Beto O’Rourke Is Holding On to $100K In Tainted Crypto Cash

Texas Democrat won $1M from Sam BankmanFried Sam BankmanFried and Beto Ol’Rourke, disgraced crypto kingpin

Beto O’Rourke claimed he had returned $1 million from Sam Bankman Fried to his campaign before the collapse of crypto kingpin, Bitcoin. Campaign records show that O’Rourke still has $100,000 of the donation. This raises questions about the claims of the failed Texas Democratic governoral candidate.

O’Rourke spokesperson said In November, the campaign returned an “unsolicited” Bankman-Fried made a $1 million donation on Oct. 11. O’Rourke is praised in a story for avoiding the “ethical headache” Chris Evans, O’Rourke spokesperson for Bankman-Fried’s funds, stated that the refund was made on Nov. 4, just before the election. “prior to the news stories that would later come out about the donor.”

O’Rourke’s recent campaign filing discredits those assurances. Last week’s campaign report revealed that Bankman-Fried received a $900,000. According to the campaign, it will keep the $100,000 remaining in the case against Bankman-Fried. He has been charged with fraud and campaign finance violations related to his cryptocurrency company, FTX.

O’Rourke said that the campaign would put the money in a fund. “victims of FTX’s collapse.” It is not clear why the campaign did not reserve a part of the donation to victims. The pledge also contradicts the initial claim of the campaign that Bankman-Fried had donated before it was notified about his wrongdoing. FTX declared bankruptcy November 11.

O’Rourke would be able to use $100,000 more cash, as his campaign only has $212,356 cash. O’Rourke has not indicated whether he will run for office in future. This year, he lost 11 points to Greg Abbott (R.), the governor of Texas. He lost the 2018 Senate race against Senator Ted Cruz (R.) in which he dropped out of 2020 Democratic presidential candidate race two months before his first primary.

Evans and O’Rourke did not respond when asked about the inconsistencies.

Bankman-Fried contributed $40 million to the 2022 cycle, mostly to Democrats. Entrepreneur of 30 years contributed More than $300,000. to Democratic members of House Financial Services Committee. This committee oversees the cryptocurrency industry. He donated $5 million to a PAC that supported Joe Biden in 2020, and indicated last year that he could contribute as much as $1 billion to Democrats.