Apollo Global Management appointed former Red Team Senator Pat Toomey to their board of directors. News reports indicate Apollo is backing the possible acquisition of Celsius, a bankrupt crypto lender.
Pat Toomey joined Coinbase's Global Advisory Council for the purpose of navigating "an increasingly complex and evolving landscape in the US" and beyond.
The greed and leverage boys would love to buy dislocated crypto assets, use their government ties to bolster crypto-safety perceptions and make kajillions in profit. It's part of the private equity underwriting (PEU) playbook.
Politicians Red and Blue love PEU and increasingly, more are one. Ring a bell as Pat Toomey is in the fold.
Update: When FTX imploded the politically connected fled:
Eliora Katz, a former aide to Republican Sen. Pat Toomey, who was FTX's sole in-house lobbyist, is no longer working for the company.
The Toomey aide joined FTX while the Senator served as the leading Red Team member of the Banking Committee.
Update 5-23-23: Coinbase plans a "Moving America Forward" public relations campaign. The PEU lobby is named "American Investment Council."
Update 6-5-23: Binance's Chief Compliance Officer said in 2018:
"We are operating as a fucking unlicensed securities exchange in the USA bro.”
Make that Chief Compliance Evasion Officer...
