{"id":1744194,"date":"2022-11-18T14:33:26","date_gmt":"2022-11-18T19:33:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1744194"},"modified":"2022-11-18T15:53:25","modified_gmt":"2022-11-18T20:53:25","slug":"sam-bankman-fried-and-ftx-cronies-gave-300k-to-house-committee-members-investigating-him","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sam-bankman-fried-and-ftx-cronies-gave-300k-to-house-committee-members-investigating-him\/","title":{"rendered":"Sam Bankman-Fried and FTX Cronies Gave $300k to House Committee Members Investigating Him"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/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%2Fsam-bankman-fried-and-ftx-cronies-gave-300k-to-house-committee-members-investigating-him%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=1744194&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>Sam Bankman-Fried and executives at his cryptocurrency firm contributed hundreds of thousands of dollars to members of the House committee that will hold hearings next month on the company\u2019s collapse.<\/p>\n<p>Bankman-Fried and his co-founders at FTX contributed $300,351 to nine members of the House Financial Services Committee, according to Federal Election Commission records. Some of the largest contributions were to Democrats on the committee\u2019s Digital Assets Working Group, which worked on regulation of the crypto industry. Rep. Maxine Waters (D., Calif.), who chairs the committee, announced a probe this week into FTX\u2019s collapse after the company declared bankruptcy, wiping out billions of dollars in customers\u2019 portfolios. The Justice Department and Securities Exchange Commission are reportedly investigating Bankman-Fried for potential misuse of customer funds.<\/p>\n<p>Bankman-Fried\u2019s donations to committee members could raise concerns that the lawmakers will not adequately investigate the crypto kingpin, who spent millions on advertising, lobbying, and philanthropic causes to burnish his company\u2019s image as an ethical crypto company in an industry rife with scam artists. Of the nine committee members who received contributions from Bankman-Fried, only Rep. Chuy Garcia (D., Ill.) has said he would return a $2,900 contribution from the billionaire. While Waters said the committee will investigate FTX\u2019s &#8220;collapse,&#8221; the Democrat has no apparent plans to look into Bankman-Fried\u2019s efforts to buy favor in Washington.<\/p>\n<p>Waters dodged questions this week about whether she is concerned about Bankman-Fried\u2019s political donations. &#8220;Well, I don&#8217;t want to get into that. As a matter of fact, both sides, Democrats and Republicans, have received donations,&#8221; she <a href=\"https:\/\/www.foxbusiness.com\/politics\/maxine-waters-dodges-question-ftx-democrat-ties-claims-both-sides-got-money\" target=\"_blank\" rel=\"noopener\">told<\/a> Fox Business.<\/p>\n<p>While Bankman-Fried has donated to Republicans, more than 95 percent of his contributions have gone to Democrats and Democratic committees. Along with top FTX executives, he contributed to seven Democrats and two Republicans on the Financial Services committee. They gave to five members of the committee\u2019s Digital Assets Working Group, which Waters launched last year to &#8220;support responsible innovation that protects consumers and investors&#8221; and to craft regulations for the industry. To date, the Digital Assets Working Group has not proposed regulations for the industry, which some lawmakers <a href=\"https:\/\/www.theblock.co\/post\/186347\/sen-pat-toomey-slams-congresss-failure-to-produce-crypto-regulation-in-good-time\" target=\"_blank\" rel=\"noopener\">say<\/a> would have blunted the impact of FTX\u2019s bankruptcy on its customers.