FTX To US Politicians: Give Us Back The Money, Or Else… | Bitcoinist.com


FTX founder Sam Bankman-Fried once gave out lots of money to people that many wondered where it all came from. These people included powerful figures in public service and the regular ones, not to mention those who already have the wherewithal in the private sector.

We’re talking about hundreds of millions of dollars for giveaways. Was it bribe money? Gift? Or, for a good cause like charity?

How To Get Free Crypto  
Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

Who cares?

He just showered politicos with tens of millions of dollars in campaign contributions. The recipients just welcomed it with open arms and shut up.

Fast forward to 2023. The party’s over. And, FTX wants all of the money back.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

FTX Wants The Benjamins Back

FTX is sending “confidential letters” to former donor recipients asking for the donated funds to be returned, the bankrupt crypto exchange said in a press release Sunday.

“FTX Debtors are sending confidential messages to political figures, political action funds, and other recipients of contributions that were made by or at the direction of the FTX Debtors, Samuel Bankman-Fried or other officers or principals of the FTX Debtors,” the press release read in part.

The recipients have until February 28, 2023 to “return such funds” to the FTX Debtors, according to the announcement. The move comes after FTX issued a call for fund recipients to repay the money voluntarily in December.

Previously, the same creditors calculated that Bankman-Fried donated $93 million to political causes. According to the press release, if the monies are not returned freely, the debtors “retain the right” to pursue legal action to compel payback, plus interest.

Coinbase Banner  

Sam Bankman-Fried. Image: EuroNews

Clawing Back The Political Donations

Bankman-Fried, the 30-year-old former CEO of FTX, was the Democrats’ second-largest donor between 2020 and 2022, providing more than $37 million to the party’s electoral campaigns.

Open Secrets showed that FTX Digital Markets Co-CEO Ryan Salame contributed roughly $20 million to Republican candidates throughout the same period.

Now, here’s a tweet by “unusual_whales” with an image of the list of recipients of the donated money:

Twitter use Kane Vato commented on the list by saying:

Another Twitter user, DrinkWater, pitched in:

FTX has also attempted to retrieve the millions of dollars that the cryptocurrency exchange and Bankman-Fried donated to charity, but this may be difficult given that some of the funds have already been spent.

FTX has apparently been attempting to reclaim money it donated to Florida students as scholarships, in addition to the contributions it has received from politicians.

FreeBitcoin Banner  

The federal government asserts that Bankman-Fried misused consumer money for campaign contributions, real estate purchases, and venture capital investments. He has maintained his innocence despite numerous counts of fraud and conspiracy charges.

Bankman-Fried pled not guilty to allegations of fraud, conspiracy, campaign finance law violations, and money laundering in a New York federal court last month.

Crypto total market cap at $1 trillion on the daily chart | Chart: TradingView.com

Bankman-Fried is currently under house arrest in his parents’ home in California, with a digital monitor strapped on his ankle.

If convicted of any one of the eight counts for which he has been accused, he faces life in federal prison without the option of supervised release.

Meanwhile, John Ray III, the new CEO of FTX, stated that the exchange can be restored. Despite the company’s collapse, he hasn’t given up hope for its recovery and has done all possible to breathe new life into the failed business.

Featured image from Lawyer Monthly

Go to Source
Author: Christian Encila

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.