How the World Economic Forum and others have hidden
How the World Economic Forum and others have hidden their previous connections to FTX. A who’s who of global elites have been embarrassed by the sudden collapse of the FTX cryptocurrency exchange, with some delivering mea culpas and others reportedly trying to cover up their connections to its discredited 30-year-old creator Sam Bankman-Fried.
Web archives reveal that the World Economic Forum had previously listed FTX as one of its “partners,” praising the Bahamas-based company as a “cryptocurrency exchange built by traders, for traders.” The World Economic Forum’s glitzy shindig in Davos, Switzerland, is a must-attend event for billionaires and world leaders each year.
Alongside notables like Ruth Porat, the head of Google’s financial division, and Bill Winters, the CEO of London-based financial behemoth Standard Chartered, Bankman-Fried spoke at Davos in May. However, WEF has since removed all references to FTX.
“FTX was a partner of the World Economic Forum. According to a representative for the Klaus Schwab-led group in Geneva, “their partnership was suspended and they were removed from the Partners area of our website in light of last week’s events.
One WEF insider claims that Bankman-Fried probably found his way to the organization’s website because, in addition to his impending speaking engagement, he had donated money to the organization.
The insider explained to The Post that the “World Economic Forum survives on donations from outside groups and firms that are often aligned with its goal and views.”
The WEF is not the only organization that now regrets supporting FTX and Bankman-Fried, whose $16 billion fortune vanished in a matter of days, drawing comparisons to Lehman Brothers and Enron. There is a federal investigation into Bankman-Fried.
Over the weekend, images appeared online showing former president Bill Clinton and former British prime minister Tony Blair seated next to Bankman-Fried on stage during an occasion in the Bahamas last April.