Welcome to this weekly peak prosperity update. I am your host, Dr. Chris Martinson, and I fell down a rabbit hole investigating the FPX collapse and the corruption therein. It's a really incredible tale.

Listen, one thing I am, above all else, really is kind of an investigative reporter. Once I get my teeth into something, I just have to know what's going on. Wait till you see this story. Let's go there now. The FTX scandal, this just shows how deep corruption. Corruption is now, you know, we worried about with COVID was that it would become endemic. Now, it is endemic. Endemic means it's just part of the landscape. Well, corruption is now endemic in the United States landscape and potentially a lot of the world's landscape.

It's so endemic that people grow up in it and they don't even know their participants in corruption.

It's just how things are. So let's go there and look at this. What happened?

Well, between $1 and $2 billion of FTX customer funds, what's in FTX?

FTX is a company and it was a trading platform for

cryptocurrencies and it was housed in the Bahamas. Apparently not enough oversight. And what happened

was those customer funds have disappeared. It turned out that SBF stands as a three-letter

acronym for Sam Bankman Pride or Freed.

Sam had a secret back door to transfer billions and Reuters doesn't always get it wrong.

Their fact check usually does, but this is a pretty good summary right here,

exclusive by Angus.

Berwick says here, FDX founder of Bankman Feed, secretly, one dude moved $10 billion in funds from

client funds from the trading platform, FDX, over to this related partner fund called

Alameter Research, which was gambling with those monies.

Investing is the idea, but really gambling.

Bankman Fried showed spreadsheets to colleagues that revealed a shift in funds to Alameda.

And so we saw a couple up to $2 billion that's unaccounted for.

An executive set up bookkeeping backdoors that thwarted the red flag.

So, so this is a really small, poorly regulated, no oversight, kind of a company that, guess what, was just scamming a lot of people.

There were red flags everywhere in this story, of course.

And this ends up breaking our trust because right off of the FTX website, you know, they say, hey, join over one million users, Bloomberg, CNN, CNBC.

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