Governor Hochul signs novel law that limits cryptomining, for now

New York is taking a first-in-the-nation step to tap the brakes on the spread of cryptocurrency mining, under legislation that Gov. Kathy Hochul signed Tuesday.

The measure comes amid growing scrutiny of the cryptocurrency industry following this month’s collapse of the FTX exchange. But New York’s measure, which passed the state Legislature in June, is specifically concerned with the environmental aspects of crypto.

“I will ensure that New York continues to be the center of financial innovation, while also taking important steps to prioritize the protection of our environment,” Hochul, a Democrat, said in a message explaining her approval.

The new law sets a two-year moratorium on new and renewed air permits for fossil fuel power plants used for energy-intensive “proof-of-work” cryptocurrency mining — a term for the computational process that records and secures transactions in bitcoin and similar forms of digital money. Proof-of-work is the blockchain-based algorithm used by bitcoin and some other cryptocurrencies.

The law also requires the Department of Environmental Conservation to asses how cryptomining affects the state’s ability to meet its climate goals.

Environmentalists said New York was undermining those goals by letting cryptomining operations run their own natural gas-burning power plants.

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Howls Of Outrage After New York Times Confirms SBF To Speak Alongside Zelenskyy, Yellen

As we discussed last night, Sam Bankman-Fried has now demonstrated that he is both a pathological liar and a sociopath, the kind who in “explaining” to his employees how he stole billions (over $4 billion according to new FTX CEO John J. Ray) from the now bankrupt FTX, an act which left it insolvent and without liquidity, called it “loans” which were “generally” not used for “large amounts of personal consumption” (just “small amounts” used for such trivial items as $40 million penthouses and private jets).

And the only reason we don’t officially call him a criminal just yet, is because he has not yet confirmed he used client money from his exchange to fund his personal hedge fund, an act which would cost any other individual decades in jail… but not prominent democrats like SBF or Jon Corzine, of course. Plus it’s the US legal system’s job to do that, not ours. Although we are growing increasingly skeptical this prominent Democratic donor will ever see the inside of a courtroom.

It’s not just us: with much of the entire world demanding to know how this corpulent 30-year-old still has not been thrown in prison, or at least charged with a variety of crimes, the NYT just confirmed to the entire world what a farce the one-time paper of record has become, and how it is willing to whore itself out for clicks – not to mention prominent Democrat donors – because moments after SBF tweeted that he will be speaking with Andrew Ross-Sorkin moderated NYT “summit” on Nov 30…

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REVEALED: FTX crypto bro SHOWERED media orgs Vox, ProPublica, Intercept, Semafor and more with investment money

In addition to being a major donor to the Democrat Party during the 2021-22 election season, disgraced FTX founder Sam Bankman-Fried was a major donor to several liberal media outlets, including ProPublica, Vox, The Intercept, The Law and Justice Journalism Project, and the recently launched Semafor, leading to speculation about their ability to objectively report on FTX.

“They all took it,” Human Events Daily’s Jack Posobiec noted on Twitter, “and none of them broke the story.”

As Semafor launched in October, Reuters reported that “The platform said it has so far raised $25 million from investors including David Bradley, owner of The Atlantic magazine; Jessica Lessin, founder of technology website Information; and cryptocurrency exchange FTX founder Sam Bankman-Fried.”

That was only a few short weeks before FTX collapsed. Customers made a run on the exchange to withdraw their deposits, only to find that the company did not actually have it. FTX is now in Chapter 11 bankruptcy proceedings in the state of Delaware, and Semafor is out a whole bunch of money.After Semafor published an article about disgraced FTX founder Sam Bankman-Fried’s relationship with Elon Musk, indicating that despite Musk’s claim that his “bullshit meter was redlining,” Musk pointed out that their reporting was perhaps not entirely on the up-and-up where FTX was concerned.

“Semafor is owned by SBF,” Musk wrote to Semafor on Twitter. “This is a massive conflict of interest in your reporting. Journalistic integrity is [trash].”

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The Intercept that funded Government/Big Tech Censorship begs for Donations after FTX Grants are put on hold

The Intercept begged its readers for donations after the publication revealed that a multimillion-dollar grant from disgraced former FTX CEO Sam Bankman-Fried would be placed “on hold” due to FTX filing for bankruptcy.

