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
In late November, Protos began 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. Given that it has only 3 employees and is one of the smallest banks in the entire United States, Protos noted that “the fact that [this bank] somehow finds itself embroiled in the largest cryptocurrency fraud in history is puzzling, disconcerting, and totally out of place, to say the least.”
While the Protos piece sheds some light on Farmington State Bank and its recent transformation into FBH Corp. and Moonstone Bank, there is more to the story. Despite being a small, rural bank, Farmington/Moonstone, since at least 1995, has had ties to some of the most covert and criminal offshore financial networks of the modern era, with connections to intelligence-linked financial fraudsters of considerable notoriety.
To finish at original source; https://unlimitedhangout.com/2022/12/investigative-reports/ftx-and-the-curious-history-of-farmington-state-bank/.
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