Why did an FTX affiliated business park millions in a microscopically small rural bank? – IOTW Report

Why did an FTX affiliated business park millions in a microscopically small rural bank?

Monday, 28 November 2022, 14:00 MJA Uncategorized 8

American Thinker:
By Andrea Widburg

It’s emerged that an FTX-affiliated business is involved in the explosive growth of what was the 26th smallest bank in America, located in a tiny town in rural Washington state. So, what the heck is going on in tiny Farmington (population 145)?

Farmington, settled in 1871, officially founded in 1878, and incorporated in 1888, is located in the southeastern corner of Washington state. Its population peaked at just under 500 people in the first third of the 20th century. Starting with the Great Depression (a name that may soon be applied to the economy that awaits 2022 America), the population dwindled, settling at its current number of roughly 145 people, justifying its place as the county’s second smallest town.

The town is known for…lentils. According to the town website, J.J. Wagner planted the first lentil crop in 1916. Today, thanks to a privately owned processing plant, Farmington ships lentils worldwide. The town also grows wheat and barley.

Everything we know about the town makes it logical that its bank would be tiny. According to a tweet, the town boasted one bank: Farmington State Bank, which has a tiny cinderblock building and three employees: MORE

8 Comments on Why did an FTX affiliated business park millions in a microscopically small rural bank?

  2. One needs real money to buy into crypto coin buyers are left with bytes while the real money (that is, government-backed currency tied to a country’s wealth) goes to people like…

    Oh. Andrea…

    And that’s what we know. There is currently no evidence of wrongdoing, but one must ask, is this money laundering? What is going on here?

    And, again. Apollo wept.

  3. Simple. They put a branch in the Bahamas, deposit money into it, avoiding having to report it to the Fed’s. Then they transfer it to their main office in the US and still don’t have to report it to the Fed’s. An easy way to launder money without all that bothersome oversight.

    5

  7. Among the recipients of FTX/SBF cash laundered through the Protect Our Future PAC was the left-wing group
    @Everytown
    which backed Katie Hobbs as part of a $1.4 million effort.

    1

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