{"id":1739630,"date":"2022-11-15T12:03:21","date_gmt":"2022-11-15T17:03:21","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1739630"},"modified":"2022-11-15T12:03:24","modified_gmt":"2022-11-15T17:03:24","slug":"here-are-the-democrats-and-republicans-who-received-campaign-cash-linked-to-bankrupt-crypto-empire-ftx","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/here-are-the-democrats-and-republicans-who-received-campaign-cash-linked-to-bankrupt-crypto-empire-ftx\/","title":{"rendered":"Here Are The Democrats And Republicans Who Received Campaign Cash Linked To Bankrupt Crypto Empire FTX"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhere-are-the-democrats-and-republicans-who-received-campaign-cash-linked-to-bankrupt-crypto-empire-ftx%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1739630&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><a href=\"http:\/\/dailywire.com\/topic\/democrats\" target=\"_blank\" rel=\"noopener\">Democrats<\/a> heavily benefited from the campaign contributions of disgraced cryptocurrency billionaire and FTX CEO Sam Bankman-Fried, while other affiliates of the company likewise helped <a href=\"http:\/\/dailywire.com\/topic\/republicans\" target=\"_blank\" rel=\"noopener\">Republicans<\/a> ahead of the company\u2019s failure last week.<\/p>\n<p>FTX filed for <a href=\"https:\/\/www.dailywire.com\/news\/30-year-old-billionaire-loses-entire-fortune-overnight-as-his-bahamas-based-cryptocurrency-empire-implodes\" target=\"_blank\" rel=\"noopener\">bankruptcy<\/a> on Friday after users discovered that firms controlled by Bankman-Fried were allegedly fraudulently intertwined, causing him to lose his fortune overnight. The young multibillionaire contributed nearly $39 million during the recent midterm elections, with 99.6% of funds benefiting Democratic candidates, according to <a href=\"https:\/\/www.opensecrets.org\/outside-spending\/top_donors\/2022?disp=D&#038;type=V&#038;superonly=N\" target=\"_blank\" rel=\"noopener\">data<\/a> from Open Secrets, which listed him as the nation\u2019s sixth-largest individual midterm donor.<\/p>\n<p>The 30 year old <a href=\"https:\/\/www.opensecrets.org\/outside-spending\/donor_detail\/2022?id=U0000004705&#038;type=I&#038;super_only=N&#038;name=Bankman-Fried%2C+Sam\" target=\"_blank\" rel=\"noopener\">donated<\/a> $27 million to Protect Our Future PAC, a left-leaning group which in turn <a href=\"https:\/\/www.opensecrets.org\/political-action-committees-pacs\/protect-our-future-pac\/C00801514\/independent-expenditures\/2022\" target=\"_blank\" rel=\"noopener\">spent<\/a> heavily on behalf of Democratic candidates for the House of Representatives. A contribution of over $10 million from Protect Our Future PAC benefited Carrick Flynn, who lost his Democratic primary in Oregon. Other beneficiaries included Rep. Lucy McBath (D-GA), Rep. Shontel Brown (D-OH), Rep. Robert Garcia (D-NC), and Rep. Valerie Foushee (D-NC), all of whom won re-election.<\/p>\n<p>Bankman-Fried also contributed $1 million to the Senate Majority PAC, which supports Democratic candidates for the Senate, and $6 million to the House Majority PAC. During the 2020 election cycle, he was the second-largest donor to the Biden campaign.<\/p>\n<p>Bankman-Fried directly supported a number of individual candidates as well. Two such candidates, Rep. Kevin Hern (R-OK) and Rep. Jesus \u201cChuy\u201d Garcia (D-IL) donated their respective $5,000 and $2,900 contributions to charity after FTX filed for bankruptcy, according to a <a href=\"https:\/\/www.theblock.co\/post\/186918\/gop-lawmaker-donates-ftx-execs-campaign-contribution\" target=\"_blank\" rel=\"noopener\">report<\/a> from The Block.<\/p>\n<p>FTX Co-CEO Ryan Salame donated heavily to right-leaning organizations, according to more <a href=\"https:\/\/www.opensecrets.org\/outside-spending\/donor_detail\/2022?id=U0000004758&#038;type=I&#038;super_only=N&#038;name=Salame%2C+Ryan+D.+%26+Susan\" target=\"_blank\" rel=\"noopener\">data<\/a> from Open Secrets. He contributed $12 million to American Dream Federal Action, a right-leaning group which <a href=\"https:\/\/www.opensecrets.org\/political-action-committees-pacs\/C00809020\/independent-expenditures\/2022\" target=\"_blank\" rel=\"noopener\">spent<\/a> on behalf of candidates such as victorious Republican Senate nominees Ted Budd and Katie Britt, of North Carolina and Alabama, respectively.<\/p>\n<p>Salame also contributed $2 million to the Congressional Leadership Fund and $2.5 million to the Senate Leadership Fund, which are the Republican equivalents of the House Majority PAC and Senate Majority PAC. The latter group, which is directed by Senate Minority Leader Mitch McConnell (R-KY), came under criticism following the midterms for arguably deprioritizing important swing-state races critical to Republicans.<\/p>\n<p>Bankman-Fried, a self-proclaimed \u201ceffective altruist,\u201d had been <a href=\"https:\/\/www.dailywire.com\/news\/billionaire-ftx-founder-who-lost-entire-fortune-gave-massive-sum-to-democrats-before-empire-collapsed\" target=\"_blank\" rel=\"noopener\">preparing<\/a> to spend as much as $1 billion during the 2024 election cycle to keep the Democratic Party in control of the White House. His parents, Stanford Law School professors Joseph Bankman and Barbara Fried, are <a href=\"https:\/\/www.dailywire.com\/news\/biden-ukraine-and-a-30-year-old-crypto-billionaire-how-the-implosion-of-ftx-connects-to-the-global-elite\" target=\"_blank\" rel=\"noopener\">well-connected<\/a> within Democratic circles. The former has aided Sen. Elizabeth Warren (D-MA) with drafting financial regulations, while the latter leads Mind the Gap, a left-wing organization which raises funds for the Democrats among wealthy Silicon Valley donors.<\/p>\n<p>Earlier this year, Bankman-Fried launched an initiative alongside Ukraine\u2019s Ministry of Digital Transformation to fundraise for the embattled nation, which has received billions in humanitarian and military <a href=\"https:\/\/www.dailywire.com\/news\/biden-admin-sending-5-5-billion-more-in-aid-to-ukraine\" target=\"_blank\" rel=\"noopener\">aid<\/a> from the Biden administration, marking \u201cthe first instance of a cryptocurrency exchange providing a conduit for crypto donations to a public financial institution,\u201d according to a <a href=\"https:\/\/www.prnewswire.com\/news-releases\/ukraines-ministry-of-digital-transformation-ftx-and-everstake-launch-crypto-fundraising-site-aid-for-ukraine-301501959.html\" target=\"_blank\" rel=\"noopener\">press release<\/a> from a Ukrainian-based cryptocurrency firm. FTX converted the donations into fiat currencies and transmitted the funds to the National Bank of Ukraine.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democrats heavily benefited from the campaign contributions of disgraced cryptocurrency billionaire and FTX CEO Sam Bankman-Fried, while other affiliates of the company likewise helped Republicans ahead of the company\u2019s failure last week. FTX filed for bankruptcy on Friday after users discovered that firms controlled by Bankman-Fried were allegedly fraudulently intertwined, causing him to lose his &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1739635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1739630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1739630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1739630"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1739630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1739635"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1739630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1739630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1739630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}