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FTX Demands Return of Political Donations

FTX, the bankrupt crypto exchange, is asking politicians to return approximately $93 million in political donations by the end of February.

The request is made through confidential letters sent to politicians and political beneficiaries of Sam Bankman-Fried, his deputies, and companies. FTX reserves the right to force repayments through court action and warned recipients that a payment or donation to a third party would not prevent FTX from seeking the return of the funds.

Influence Campaign Crosses Party Lines

Before the collapse of the FTX empire, Sam Bankman-Fried showered politicians with tens of millions of dollars in campaign contributions, making him one of the largest political donors during the last election cycle.

FTX logo
FTX logo

One in three members of the current U.S. Congress received contributions from Bankman-Fried's orbit. Despite many recipients trying to cancel out the scandal taint by making equivalent donations to charities, the debtors warned that such actions would not prevent FTX from seeking recovery.

FTX Brass Facing Criminal Charges

FTX's top brass is now facing criminal charges for their alleged multi-billion-dollar fraud. The trustee in the FTX bankruptcy case was added to the proceedings in December 2022.