by • In 2020, Sam Bankman-Fried (SBF) donated $5.2 million to Joe Biden’s campaign and more than $40 million to Democratic candidates leading up to the U.S. midterm election cycle.
• After SBF’s arrest, Democratic organizations are returning 2.2% of the money, or $1 million, to the now-defunct crypto exchange.
• Tesla CEO Elon Musk has suggested that SBF may have given up to $1 billion in donations to Democrats over the years.
Disgraced FTX Co-Founder Donates Millions To Democrats
In 2020, Sam Bankman-Fried (SBF) donated $5.2 million to Joe Biden’s presidential campaign and more than $40 million to Democrats leading up to the U.S. midterm election cycle. SBF was known as one of the top financial contributors to Democratic candidates, with an estimated one in three members of Congress receiving a direct contribution from him and his inner circle before his arrest.
Democrats To Return 2.2% Of Funds Donated By Disgraced Co-Founder
The bankrupt estate of FTX is now asking for the $45.2 million given by SBF and other donors be returned so it can pay back creditors, and three major Democratic organizations have agreed to return 2.2%, or approximately $1 million, of this amount back to the defunct crypto exchange company. This includes funds allocated by the Democratic National Committee (DNC) ($815,000), Congressional Campaign Committee ($353,000), and Senatorial Campaign Committee ($353,000).
White House Press Secretary Karine Jean-Pierre Comment On Funds Return
When asked about returning these funds during a press briefing on Dec 13th 2022 White House press secretary Karine Jean Pierre declined due citing The Hatch Act „Anything that’s connected to political contributions I would have refer you do DNC.“
Elon Musk Suggests Contributions May Have Been Even Higher Than Estimated
Tesla CEO Elon Musk has suggested that SBF may have made much larger contributions in donations than what is being reported – potentially as high as around a billion dollars – spread out over many years of giving money towards Democratic candidates..
FTX Bankrupt Estate Requests Returned Money To Pay Back Creditors
The bankrupt estate of FTX is requesting that all contributed funds be returned so it can use them towards paying off its creditors according too FEC records and data from opensecretsorg . The total sum donated by SBF stands at 4520000 which will be partially returned back by various democratic organisations mentioned above