The Intercept is one of several media outlets that received a hefty donation from Bankman-Fried’s FTX Foundation. However, as Dr. Shiva Ayyadurai discovered in 2020, eBay’s founder Pierre Omidyar is the founder and funder of The Intercept and also funds the Government and Big Tech censorship infrastructure.

Bankman-Fried pledged $4 million to The Intercept over two years. So far, the outlet has received $500,000 out of the $4 million to support their reporting “on biosafety and pandemic prevention.”  However, The Intercept’s Acting Editor-in-Chief, Roger Hodge, announced on Friday that future grant payments are “on hold,” and used the announcement to ask readers for donations.

Bankman-Fried moved billions of dollars from FTX to sister company Alameda Research through a bespoke software “backdoor.” Similarly, the US and UK governments use backdoors, bespoke purpose-built portals, for Facebook and Twitter to directly access, monitor and censor users.  And The Intercept funds this deep collusion between Big Tech and government entities.

At the end of October, The Intercept published an “investigation” into the Department of Homeland Security’s (“DHS”) efforts to curb speech it considers dangerous. “Years of internal DHS memos, emails, and documents – obtained via leaks and an ongoing lawsuit, as well as public documents – illustrate an expansive effort by the agency to influence tech platforms.,” The Intercept wrote.

However, two years ago Dr. Shiva exposed the deep collusion between the United States government and social media companies – specifically Twitter but also YouTube and Google – in his historic Federal lawsuit.   Dr. Shiva has accused The Intercept of manipulating and hijacking his work to intentionally conceal Intercept boss Pierre Omidyar’s role in creating the Government and Big Tech censorship infrastructure.

According to Dr. Shiva, the entire operation appears to be a “limited hangout” – disclosing a self-contained and sensational but relatively benign story to overshadow something more damaging.  To deceive people into thinking they got the “truth” while the real truth is buried.

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Reminder: Microsoft Has a Patent for a ‘Cryptocurrency System Using Body Activity Data’ and It’s Just as Creepy as It Sounds

Here is an overview of Microsoft’s “Cryptocurrency System Using Body Activity Data” patent, which calls for using a person’s bodily functions—including everything from their heart beat to their brain activity—as a way to perform so-called “proof-of-work” for “mining” various cryptocurrencies. The patent, number WO2020060606, even outlines how real-time imagining of individuals’ brain activity could be used for the scheme.

In June of 2019 Microsoft—the tech company that makes laggy, buggy software and has a monster market cap of approximately $1.8 trillion—filed a patent for a “Cryptocurrency System Using Body Activity Data.” The patent, which was published in March of 2020, outlines how, in essence, a person’s bodily functions—including everything from their heart beat to their brain activity—could be used as a way to perform so-called “proof-of-work” for “mining” various cryptocurrencies; whether they be decentralized cryptocurrencies like Bitcoin, or centralized ones, like central bank digital currencies (CBDCs).

The patent number for Microsoft’s creepy cryptocurrency system, as conspiracy theorists like to point out, is WO2020060606.

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While Crypto Bro Scammed Clients, Reporters Scammed Readers

Today, you probably know who Sam Bankman-Fried and FTX are, and the details of why he and his company are front-page news are emerging at an amazing pace. Here’s the short version: Bankman-Fried—a boyish-looking cryptocurrency baron known commonly as SBF—announced that his lauded cryptocurrency exchange, FTX, had lost at least $1 billion in client funds, sending the crypto market into a tailspin (Fox Business11/16/22). The company, once the third-largest cryptocurrency exchange (AP11/16/22), has filed for bankruptcy. Lest one think this is a debacle that only affects crypto bros, Treasury Secretary Janet Yellen warns that “the sector’s links to the broader financial system could cause wider stability issues” (New York Times11/17/22).

How could this happen? How could no one have seen this coming? These are the questions many people are asking. One problem is that in the months leading up to Bankman-Fried’s transition from financial genius to possible financial criminal (Yahoo Finance11/14/22), he received little scrutiny in the media. On the contrary, he was celebrated.

