FTX and the Curious History of Farmington State Bank

Since FTX’s collapse, a tiny bank in rural Washington has come under heavy scrutiny for the role it may have played in the crypto exchange’s fraudulent activities. Ed Berger and Whitney Webb investigate the history of the bank and unearth some troubling connections.

byEd Berger

and

byWhitney Webb

December 8, 2022

19 minute read

This is the deepest dive into banking connections surrounding the SBF/FTX implosion. The authors here were tipped off by a previous deep dive by Protos (https://protos.com/the-curious-case-of-ftx-and-farmington-state-bank-aka-moonstone/) "…demystifying the mysterious ties of the bankrupt and fraud-riddled cryptocurrency exchange FTX to “a small bank in rural Washington,” known as Farmington State Bank."

"In this Unlimited Hangout investigation, we pick up where Protos left off and begin lifting the curtain behind the FTX financial labyrinth in an effort to piece together the networks behind the elaborate crypto Ponzi scheme."

The authors explore "The network behind Farmington/Moonstone, the subject of this piece, is the first of many threads tied to FTX that we hope to pull on in the coming weeks and months." Entities like, Archie Chan, C. Wayne Wexler, John Widman, David K.Y. Tang, and Council on Foreign Relations, Federal Reserve Bank of San Francisco, and Glorious Sun Enterprises.

It will be interesting to see how congress is going to bury all the connections, if they even can. Likely we will never hear these details from congress, so important to watch the work that independents put out, like Protos and Unlimited Hangout.

https://unlimitedhangout.com/2022/12/investigative-reports/ftx-and-the-curious-history-of-farmington-state-bank/