• 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

2 years 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

Solana's Strategic Fee Restructuring and Upcoming Alpenglow Upgrade

chest

In 2025, Solana made significant changes to its fee structure by redirecting 100% of priority fees to validators and implementing automatic distribution to SOL stakers.

user avatarLucas Weissmann

Binance to List Ripple USD RLUSD with Zero-Fee Trading

chest

Binance will list Ripple USD RLUSD and launch a zero-fee trading activity on January 21.

user avatarEmily Carter

Luxury Watches Show Resilience Amid Bitcoin Decline

chest

Luxury watches are showing resilience with a 4% price increase, contrasting with Bitcoin's 25% decline, indicating a shift towards tangible assets.

user avatarFilippo Romano

Institutional Influence Shapes Airdrop Design Strategies

chest

The design of airdrops is being influenced by institutional players, leading to more selective distribution strategies.

user avatarMaria Gutierrez

Focus on Infrastructure and Privacy in Airdrop Strategies for 2026

chest

The report highlights a focus on infrastructure-led sectors and the importance of privacy technologies in airdrop strategies.

user avatarDavid Robinson

Rain Raises $250 Million in Series C Financing.

chest

Rain secures $250 million in Series C funding to enhance its position in the competitive crypto payments market.

user avatarTomas Novak

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.