FTX grifter Sam Bankman-Fried admits to donating millions in dark money to Republican candidates in 2022, in an interview with a crypto reporter, Tiffany Fong.
The cryptocurrency exchange founder confirmed reports that he donated upwards of $41 million to Democratic candidates, but that was only half the story.
“I donated to both parties,” Bankman-Fried told Fong “I donated about the same amount to both parties. That was not generally known because despite Citizen’s United being literally the highest-profile Supreme Court case of the decade, no one can possibly fathom the idea that someone in practice actually gave dark.”
“All of my Republican donations were dark, he added.”
Listen to the interview below.
While it’s not unusual for big-money donors to hedge their bets – donating to both parties in crucial elections – the lack of transparency certainly raises questions.
The Securities and Exchange Commission launched an inquiry into cryptocurrency and blockchain companies earlier this year, including FTX.
Several Republican members of congress benefited from large donations – directly and indirectly – from the company in question after the third highest-ranking member in GOP leadership sent a letter to the regulating agency.
Rep. Tom Emmer (R-MN), head of the National Republican Congressional Committee, responsible for campaigning for House Republicans, drafted the letter.
Posting on Twitter, Congressman Emmer accused the SEC’s information request of being “overburdensome.”
My office has received numerous tips from crypto and blockchain firms that SEC Chair @GaryGensler’s information reporting “requests” to the crypto community are overburdensome, don’t feel particularly… voluntary… and are stifling innovation.
— Tom Emmer (@RepTomEmmer) March 16, 2022
In the 2022 election cycle, NRCC’s associated super PAC, the Congressional Leadership Fund, received $2.75 million from FTX, The Prospect reported.
In September, FTX co-CEO Ryan Salame personally donated $2 million and another $750,000 from the company’s political action committee.
This is in addition to the half a million dollars given to Rep. Ted Budd (R-NC) – a signatory of the letter – from a super PAC created by Salame.
While Bankman-Fried claims his donations were evenly split between Democratic and Republican parties, Salame gave $23.6 million in funding to GOP candidates in the 2022 cycle alone–money credited with helping the GOP take back the House, albeit by a slim margin.
Senators Lisa Murkowski (R-AK), Katie Britt (R-AL), and John Hoeven (R-ND) also benefited from FTX’s generosity for their crypto and blockchain-friendly leanings.
Cryptocurrencies have lost over $2 trillion in value this year, and FTX’s fall was one heard around the world – losing billions of customer deposits.
Just two weeks before filing for bankruptcy, FTX gave $1 million to Senate Leadership Fund PAC associated with Senate Minority Leader Mitch McConnell (R-KY).
Listen to the interview here.
Wild. Sam Bankman-Fried, who gave nearly $40M to Democratic committees in 2022, said in an interview that he secretly “donated about the same amount to both parties.”
— Brendan Fischer (@brendan_fischer) November 30, 2022