Recent reports have implicated Sam Bankman-Fried's family, linked to the cryptocurrency exchange FTX, in a scandal involving the alleged misuse of nearly $100 million from FTX customers for political donations. The Wall Street Journal has revealed emails shedding light on the involvement of Joe Bankman, Barbara Fried, and Gabriel Bankman-Fried in this scandal. Joe Bankman, a Stanford University professor, reportedly provided financial advice for the political contributions. Barbara Fried directed funds to progressive groups through the political action committee Mind the Gap, while Gabriel Bankman-Fried directed donations to pandemic prevention efforts. These actions were aimed at subtly expanding their political influence. The legal implications of these allegations are significant, with David Mason, a former chairman of the Federal Election Commission, highlighting evidence of Joe Bankman's involvement. Former FTX executives Ryan Salame and Nishad Singh admitted to their roles in an illegal straw-donor scheme to conceal the source of donations. Despite denials from Joe Bankman's spokesperson, email evidence contradicts claims of innocence, indicating potential legal consequences under campaign finance laws. The accused individuals may face serious legal challenges as investigations continue, emphasizing the repercussions of using misappropriated funds for political gain.
Implication of FTX Founder's Family in Alleged Political Donation Scandal

by Giorgi Kostiuk
a year ago

Other news
JPMorgan Introduces MONY Tokenized Money Market Fund

On December 15, 2025, JPMorgan Asset Management launched the My OnChain Net Yield Fund (MONY), a tokenized money market fund that allows qualified investors to hold yield-bearing dollar assets directly on-chain.

Physical Attacks on Crypto Holders Rise in 2025

The year 2025 has seen a notable increase in wrench attacks, or physical assaults on crypto holders, with at least 65 recorded instances. Security experts advise crypto users to enhance personal security measures.

Developers Urged to Strengthen Security Against Credential Theft

Security experts urge developers to adopt stronger practices against credential theft and social engineering.

Experts Stress Importance of Traditional Security Practices in Crypto

Experts emphasize the need for users to follow traditional security practices to protect their crypto assets.

Crypto Security Experts Warn of Rising Social Engineering Attacks

Crypto security experts warn that social engineering tactics will be the primary source of exploits in 2026, shifting focus from technical vulnerabilities.

Musk's Remarks on Bitcoin Influence Market Sentiment

Elon Musk's recent comments on Bitcoin's energy use and economic growth have significantly influenced market perceptions, drawing comparisons to his previous statements that triggered market volatility.

Be the first to know about crypto news every day
Get crypto analysis, news and updates right to your inbox! Sign up here so you don’t miss a single newsletter