{"id":14611,"date":"2022-11-18T23:01:49","date_gmt":"2022-11-18T23:01:49","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftx-execs-gave-70-million-to-both-democrats-and-republicans-heading-into-the-2022-us-midterms-bitcoin-news\/"},"modified":"2022-11-18T23:01:49","modified_gmt":"2022-11-18T23:01:49","slug":"ftx-execs-gave-70-million-to-both-democrats-and-republicans-heading-into-the-2022-us-midterms-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftx-execs-gave-70-million-to-both-democrats-and-republicans-heading-into-the-2022-us-midterms-bitcoin-news\/","title":{"rendered":"FTX Execs Gave $70 Million to Both Democrats and Republicans Heading Into the 2022 US Midterms \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
\n<\/p>\n

\n
\n<\/header>\n
\n<\/div>\n

After the collapse of FTX, a number of journalists reported on the fact that FTX executives deployed significant donations to political leaders in the United States. During the most recent election cycle leading up to the U.S. midterms in 2022, reports claim that Sam Bankman-Fried donated more than $40 million to Democrats via super PACs and direct contributions. Furthermore, reports also claim that FTX Digital Markets\u2019 co-chief executive officer Ryan Salame gave $22 million to Republicans. <\/strong><\/p>\n

High-up FTX Executives Injected $57 Million Into Democrat Coffers, $22 Million Went to Republican Candidates<\/h2>\n

It\u2019s very clear that before filing for bankruptcy protection, high-up FTX officials donated millions of U.S. dollars to America\u2019s two-party system of bureaucrats. Sam Bankman-Fried (SBF) was reportedly the second largest donor to the Democratic party, after George Soros, according to records<\/a> from opensecrets.org. In fact, opensecrets.org data<\/a> says that the top three FTX executives Bankman-Fried, Salame, and Nishad Singh gave both the Democrats and Republicans $70.1 million for the 2022 midterm election cycle.<\/p>\n

\"FTX
Some of Sam Bankman-Fried\u2019s (SBF) donations in 2022 via opensecrets.org. SBF was the second-largest megadonor under George Soros in terms of donating to Democratic organizations.<\/figcaption><\/figure>\n

\u201cAmong the three executives, $57 million was given to Democratic candidates, while $22 million went to Republican candidates,\u201d opensecrets.org details. \u201cBankman-Fried was the second biggest Democratic-leaning megadonor and Salame was 10th largest Republican donor this election cycle,\u201d the report adds.<\/p>\n

It has also been reported<\/a> that SBF donated $5.2 million to president Joe Biden\u2019s campaign via two super PACs in 2020. In fact, SBF\u2019s donation in 2020 was the second largest donation behind Michael Bloomberg\u2019s $56 million donation. There\u2019s been a lot of talk <\/a>about how this funding to American politicians could possibly buy FTX executives immunity in order to \u201cstay out of jail.\u201d<\/p>\n

\"FTX
Sam Bankman-Fried (SBF) and congresswoman Maxine Waters (D-CA) have already met on a couple of occasions. Waters is leading the charge to investigate the FTX collapse and announced a U.S. House Financial Services Committee hearing about the subject.<\/figcaption><\/figure>\n

People have even scoffed at the upcoming U.S. bipartisan congressional hearing and investigation into the FTX collapse introduced<\/a> by congresswoman Maxine Waters (D-CA) and representative Patrick McHenry (R-N.C.). The reason people do not think executives like SBF will get in trouble with politicians like Waters is because she met with SBF<\/a> on a couple<\/a> of occasions. Congresswoman Waters also blew SBF a kiss<\/a> when he finished testifying in front of Congress and left the Capitol building.<\/p>\n

Democrat and Republican followers on social media have been bickering for days about how each party took funds from the fallen crypto exchange\u2019s high-up executives. Because $57 million was given to Democrats, Republicans think they have the upper hand, while Democrat supporters believe Republican bureaucrats were just as dirty. Furthermore, FTX\u2019s fallout has swayed certain politicians from both parties who have tried to wipe their hands clean.<\/p>\n

\"FTX
While followers of the Democrat and Republican parties are aware of the news, on social media, blue and red followers blame one side or the other, and they don\u2019t seem to care that both political parties are involved.<\/figcaption><\/figure>\n

Politico reports<\/a> the two U.S. politicians Chuy Garc\u00eda (D-IL) and Kevin Hern (R-OK), \u201chave given local charities money equal to the amount they received from FTX leaders, according to their spokespeople.\u201d In light of SBF\u2019s donation, Garcia donated $2,900 to the Northwest Center in Chicago. Hern gave $5,000 to the charity called Food on the Move to match the donation Salame gave to his Hern Victory Fund organization.<\/p>\n

\n
\nTags in this story
\n<\/h6>\n
Biden Campaign<\/a>, both parties<\/a>, campaign donations<\/a>, Chuy Garc\u00eda<\/a>, Congress<\/a>, Congresswoman<\/a>, Democrat bureaucrats<\/a>, Democrats<\/a>, FTX collapse<\/a>, FTX executives<\/a>, immunity<\/a>, Joe Biden<\/a>, Kevin Hern<\/a>, Maxine Waters<\/a>, mid-term election cycle<\/a>, Nishad Singh<\/a>, opensecrets.org<\/a>, patrick mchenry<\/a>, Republican bureaucrats<\/a>, Republicans<\/a>, Ryan Salame<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, U.S. politicians<\/a><\/div>\n<\/div>\n

What do you think about the political donations Democrats and Republicans received from high-up FTX executives? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

\n
\n<\/div>\n
\n
\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

\n
\n
\n<\/a>
\n<\/span>\n<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: Ben Garrison, grrrgraphics.com, opensecrets.org, <\/em><\/p>\n

\n

Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

\n