel's top Republican and likely next chair, to decide whether to subpoena Bankman-Fried in the next congressional session if the FTX founder declines to voluntarily testify under oath next week.

Bankman-Fried has been under scrutiny by federal investigators and lawmakers on Capitol Hill since his cryptocurrency exchange “suddenly collapsed” last month, bringing to light a host of questionable transactions.

Senate Banking Committee Chair Sherrod Brown, D-Ohio, announced that his committee will hold a hearing on FTX's implosion on Dec. 14. The company's crash arrived after FTX reportedly transferred billions of dollars in client funds to Bankman-Fried's trading firm, Alameda Research.

Waters invited Bankman-Fried to voluntarily testify before the panel and could always change her mind and subpoena him before Tuesday. A committee spokeswoman declined to comment.

Bankman-Fried tweeted his answer to Waters, saying he felt it was his "duty" to explain what happened, although it might not happen next week. John Jay Ray III, the new FTX CEO, is scheduled to testify at next week's House hearing.

"Once I have finished learning and reviewing what happened, I would feel like it was my duty to appear before the committee and explain," Bankman-Fried said. "I'm not sure that will happen by the 13th. But when it does, I will testify."

Bankman-Fried's fall from grace was swift and unforgiving after spending years as the crypto "darling" on Capitol Hill. He donated almost $40 million toward the 2022 congressional midterm elections, with much of it going to Democrats.

Nishad Singh, who became FTX's lead engineer in 2019 following a stint at Bankman-Fried's trading firm Alameda Research, has donated more than $13 million to Democratic Party causes since the start of the 2020 presidential election.

Ryan Salame, the co-CEO of FTX Digital Markets, donated another $23 million, with most of his contributions benefiting Republicans.

Bottom line: maybe my conclusions above are not 100% right. But definitely all what I was brainwashed in my life to believe about honesty, dignity, fairness and  law obsidians is absolutely wrong.    

The people who enriched slavery, wars, discrimination bribery and racism overall we convince us to keep the law that protects them from justice to us. They force us to have a brainwashing that will convince us not to testify what made them rich.

Newsletter

Related Articles

0:00
0:00
Close
UK Announces £1.08 Billion Budget for Offshore Wind Auction to Boost 2030 Capacity
UK Seeks Steel Alliance with EU and US to Counter China’s Over-Capacity
UK Struggles to Balance China as Both Strategic Threat and Valued Trading Partner
Argentina’s Markets Surge as Milei’s Party Secures Major Win
British Journalist Sami Hamdi Detained by U.S. Authorities After Visa Revocation Amid Israel-Gaza Commentary
King Charles Unveils UK’s First LGBT+ Armed Forces Memorial at National Memorial Arboretum
At ninety-two and re-elected: Paul Biya secures eighth term in Cameroon amid unrest
Racist Incidents Against UK Nurses Surge by 55%
UK Chancellor Rachel Reeves Cites Shared Concerns With Trump Administration as Foundation for Early US-UK Trade Deal
Essentra plc: A Closer Look at a UK ‘Penny Stock’ Opportunity Amid Market Weakness
U.S. and China Near Deal to Avert Rare-Earth Export Controls Ahead of Trump-Xi Summit
Justin time: Justin Herbert Shields Madison Beer with Impressive Reflex at Lakers Game
Russia’s President Putin Declares Burevestnik Nuclear Cruise Missile Ready for Deployment
Giuffre’s Memoir Alleges Maxwell Claimed Sexual Act with Clooney
House Republicans Move to Strip NYC Mayoral Front-Runner Zohran Mamdani of U.S. Citizenship
Record-High Spoiled Ballots Signal Voter Discontent in Ireland’s 2025 Presidential Election
Philippines’ Taal Volcano Erupts Overnight with 2.4 km Ash Plume
Albania’s Virtual AI 'Minister' Diella Set to 'Birth' Eighty-Three Digital Assistants for MPs
Tesla Unveils Vision for Optimus V3 as ‘Biggest Product of All Time’, Including Surgical Capabilities
Francis Ford Coppola Auctions Luxury Watches After Self-Financed Film Flop
Convicted Sex Offender Mistakenly Freed by UK Prison Service Arrested in London
United States and China Begin Constructive Trade Negotiations Ahead of Trump–Xi Summit
U.S. Treasury Sanctions Colombia’s President Gustavo Petro over Drug-Trafficking Allegations
Miss USA Crowns Nebraska’s Audrey Eckert Amid Leadership Overhaul
‘I Am Not Done’: Kamala Harris Signals Possible 2028 White House Run
NBA Faces Integrity Crisis After Mass Arrests in Gambling Scandal
Swift Heist at the Louvre Sees Eight French Crown Jewels Stolen in Under Seven Minutes
U.S. Halts Trade Talks with Canada After Ontario Ad Using Reagan Voice Triggers Diplomatic Fallout
Microsoft AI CEO: ‘We’re making an AI that you can trust your kids to use’ — but can Microsoft rebuild its own trust before fixing the industry’s?
China and Russia Deploy Seductive Espionage Networks to Infiltrate U.S. Tech Sector
Apple’s ‘iPhone Air’ Collapses After One Month — Another Major Misstep for the Tech Giant
Graham Potter Begins New Chapter as Sweden Head Coach on Short-Term Deal
Ecuadorian President Daniel Noboa Alleges Poison Plot via Chocolate and Jam
Lakestar to Halt External Fundraising as Investor in Revolut and Spotify
U.S. Innovation Ranking Under Scrutiny as China Leads Output Outputs but Ranks 10th
Three Men Arrested in London on Suspicion of Spying for Russia
Porsche Reverses EV Strategy as New CEO Bets on Petrol and Hybrids
Singapore’s Prime Minister Warns of ‘Messy’ Transition to Post-American Global Order
Andreessen Horowitz Sets Sights on Ten-Billion-Dollar Fund for Tech Surge
US Administration Under President Donald Trump Reportedly Lifts Ban on Ukraine’s Use of Storm Shadow Missiles Against Russia
‘Frightening’ First Night in Prison for Sarkozy: Inmates Riot and Shout ‘Little Nicolas’
White House Announces No Imminent Summit Between Trump and Putin
US and Qatar Warn EU of Trade and Energy Risks from Tough Climate Regulation
Apple Challenges EU Digital Markets Act Crackdown in Landmark Court Battle
Nicolas Sarkozy begins five-year prison term at La Santé in Paris
Japan stocks surge to record as Sanae Takaichi becomes Prime Minister
This Is How the 'Heist of the Century' Was Carried Out at the Louvre in Seven Minutes: France Humiliated as Crown with 2,000 Diamonds Vanishes
China Warns UK of ‘Consequences’ After Delay to London Embassy Approval
France’s Wealthy Shift Billions to Luxembourg and Switzerland Amid Tax and Political Turmoil
"Sniper Position": Observation Post Targeting 'Air Force One' Found Before Trump’s Arrival in Florida
×