I think the whole point about campaign financing is well made, but the idea (implied) that this was some massive Dem ruse feels incredibly far-fetched, given the various investors and others involved. If you scratch at the senior leadership of many companies you're going to find political people of all colours, because lots of people get involved in politics.
Whatever noises SBF was making about regulation - what actually appears to have happened is that he was (at best) incompetent and simply playing to whatever audience was listening. Who knows, maybe he even drank his own koolaid. After all he is so virtuous on other matters, surely this would all work out somehow, he is one of the good guys.
His regulators meanwhile (at best) placed undue trust in him for reasons ranging from shared politics and values on various unrelated issues to very large donations vaguely to their benefit. And why shouldn't they, after all he is so virtuous on other matters, surely this would all work out somehow, he is one of the good guys. One of them. And never mind how he got the money.
You don't need to assume a nefarious ruse. Although since no doubt it will be politicized it will be assumed. And is sort of implied in the discord quote. No nefarious scheming is necessary.
In short, a bunch of incestuous wankers feeding into each others delusions and all too willing to look the other way on things they'd never let slide for their political opponents. FTX would never have happened had the founders politics been different, surely you see that.
And I'm sure if this pairing would have been a red instead of blue the same thing would have happened.
Scrutiny seems now to only be reserved for political enemies.
Said to me, by a salesman: "A good salesman believes his own bullshit."
Regardless of who is in charge and their political affiliations, it simply should not work this way.