- DoJ drops charges against FTX’s Sam Bankman-Fried, sparking controversy.
- Robert F. Kennedy Jr. cites normalized corruption as a bigger concern.
- Questions arise over the timing and political connections in Bankman-Fried’s case.
In a surprising turn of events, the Department of Justice (DoJ) has decided not to pursue six additional charges against Sam Bankman-Fried, the former CEO of the FTX crypto exchange, who was previously found guilty of seven counts of fraud in November. The move has sparked controversy and raised questions about the state of justice in the crypto world.
Notably, U.S. presidential contender Robert F. Kennedy Jr. has shared his opinion on the matter, expressing his lack of surprise at the DoJ’s decision. Kennedy, a vocal supporter of Bitcoin, took to the social media platform X to state that the normalization of corruption is a more significant issue than the fraud itself. He emphasized the lack of surprise among the public, highlighting the alarming acceptance of corruption in the system.
Bankman-Fried was initially expected to face six additional charges, including unlawful political campaign contributions, conspiracy to commit bank fraud, substantive securities and commodities fraud, conspiracy to operate an unlicensed money-transmitting business, and conspiracy to bribe foreign officials. However, the DoJ’s recent decision has left many in the crypto community disappointed, with some labeling it a “miscarriage of justice”.
The founder of Crypto Law, John Deaton, questioned the timing of the case being dropped, particularly in an election year. Deaton pointed to Caroline Ellison’s testimony during Bankman-Fried’s fraud trial, where she revealed that the crypto mogul gave $10 million to the Biden Administration to “buy access”.
Bankman-Fried, a major donor to Democrats in the past election cycle, reportedly contributed over $40 million through super PACs and direct contributions. Despite his significant political contributions, he claimed that the millions donated to the political party went unnoticed as they were classified as “dark money.”
The controversy surrounding the DoJ’s decision and the alleged political connections have fueled discussions about the integrity of the justice system within the crypto space, adding a layer of complexity to the ongoing narrative around the regulation and accountability of crypto industry players.
