Following the arrest of Sam Bankman-Fried, the former CEO of FTX, three prominent democrat groups have decided to return the $1 million donated by SBF funds to abusive investors.
The National Democratic Committee (DNC), the Democratic Senate Campaign Committee (DSCC), and the Democratic Congressional Campaign Committee (DCCC) pledged on December 16 that they would return Bankman-Fried’s political donation after his arrest.
A spokesperson for the DNC confirmed that the democrat groups will refund the amount in question while interviewing Verge, a media outlet. The spokesperson told The Verge:
“We are seeking funding to return the $815,000 worth of donations made to our organization since 2020 when it comes to allegations of Bankman-Fried’s potential campaign finance violations.”
According to the Washington Post, the DSCC and DCCC committees reportedly pledged $103,000 and $250,000, respectively. As is known, Sam Bankman-Fried also admitted to making significant donations to both sides of the political spectrum.
1) I was a significant donor in both D and R primaries.
Supporting constructive candidates across the family to prevent pandemics and bring a bipartisan climate to DC.
And working with them to support permissionless finance.
— SBF (@SBF_FTX) November 5, 2022
During a podcast broadcast in early 2022, the SBF announced plans to spend up to one billion dollars to help support the 2024 presidential election campaigns.
On the other hand, US White House Press Secretary Karine Jean-Pierre left unanswered questions regarding the return of past donations made by the SBF to the party.
Most recently, Bankman-Fried became the second-largest CEO donor in Joe Biden’s 2020 presidential campaign, with a donation of $5.2 billion.