Elon Musk Suspects Former FTX CEO Sam Bankman-Fried Donated Over $1B to Support Democrats – Bitcoin News

Tesla CEO and Twitter chief Elon Musk says former FTX CEO Sam Bankman-Fried (SBF) likely donated over $1 billion to support the Democratic Party, which would be a much larger sum than the figure that was released. Many people slammed Musk for making accusations without providing evidence. “This statement is so incredibly irresponsible,” one commented.

Elon Musk believes SBF has donated over $1B to the Democratic Party

Tesla CEO and Twitter boss Elon Musk believes that Sam Bankman-Fried (SBF), co-founder and former CEO of the collapsed cryptocurrency exchange FTX, donated much more than the publicly disclosed amount to support the Democratic Party in elections.

Bankman-Fried was the second largest donor to the Democratic Party, behind billionaire George Soros, in the 2021-2022 election cycle. According to Opensecrets, he donated $39,884,256 to Democrats before FTX imploded and had to file for bankruptcy. An estimated one million customers and investors lost billions of dollars in the stock market collapse. FTX is currently being investigated for the mishandling of customer funds.

Musk’s statement was in response to a comment on Twitter that Bankman-Fried donating $40 million to avoid prison after stealing over $10 billion is one of the highest return on investment (ROI) of all time. Musk claimed that $40 billion is only the publicly disclosed figure, noting that Bankman-Fried’s actual electoral support for the Democratic Party is “probably” over $1 billion. “The money went somewhere, so where did it go?” tweeted the Tesla boss.

Elon Musk Suspects Former FTX CEO Sam Bankman-Fried Donated Over $1 Billion To Support Democrats

While his donations to the Democratic Party were public knowledge, Bankman-Fried claimed in an interview that he also donated a similar amount to the Republican Party. However, he said all of his Republican donations were “dark.”

At the time of writing, Musk’s tweet has received over 4,500 comments and has been liked over 124,000 times. While some people agreed with the Tesla CEO, many were shocked by Musk’s accusations, demanding that the billionaire provide evidence to back up his statement.

“This is literally misinformation,” one exclaimed. Another wrote: “[Musk] baseless to suggest that SBF violated federal laws on election contributions.” A third thought: “Serious allegations by Elon Musk that POTUS accepted stolen funds to run for president.” Some people reminded Musk that Bankman-Fried already explained that he donated the same amount to Republicans. Twitter user Justin Higgins warned:

This statement is so incredibly irresponsible. Musk has now turned Twitter into an explicitly anti-democratic party company. No sane company that wants solid relationships with both parties on Capitol Hill would advertise on Twitter. I can’t see how the Twitter ad $ is returning…

Others simply questioned why SBF is not in prison yet. “We can just all do white collar crimes and pay people off?” one asked. Many emphasized that they want politicians to return “stolen” funds they received from the former FTX boss.

Tags in this story

Dem Election, Democratic Party, Elon Musk, Elon Musk Democratic Party, Elon Musk Republican Party, Elon Musk Sam Bankman-Fried, Elon Musk SBF, Sam Bankman-Fried, sbf, SBF Democratic Party, SBF Republican Party

What do you think of Elon Musk’s statement about how much Bankman-Fried donated to the Democratic Party? Let us know in the comments section below.

Kevin Helms

A student of Austrian economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the intersection of economics and cryptography.

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