CULTURE OF CORRUPTION: Ill-Gotten Gains: Crypto Kingpin’s Donations Put Democrats in the Hot Seat.
The embattled crypto billionaire Sam Bankman-Fried, who is now under federal investigation and suspected of defrauding his investors, spent the election season shelling out cash to Democrats: $865,000 to the Democratic National Committee, $1 million to Sen. Chuck Schumer’s (D., N.Y.) Senate Majority PAC, and $6 million to the House Majority PAC.
With each passing day, it looks more and more like FTX’s customers won’t get their money back. But Democrats won’t say whether they’re going to hang on to the cash. The Democratic National Committee, Senate Majority PAC, and House Majority PAC did not respond to requests for comment about Bankman-Fried’s donations. The White House has also not weighed in on Bankman-Fried’s $5 million contribution to Future Forward PAC, which spent $74 million in support of Biden in 2020.
They’re keeping the cash.