Members of the House Financial Services Committee have received hundreds of thousands of dollars from Sam Bankman-Fried and others at his now-bankrupt cryptocurrency company FTX.
Nine members of the House Financial Services Committee have received money from FTX totaling more than $300,000, according to a review of Federal Election Commission records by the Washington Free Beacon.
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Bankman-Fried was a major contributor to Democratic candidates during the midterm election cycle, funneling most of his donations through a political action committee called Protect Our Future PAC.
Rep. Chuy Garcia, a Democrat from Illinois, is the only member of the committee who publicly pledged to return a $2,900 contribution from FTX executives. The lawmaker was also the recipient of a nearly $200,000 ad blitz funded by the Protect Our Future PAC.
Bankman-Fried funneled an estimated $262,200 to Republicans through the 2021-2022 election cycle, according to FEC records. His contributions to the Republicans paled in comparison he contributed almost 40 million dollars to Democratic campaigns, but still represented a significant sum, compared to most Americans.
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Asked whether Democrats who received campaign money from FTX should return it, committee chairman Rep. Maxine Waters: “Well, I don’t want to get into that. Actually, both sides, Democrats and Republicans, have received donations. So thank you.”
Overall, in 2021 and 2022, Bankman-Fried donated nearly $38 million to various candidates and PACs, and mainly gives its money to Democratic candidates and left-leaning groups, according to Federal Election Commission (FEC) filings.
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The majority of his political donations, however, went to Protect Our Future PAC, a group founded in January dedicated to bolstering candidates committed to preventing future pandemics.
Wednesday was Bankman-Fried affected by a class action filed by investors who alleged that he and other high-profile celebrities — such as legendary NFL quarterback Tom Brady and NBA star Stephen Curry — violated Florida law and caused consumers to suffer more than $11 billion in damages.
Fox News’ Kristen Altus and Thomas Catenacci contributed to this report.