Coin Week

  • bitcoinBitcoin$23,409.000.22%
  • ethereumEthereum$1,678.111.34%
  • binancecoinBNB$330.05-0.04%
  • rippleXRP$0.4151351.09%
  • dogecoinDogecoin$0.0978566.84%
  • solanaSolana$24.710.73%

Sam Bankman-Fried confesses to political donations

Sam Bankman-Fried made donations to Republicans

Image source: ABC News

Sam Bankman-Fried said he has donated to both Democratic and Republican parties.

The revelation of the founder and former CEO of bankrupt cryptocurrency exchange FTX was a surprise to people as he was a Democrat advocate.

The revelation

During a recent interview with Tiffany Fong, the founder of FTX revealed that he has donated to both parties, saying:

“I donated to both parties.”

“I donated about the same amount to both parties,” added Bankman-Fried.

Democratic donations

Since the cryptocurrency exchange launched in 2019, Sam Bankman-Fried (SBF) has mainly supported Democratic candidates.

In 2020, SBF was a major donor to Joe Biden’s campaign that led to his presidency.

He donated $5,220,000 from FTX US with another $6,242,800 from Alameda Research.

Read also: Sam Bankman-Fried admits to screwing up at FTX

Republican donations

SBF quoted the Citizens United Supreme Court case when talking about his donations to the Republican Party.

“All my Republican donations were dark,” said Bankman-Fried.

“In practice, no one can fathom the idea that someone actually gave dark [money].”

Dark money

Political finance watchdog website Open Secrets refers to “dark money” as spending that affects political outcomes without disclosing the source of the money.

Sam Bankman-Fried explained that he chose to donate black money to avoid publicity.

He also said reporters “freak the **** out if you donate to Republicans.”

The former FTX CEP called the reporters super liberals and said he didn’t want to start a fight with his donations.

SBF explains that they lost in the primary because there were good and bad candidates compared to the legislative elections.

However, Bankman-Fried should have specified what he considers a good or bad candidate.

Ukraine rumors

Sam Bankman-Fried also waved off the ongoing rumors that he was helping Ukraine launder money for the Democratic Party.

The nonprofit, nonpartisan polling organization FactCheck.org also called the claim false.

The group wrote an article denying the allegations:

“There is no evidence to support the claim that Ukraine invested in or gave money to FTX.”

Sam Bankman-Fried says he can’t imagine why Ukraine would launder funds for the Democratic Party or how anyone would launder funds.

“I wish I were a part of an international conspiracy that interesting,” said SBF.

Read also: Sam Bankman-Fried suffers biggest loss in a day

Other notes

Following the company’s meltdown, several US officials called for an investigation into Sam Bankman-Fried and FTX.

The US Financial Services Committee called for SBF to testify in Washington on December 13th.

Reference:

SBF hid Republican donations so media wouldn’t ‘freak the fuck out’

Opinions expressed by Coin Week contributors are their own.

LATEST POSTS