“Place the Money into Trust for the Victims,” says Brady
According to the Federal Election Commission, the CEO of FTX, Sam Bankman-Fried, contributed $9756.20 to the Democratic State Committee of Delaware on August 31, 2022, just months before his cryptocurrency company collapsed, with more than $1 billion of client money now missing.
“We are calling on the Delaware Democratic State Committee to return the donation to the victims who lost their savings in this collapse of FTX”, asserted Republican State Committee Chair Jane Brady.
FTX, the second largest donor nationally to the Democrat Party, donated almost $40 million to Democrats to influence the midterm elections according to the Federal Election Commission. Analysts believe Sam Bankman-Fried was seeking to buy preferential treatment in Washington, D.C. as his company was going bankrupt. “Investors, pensioners, and young people who trusted FTX got scammed”, declared Brady. “Any political entity or candidate who received money from Bankman-Fried or FTX should not keep it. That money rightfully belongs to the victims of the scheme”, stated Brady.
Bankman-Fried donated primarily to Democrats and Democrat-aligned groups — making him the second-biggest donor to the Party’s election efforts this year. The Delaware Republican State Committee did not receive any donations associated with the Bankman-Fried family or FTX.
Other political officials have already rejected the contribution. Sen. Dick Durbin (D-Ill.), the chamber’s No. 2 Democrat, will redirect Bankman-Fried’s $2,900 donation “to an appropriate charity,” a member of his staff told the New York Post as reported on November 15, 2022.
“There is already too much out-of-state money trying to buy election results in Delaware. The Delaware Democrats should return it to the victims”, stated Hank McCann, Republican National Committeeman.
The Biden Campaign received $10 million in 2020 from Sam Bankman-Fried. The White House did not say what Biden will do with funds that were used to support him, nor did the Democratic National Committee according to the New York Post.