• 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

India Arrests Two in Bitconnect Kidnapping Case

chest

Indian authorities have arrested two men, Nikunj Bhatt and Sanjay Kotadiya, in connection with laundering cryptocurrency extorted after the Bitconnect Ponzi collapse.

user avatarLeo van der Veen

XRP Faces Critical Resistance at 220 Amid Short-Term Bounce

chest

XRP is currently trading within a descending channel, with a significant resistance level at 220. A recent bounce from the 183 support level has generated interest among traders.

user avatarMaya Lundqvist

Michael Burry Closes Hedge Fund Amid Market Concerns

chest

Michael Burry closed his hedge fund, Scion Asset Management, in 2021 due to a disconnect between his valuation estimates and current market conditions, raising concerns about market valuations and investor sentiment.

user avatarLi Weicheng

SMTG Makes Strategic Investment in Bitcoin Proxy

chest

SMTG, a Japanese banking conglomerate, has made a strategic investment in a Bitcoin proxy by acquiring 606,629 shares of Strategy, valued at approximately 966 million, to gain exposure to Bitcoin without regulatory challenges.

user avatarTenzin Dorje

Critical Support Level for LINK Identified

chest

The 10 to 11 support level for LINK is crucial for determining future price movements.

user avatarAisha Farooq

Valour Receives FCA Approval for Crypto Exchange-Traded Products

chest

Valour, the UK subsidiary of DeFi Technologies, has received regulatory approval from the FCA to offer crypto exchange-traded products to retail investors on the London Stock Exchange.

user avatarBayarjavkhlan Ganbaatar

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.