So I was watching this video by Crypto Chico. It's not my video. I invite you to open in YouTube and give it a like.
Crypto Chico does amazing work at researching crypto projects. I've made decent money just listening to his research. Yet one thing about Chico is that he's brutally honest.
In the video that I shared. He list 13 crypto projects that applied and received loans from the Paycheck protection program. That program was part of the covid relief bill, passed by the US Congress. There was a significant amount of money designated to help small businesses survive the shut down.
Yet a week after the banking institutions received the money. The Banks announced reluctancy to distribute the money. Stating that they did not have the system to do so. Then a week or so later Wells Fargo aka "Wells Fraudo', announced they had run out of funds to give. As the rest of the Banks began to complain that they weren't given enough. Yet thousands, if not millions of small business owners were denied assistance.
Little by little, as information was released concerning certain companies that received the money. Several companies return the money. As people expressed outrage at them having accepted the funds. These were several huge restaurant chains. Along with other multimillion-dollar organizations. Crypto Chico has done several videos on this topic. Even mentions the Los Angeles Lakers one of those receiving companies.
I highly recommend you follow this channel. What's the infuriating about this topic. Is not only that the money was designated to help smaller businesses owners. People who were barely surviving before the plandemic. It's the fact that companies were allowed to receive the money. Meanwhile how many thousands of small business owners lost everything.
One of the companies listed is based out of Singapore. The CEO of another on that list released a video on YouTube explaining his decision. In this video he justifies his decision by stating that because they're competitors were receiving money. Then his company had to also. Forget the millions of businesses owners that actually needed the help.
Sadly the above list is only a list of companies in the crypto industry. It's not suggesting that they have poor products. Yet they're decision to accept money that they clearly did not need. Denying assistance two others who might have survived the plandemic. Shows a lack of integrity and character. In my opinion.
I'm writing this post because this information needs to be shared. There has to accountability. Why was this allowed to happen? What is being done to remedy the situation. What consequences resulted in this complete disregard for the funds allocated. This is not just about the money. People's livelihoods were crushed. Their dreams stollen from them. Years of sacrifice and struggle cancelled in a moment.
This disregard for the consequences resulting from the negligence of others, cannot be allowed to continue. It's not just in the U.S. This negligence and disregard is global. All around the world that you are seeing examples politicians, officials, and corporations completely disrespecting the average person. They can only do this because they've been allowed to. I think it's time to demand accountability. Thanks for sharing with me.
Please share this post. Please visit Cryoto Chico's YouTube channel. Show him some love.
Thanks again.
God Bless.
