The bankrupt cryptocurrency exchange FTX has stated that it is considering using legal means to recoup any payments or contributions made by its affiliated companies and former executives, which may include the millions of dollars donated to political causes by the company’s former CEO Sam Bankman-Fried, Cointelegraph informed.
According to Cointelegraph, in an official release, the company has said, “been approached by a number of recipients of contributions or other payments.”
Following Bankman-arrest Fried’s indictment just last week, three illustrious Democratic organisations vowed to return more than $1 million in political contributions, Cointelegraph noted.
Cointelegraph noted that with $36.8 million wired to candidates, Bankman-Fried was the second-largest donor to the Democratic Party in the 2022 mid-term elections. Additionally, he contributed $5.2 million, making him the second-largest “CEO-contributor” to Joe Biden’s 2020 presidential campaign in the United States. In an interview with cryptocurrency vlogger Tiffany Fong on November 16, the founder of FTX stated that he had “donated about the same to both parties,” but that his contributions to Republicans were “dark.”
On December 13, Bankman-Fried was accused of breaking several campaign finance laws, including those pertaining to contributions, obstructing the work of the Federal Election Commission, and making contributions on behalf of other people, Cointelegraph further noted.
(With insights from Cointelegraph)