The Ukraine Crypto Laundry – IOTW Report

The Ukraine Crypto Laundry

Meaning in History Substack

The details are beyond me, but the concept seems pretty simple. The legislature of a powerful government—call it ‘the US Congress’—authorizes payment of tens of billions of dollars to the Ukrainian government to help them fight Russia. Ukraine skims at least some of that money—remember, it’s tens of billions—and sends the skim to FTX, which is already active sending bitcoin to Ukraine. FTX, through its founder Sam Blankman-Fried, then becomes a major donor (second only to George Soros) to the dominant political party of that powerful foreign government (call the party ‘Dems’) that supported Ukraine. That’s a pretty tight, circular flow of money, and it’s popularly known as a kickback. More

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