FTX demands politicians and PACs return Sam Bankman-Fried’s donations

Bankrupt crypto exchange FTX has told the political world that it wants the donations its former CEO Sam Bankman-Fried gave out.

FTX founder Bankman-Fried and others in his regime gave away millions of dollars to political candidates and political action committees (PACs).

FTX’s newly-appointed CEO John John Jay Ray III

In a press release on Sunday, FTX warned that political contributions should be returned by Feb. 28. FTX also warned that the company would go after funds not returned voluntarily through legal means.

The company also reiterated that recipients who’ve donated funds connected to FTX to third parties like charities are not off the hook.

FTX filed for bankruptcy last year following a steep drop in the price of its exchange token FTT.

FTX’s founder Bankman-Fried was later arrested and charged with eight financial crimes, such as securities fraud, money laundering, and campaign finance violations by federal prosecutors in the Southern District of New York.

Bankman-Fried had maintained close ties to Democratic candidates and was one of the party’s largest donors in the 2020 election cycle.

Last month, White House Press Secretary Karine Jean-Pierre refused to comment on whether President Joe Biden would return funds he received as a candidate.

A public spreadsheet maintained by OpenSecrets.org, a nonprofit that monitors U.S. campaign finance and lobbying, has tracked more than $84 million in donations to political candidates and organizations between Bankman-Fried, former FTX co-CEO Ryan Salame, and FTX’s former head of engineering Nishad Singh.

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