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It's possible that the well-known collapse of FTX, which Sam Bankman-Fried (SBF) oversaw, may have a big impact on US politics. Sam Bankman-Fried provided financial support to dozens of congressional candidates. These candidates are primarily Democrats. It's unknown where SBF's funding from after FTX declared bankruptcy last week.
SBF contributed nearly $39.7 million to Democratic groups during the 2022 federal election season, according to an article on NBC News. This includes the Democratic National Committee and GMI PAC Inc., the crypto industry's most popular PAC. SBF is now the second-largest donor to Democrats as a result. The biggest donor, George Soros, a philanthropist, gave Democrats $129 million.
Sam Bankman-Fried invested $10 million in Joe Biden's election in the year 2020. My interest in the relationship between SBF and the Democratic Party is piqued by this. It's interesting to note that Democrats are also involved with Barbara Fried, the mother of SBF. She is a Stanford law professor, according to a report in the New York Post, and a co-founder of the Democratic action organization Mind The Gap, which has raised $140 million to aid Democrats in winning the election.
Controversial Conspiracy Theory of Elon Musk
Elon Musk, the new CEO of Twitter, has been wondering whether SBF was using the FTX market to launder money for Democrats. establishing links between family members and business associates of Bankman-Fried and the World Economic Forum, a target of the populist right. According to Musk, these tenuous and weak arguments are adequate grounds for suspicion. On Monday, Musk tweeted that it is "a question worth asking" if SBF assisted in money laundering.
Rumors about SBF use FTX to launder money for Democrats (Source: Twitter)
Final Thoughts
It's not entirely clear how the Bankman-Fried family is related to the Democratic party in this case. I never would have guessed that a former crypto billionaire would have any ties to a political party and maybe engage in illegal actions in addition to squandering customers' money.
Right now, all we have are rumors, and it will probably be a while before we find out the truth. I'm eager to find out exactly what happened with FTX and what SBF did in the past to lead to the current predicament.
It's possible that the well-known collapse of FTX, which Sam Bankman-Fried (SBF) oversaw, may have a big impact on US politics. Sam Bankman-Fried provided financial support to dozens of congressional candidates. These candidates are primarily Democrats. It's unknown where SBF's funding from after FTX declared bankruptcy last week.
Bankman-Fried Donated Millions on Democrat Campaigns (Source: CNBC)
SBF contributed nearly $39.7 million to Democratic groups during the 2022 federal election season, according to an article on NBC News. This includes the Democratic National Committee and GMI PAC Inc., the crypto industry's most popular PAC. SBF is now the second-largest donor to Democrats as a result. The biggest donor, George Soros, a philanthropist, gave Democrats $129 million.
Sam Bankman-Fried invested $10 million in Joe Biden's election in the year 2020. My interest in the relationship between SBF and the Democratic Party is piqued by this. It's interesting to note that Democrats are also involved with Barbara Fried, the mother of SBF. She is a Stanford law professor, according to a report in the New York Post, and a co-founder of the Democratic action organization Mind The Gap, which has raised $140 million to aid Democrats in winning the election.
Controversial Conspiracy Theory of Elon Musk
Elon Musk, the new CEO of Twitter, has been wondering whether SBF was using the FTX market to launder money for Democrats. establishing links between family members and business associates of Bankman-Fried and the World Economic Forum, a target of the populist right. According to Musk, these tenuous and weak arguments are adequate grounds for suspicion. On Monday, Musk tweeted that it is "a question worth asking" if SBF assisted in money laundering.
Rumors about SBF use FTX to launder money for Democrats (Source: Twitter)
Final Thoughts
It's not entirely clear how the Bankman-Fried family is related to the Democratic party in this case. I never would have guessed that a former crypto billionaire would have any ties to a political party and maybe engage in illegal actions in addition to squandering customers' money.
Right now, all we have are rumors, and it will probably be a while before we find out the truth. I'm eager to find out exactly what happened with FTX and what SBF did in the past to lead to the current predicament.
