• 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

Massive Expiry of Bitcoin and Ethereum Options on Deribit

chest

A total of $30 billion in crypto options, including $24 billion in Bitcoin and $6 billion in Ethereum, are set to expire on Deribit, potentially causing significant market volatility.

user avatarDavid Robinson

Argentina Sees Economic Growth Despite Market Challenges

chest

Argentina's economic activity surged by 3.2% in October compared to the same month last year, despite a market downturn before the midterm elections.

user avatarAndrew Smith

Argentina's Senate Greenlights President Milei's 2026 Budget Plan

chest

The Argentine Senate has approved President Javier Milei's 2026 budget plan, marking a significant legislative victory.

user avatarJacob Williams

Rumors of Ethereum's 2026 Upgrade Lack Official Confirmation

chest

Unverified claims about a significant Ethereum upgrade called Glamsterdam in 2026 lack official confirmation.

user avatarZainab Kamara

Binance Wallet Announces TGE Tranche 43 for COLLECT

chest

Binance Wallet announces TGE tranche 43 for the COLLECT project, with subscriptions starting on December 27th, 2025. Investors are cautious due to lack of official verification.

user avatarSon Min-ho

New Wave of Crypto ETFs Expected in 2026

chest

Galaxy Digital anticipates the launch of over 50 new spot altcoin ETFs in the US in 2026, following the SEC's approval of generic listing standards.

user avatarTando Nkube

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.