- SBF donated roughly $45 million, mostly to Democratic campaigns and committees
- Prosecutors of SBF reached out to the DNC, and DCCC for investigations
- SBF Prosecutors contacted prominent Democratic Party members about political donations
The New York Times reported that SBF prosecutors approached Democratic members of Congress, as well as the Democratic Congressional Campaign Committee and the Democratic National Committees (DNC).
According to reports, the prosecutors investigating former FTX CEO Sam Bankman-Fried (SBF) have contacted prominent Democratic Party members and demanded information regarding the entrepreneur’s political donations.
A representative from the Southern District of New York’s U.S. Attorney’s Office addressed an email to Marc Elias, an election lawyer for the Democratic Party, requesting information about SBF’s donations. The Democratic and Republican parties received identical emails.
In the past weeks, Sam Bankman-Fried, Crypto billionaire and founder of FTX, has admitted to being a major donor to both sides of the political spectrum prior to the midterm elections of 2022.
Mr. Bankman-Fried is the only executive charged thus far. In the months preceding the 2020 election, he has donated roughly $45 million, mostly to Democratic campaigns and committees that are now attempting to distance themselves.
In other news, Heavily-battered crypto exchange Binance received some validation from on-chain analysis platform CryptoQuant, which published a report claiming that the exchange’s proof of reserve (PoR) is indeed solid.
According to the report, Binance’s bitcoin (BTC) reserve is “very close to [CryptoQuant’s] estimation” of up to 99%. CryptoQuant also claimed a similar thing for the exchange’s ether (ETH) reserve. This is very important, given that these two assets are the largest cryptocurrencies in terms of market capitalization.
