Welcome back to The Stratosphere, and a happy 70th to Puck subscriber Ervin Schleifer in Camden, Delaware.
We have two stories in today’s edition. First, a look at whether any of the political aides who worked for Sam Bankman-Fried face any possible legal exposure from the Department of Justice, which I report has been issuing subpoenas to a number of them. Will D.O.J. be satisfied with the heads of Sam, Nishad and Ryan—or will they go further down the totem pole?
Then, below the fold, a look at a new, controversial strategy from LinkedIn billionaire Reid Hoffman to engage in the 2024 primary—among Republicans. If you’re following the battle between DeSantis and Trump, you’ll want to scroll down for that.
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Who knew what, and when? In the aftermath of FTX cofounder Nishad Singh’s guilty plea, the haze of paranoia surrounding Sam Bankman-Fried’s former associates has narrowed to that simple question. Last month, with Singh’s cooperation, federal prosecutors unveiled new details of S.B.F.’s alleged straw-donor scheme, depicting a sophisticated and highly choreographed endeavor wherein Bankman-Fried effectively embezzled tens of millions of dollars in customer deposits to Singh and another FTX executive, co-C.E.O. Ryan Salame, to make political contributions in their names. Is it really possible that...