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Sam Bankman-Fried and FTX Cronies Gave $300k to House Committee Members Investigating Him

Sam Bankman-Fried and executives at his cryptocurrency firm contributed hundreds of thousands of dollars to members of the House committee that will hold hearings next month on the company’s collapse.

Bankman-Fried and his co-founders at FTX contributed $300,351 to nine members of the House Financial Services Committee, according to Federal Election Commission records. Some of the largest contributions were to Democrats on the committee’s Digital Assets Working Group, which worked on regulation of the crypto industry. Rep. Maxine Waters (D., Calif.), who chairs the committee, announced a probe this week into FTX’s collapse after the company declared bankruptcy, wiping out billions of dollars in customers’ portfolios. The Justice Department and Securities Exchange Commission are reportedly investigating Bankman-Fried for potential misuse of customer funds.

Bankman-Fried’s donations to committee members could raise concerns that the lawmakers will not adequately investigate the crypto kingpin, who spent millions on advertising, lobbying, and philanthropic causes to burnish his company’s image as an ethical crypto company in an industry rife with scam artists. Of the nine committee members who received contributions from Bankman-Fried, only Rep. Chuy Garcia (D., Ill.) has said he would return a $2,900 contribution from the billionaire. While Waters said the committee will investigate FTX’s “collapse,” the Democrat has no apparent plans to look into Bankman-Fried’s efforts to buy favor in Washington.

Waters dodged questions this week about whether she is concerned about Bankman-Fried’s political donations. “Well, I don’t want to get into that. As a matter of fact, both sides, Democrats and Republicans, have received donations,” she told Fox Business.

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FTX partnership with Ukraine is latest chapter in shady Western aid saga

The Ukrainian government mysteriously disappeared online records of its fundraising arrangement with the FTX crypto scam just days before the scandal erupted. The initiative claims to have raised $60 million for Ukraine, but where did the money go?

The demise of FTX, the fifth-biggest cryptocurrency exchange by trade volume in 2022, and the second-largest by holdings, has sent a wave of chaos through global financial markets. 

As the turbulence grows, the government of Ukraine is conducting an ongoing cleanup and whitewashing operation to rid any and all references to a high-level cryptocurrency fundraising arrangement it struck with FTX from the web. Eerily, it seems to have commenced just days before the scandal erupted. 

Online records unearthed by The Grayzone claim tens of millions were raised by FTX for the Ukrainian government, and put to a variety of belligerent uses. But with the company now exposed as a Potemkin village lacking underlying assets, and major question marks hanging over whether its operations were from day one fraudulent top to bottom, where does that leave the supposedly successful donation scheme? Were those sums truly raised, and if so, to what purposes were they actually put?

FTX’s destruction resulted from a mass sell-off of the company’s native bitcoin token, FTT, by the rival exchange, Binance. Its value plummeted, prompting a three-day “run” on billions of dollars worth of cryptocurrency, which in turn created – or exposed – a “liquidity crisis” within FTX, as it did not have the available assets required to redeem client withdrawals. FTX filed for bankruptcy on November 11th. 

FTX founder and top Democrat Party donor Sam Bankman-Fried now faces criminal investigations in the Bahamas, where the exchange was headquartered, and calls for official investigations into the largely unregulated cryptocurrency industry are reverberating across the globe.

The sudden death of FTX has been compared to the 2008 disintegration of Lehman Brothers that precipitated the financial crisis.

Massive customer holdings have apparently gone missing thanks to a secret “back door” in the FTX bookkeeping system that allowed Bankman-Fried to make changes to the company’s financial records without any accountability. This connivance may have been used to hide at least $10 billion in client funds Bankman-Fried transferred from exchange to another company he founded, digital asset trader Alameda Research. 

While mainstream media pores over the details of Bankman-Fried’s gargantuan crypto scam, not one single major outlet has investigated or even acknowledged FTX’s relationship with the government of Ukraine. 

Were client holdings unaccountably and illegally funneled into the West’s proxy war? Or did the supposed aid FTX sent to Kiev find its way into the hands of Ukrainian scammers, corrupt warlords and illicit actors? 

The corporate media’s failure to explore these questions appears all the more perverse given Bankman-Fried’s flamboyant promotion of his intimate financial relationship with the government of Ukrainian President Volodymyr Zelensky.

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