FTX Scandal Exposes Tether and Links to CIA, Drug Cartels, Ukraine

Following the recent implosion of the crypto exchange FTX, the sandal has exposed cryptocurrency Tether and its links to the CIA, drug cartels, Ukraine, and al-Qaeda.

Slay News has been extensively reporting on the FTX scandal and highlighted the money laundering operation the company and its founder and CEO, Sam Bankman-Fried, were running in Ukraine to pump money back to Democrats in America.

Despite Congress calling hearings to investigate FTX, Bankman-Fried has donated over $300,000 to lawmakers on the Rep. Maxine Waters-led House Committee that’s “investigating” him.

Now it has emerged that Tether may also have far-reaching deep state links.

Former Trump advisor Steve Bannon’s news outlet Revolver has published a new report that details the deepening scandal.

Revolver notes first that FTX may not be the largest cryptocurrency-related entity to collapse in the coming months.

Another crypto by the name of  “Tether” or USDT has been in big trouble for some time and may also be about to pop.

Per Revolver:

USDT, or Tether, is what is known as a “stablecoin.”

A stablecoin is a cryptocurrency that, instead of fluctuating in value, is intended to hold to a consistent price.

Tether is a USD stablecoin — each Tether is supposed to be equal in value to one U.S. dollar.

While most cryptocurrencies are wildly speculative and backed by essentially nothing, each Tether is supposed to be backed directly by a U.S. dollar, or an extremely liquid, reliable investment like a U.S. treasury bond….

…Tether has the third highest market cap of any crypto currency at $66 billion, trailing only Bitcoin and Ethereum.

Today, fully half of all bitcoin trades globally are executed using Tether.

Revolver goes on to report on FTX-linked Alameda Research.

As Slay News reported, Alameda was at the center of FTX’s operations and was run by Bankman-Fried’s girlfriend Caroline Ellison.

Alameda was also one of two firms responsible for “seeping” Tether into the cryptocurrency ecosystem.

Did that last sentence set off any alarm bells? It should have.

Alameda Research is the quantitative trading firm founded by Sam Bankman-Fried.

Bankman-Fried and his partner in crime, Alameda CEO Caroline Ellison, allegedly propped up their trading firm by plundering FTX customer accounts.

The inner workings of Tether remain remarkably opaque.

New Tethers are supposed to only be minted, and added to the crypto ecosystem, when somebody gives Tether Limited dollars to create them.

And if that’s how it all worked, Tether would be fine.

But there is no evidence Tether actually works this way.

We repeat: There is no proof that Tether stablecoins are backed by the store of tangible assets that is supposed to justify their value.

Surprisingly, or unsurprisingly to some, Tether has never been audited.

Tether has a staggering $68 billion market value.

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However, no one knows if Tether is even really backed by the dollar.

The “Wolf of Wall Street” Jordan Belfort even has questions about Tether.


In summary, Revolver notes:

It’s important to state what is happening if Tether is not actually backed by the dollars that it claims.

If Tether Limited is pumping out new Tethers without actually taking in an equal amount of USD, then it is essentially a privately-run money printer.

Revolver then goes on to discuss the founder of Tether, Craig Sellars.

The report described Sellars as “a washed-up former child actor involved in a sex scandal with underaged minors that quietly dissipated without charges.”

Ultimately, Tether is clearly in a really big mess.

Meanwhile, U.S. government-backed rebels in Myanmar are using Tether as their currency of choice.

Tether appears to be growing in popularity among terrorist groups.

Al-Qaeda-affiliated Sunni rebel groups of Syria also just so happen to love Tether.

Revolver notes that it’s not just terrorists that love Tether, either:

Tether is not just the cryptocurrency of choice for US-backed rebel groups.

It has also become a favorite of drug cartels, which, according to some journalists, are deeply intertwined with U.S. three-letter agencies, including the CIA.

When the U.S. placed sanctions on Tornado Cash, a crypto service that assists in concealing the transfer of crypto funds, Tether ignored that sanction.

One might expect that defiance to draw the wrath of U.S. regulators.

Yet when the Washington Post looked into the matter, regulators seemed surprisingly unbothered.

And, like Democrat-linked FTX, Tether is being used in Ukraine:

Tether demand skyrocketed in Ukraine right after the Russian military operation began in February of this year. Ukrainian charities made appeals for Tether-based donations.

All of this was aided by Tether’s special advantage for use in money laundering, according to Bloomberg…

Tether and FTX have a long and close relationship, according to Revolver.

READ MORE: Links Emerge Between FTX and WEF, Top Democrats, Ukraine, Biden Admin

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By Frank Bergman

Frank Bergman is a political/economic journalist living on the east coast. Aside from news reporting, Bergman also conducts interviews with researchers and material experts and investigates influential individuals and organizations in the sociopolitical world.

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