1 year ago
Out of 535 senators and representatives successful the U.S. Congress, 196 were recovered to person taken donations successful currency from FTX.
The members of Congress were identified by CoinDesk journalists successful a ample research effort to radiance a airy connected Congress’ transportation to the failed exchange.
Journalists reached retired to each 196 members for comments and received responses from conscionable 53 campaigns.
Around 64% of the respondents said they decided to donate the amounts to nonprofit causes, portion 38% said they were holding the wealth and waiting for guidance connected however to springiness it back.
Five politicians were reportedly capable to instrumentality the wealth to FTX.
Several run managers who responded to the query reportedly expressed vexation with the ongoing concern with FTX and said regulators haven’t made it wide however to springiness the wealth back.
It’s inactive unclear however lawmakers volition attack Congress’ contented with FTX donations. So far, the probe into FTX lone revealed the nationalist nonstop donations the company’s executives made to assorted governmental candidates and campaigns.
Since 2021, FTX’s CEO Sam Bankman-Fried has spent astir $40 cardinal connected donations to legislature Democrats, becoming the fourth-largest idiosyncratic governmental donor successful 2022. Ryan Salame, FTX’s co-CEO, donated astir $24 cardinal to the Republican party’s candidates and causes. The donations made him the 11th largest donor successful the country.
However, these amounts mightiness lone correspond the extremity of the iceberg erstwhile it comes to the exchange’s governmental investments. Many presume that FTX executives made adjacent bigger donations to assorted governmental enactment committees (PACs).
PACs are governmental committees that tin solicit unlimited contributions from individuals successful bid to concern governmental enactment and aren’t required to place their donors.
The station Every 3rd subordinate of the US Congress received wealth from FTX appeared archetypal connected CryptoSlate.
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