SBF Reveals Dark Donations to US Officials, FEC to Probe

SBF Had a Secret 'Back Door' to Transfer Billions: Report
  • Citizens for Responsibility and Ethics in Washington (CREW) complained SBF to the FEC
  • FTX illegally contributed millions of dollars to Republicans
  • Bitcoin YouTuber Tiffany Fong interviewed SBF

The Citizens for Responsibility and Ethics in Washington (CREW) complained to the Federal Election Commission (FEC) on December 8 about statements made by Bankman-Fried in an interview with Bitcoin YouTuber Tiffany Fong that was published on YouTube on November 29.

Read CRYPTONEWSLAND on Google News google news

CREW requests a probe into Sam Bankman-Fried’s political contributions, stating that the former CEO of FTX illegally contributed millions of dollars to Republicans.

CREW Senior Vice President and Chief Counsel Donald Sherman explained,

Taking him at his word, Bankman-Fried was able to direct at least $37 million to influence federal elections while evading federal laws that require disclosure of the true source of the contributions. The FEC needs to commence an immediate investigation into Sam Bankman-Fried.

Sherman added “Bankman-Fried said the quiet part out loud. He admitted that he violated federal laws designed to ensure Americans have transparency into those funding elections and now needs to be held accountable.”

By utilizing intermediaries and saying they were unaware of where the donations ended up, affluent donors frequently circumvent federal disclosure regulations using the Citizen United ruling. However, Bankman-Fried’s admission destroys this reasonable claim.

CREW has filed a formal complaint with the FEC, requesting an investigation and additional action, including a referral to the Department of Justice.

In other news, FTX founder Sam Bankman-Fried`s father, Stanford Law professor Joseph Bankman, has canceled the one class he was scheduled to teach this winter. As a result, neither of the FTX founder’s professor parents will be teaching at Stanford Law the following quarter.

Crypto News Land ( , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

related posts