• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Implication of FTX Founder's Family in Alleged Political Donation Scandal

user avatar

by Giorgi Kostiuk

a year ago


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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Spur Protocol App Offers Daily Rewards Through Quizzes

chest

Spur Protocol app users can earn tokens by participating in daily quizzes and other features.

user avatarMohamed Farouk

Cory Klippsten Predicts Bitcoin to Reach New All-Time High

chest

Cory Klippsten, CEO of Swan Bitcoin, predicts Bitcoin will exceed $125,000 by 2026, signaling optimism in the cryptocurrency market.

user avatarElias Mukuru

Layer1 Tokens Face Decline in 2025, Reports Castle Labs

chest

Castle Labs reports a decline in performance for most Layer1 tokens in 2025, with exceptions for BNB and TRX.

user avatarDiego Alvarez

Stellar XLM's Early Success Serves as a Lesson for Investors

chest

The early days of Stellar XLM highlight the importance of timing and belief in crypto investments.

user avatarKenji Takahashi

MEET48 Unveils AI Entertainment UGC Platform at Annual Roadshow

chest

MEET48 held its 2026 Annual Roadshow in Seoul, showcasing its AI Entertainment UGC platform and Web3 strategy, along with strategic partnerships and product launches.

user avatarMaria Fernandez

Anatoly Yakovenko Predicts Stablecoin Market to Exceed $1 Trillion by 2026

chest

Anatoly Yakovenko predicts that the stablecoin market capitalization will exceed $1 trillion by 2026, driven by rising institutional participation and real-world usage.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.