<\/p>\n<p>Garcia was the biggest recipient of Bankman-Fried cash. Bankman-Fried\u2019s political action committee, Protect Our Future PAC, spent <a href=\"https:\/\/www.fec.gov\/data\/independent-expenditures\/?data_type=processed&amp;q_spender=C00801514&amp;is_notice=false&amp;most_recent=true&amp;candidate_id=H8IL04134&amp;min_date=01%2F01%2F2021&amp;max_date=12%2F31%2F2022\" target=\"_blank\" rel=\"noopener\">$199,851<\/a> on ads supporting Garcia, who serves on the committee\u2019s Digital Assets Working Group. Bankman-Fried contributed another <a href=\"https:\/\/www.fec.gov\/data\/receipts\/?data_type=processed&amp;committee_id=C00661777&amp;contributor_name=bankman-fried&amp;contributor_name=wetjen%2C+mark&amp;contributor_name=singh%2C+nishad&amp;contributor_name=ellison%2C+caroline&amp;contributor_name=salame%2C+ryan&amp;contributor_name=dexter%2C+zachary&amp;contributor_name=bryant%2C+danielle\" target=\"_blank\" rel=\"noopener\">$2,900<\/a> to Garcia\u2019s campaign.<\/p>\n<p>Bankman-Fried and his associates gave to four other members of the Digital Assets Working Group, Reps. Ritchie Torres (D., N.Y.), Josh Gottheimer (D., N.J.), Jim Himes (D., Conn.), and Sean Casten (D., Ill.).<\/p>\n<p>Bankman-Fried and his brother Gabriel gave\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/?data_type=processed&amp;committee_id=C00699744&amp;committee_id=C00753947&amp;committee_id=C00754598&amp;contributor_name=bankman-fried&amp;contributor_name=wetjen%2C+mark&amp;contributor_name=singh%2C+nishad&amp;contributor_name=ellison%2C+caroline&amp;contributor_name=salame%2C+ryan&amp;contributor_name=dexter%2C+zachary&amp;contributor_name=bryant%2C+danielle\" target=\"_blank\" rel=\"noopener\">$40,300<\/a>\u00a0in all to Torres\u2019s campaign and two of his political committees, the Torres Victory Fund and La Bamba PAC. Bankman-Fried and the head of FTX\u2019s regulatory division gave\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/?data_type=processed&amp;committee_id=C00573949&amp;committee_id=C00652164&amp;contributor_name=bankman-fried&amp;contributor_name=wetjen%2C+mark&amp;contributor_name=singh%2C+nishad&amp;contributor_name=ellison%2C+caroline&amp;contributor_name=salame%2C+ryan&amp;contributor_name=dexter%2C+zachary&amp;contributor_name=bryant%2C+danielle\" target=\"_blank\" rel=\"noopener\">$16,600<\/a>\u00a0to Gottheimer, while other Bankman-Fried associates contributed\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/?data_type=processed&amp;committee_id=C00434191&amp;contributor_name=bankman-fried&amp;contributor_name=wetjen%2C+mark&amp;contributor_name=singh%2C+nishad&amp;contributor_name=ellison%2C+caroline&amp;contributor_name=salame%2C+ryan&amp;contributor_name=dexter%2C+zachary&amp;contributor_name=bryant%2C+danielle\" target=\"_blank\" rel=\"noopener\">$500<\/a>\u00a0to Himes and\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/?data_type=processed&amp;committee_id=C00648493&amp;contributor_name=bankman-fried&amp;contributor_name=wetjen%2C+mark&amp;contributor_name=singh%2C+nishad&amp;contributor_name=ellison%2C+caroline&amp;contributor_name=salame%2C+ryan&amp;contributor_name=dexter%2C+zachary&amp;contributor_name=bryant%2C+danielle\" target=\"_blank\" rel=\"noopener\">$9,100<\/a> to Casten.<\/p>\n<p>Casten has another link to the embattled crypto titan. Gabriel Bankman-Fried, who directs his brother\u2019s political outreach, worked as a congressional aide for Casten until last year. He visited the White House on March 7 along with an adviser to the Democracy Alliance, the progressive network funded by Democratic billionaire donors.<\/p>\n<p>Bankman-Fried contributed\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/?data_type=processed&amp;committee_id=C00721449&amp;contributor_name=bankman-fried&amp;contributor_name=wetjen%2C+mark&amp;contributor_name=singh%2C+nishad&amp;contributor_name=ellison%2C+caroline&amp;contributor_name=salame%2C+ryan&amp;contributor_name=dexter%2C+zachary&amp;contributor_name=bryant%2C+danielle\" target=\"_blank\" rel=\"noopener\">$11,600<\/a>\u00a0to House Financial Services Committee members Rep. Jake Auchincloss (D., Mass.) and\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/?data_type=processed&amp;committee_id=C00767863&amp;contributor_name=bankman-fried&amp;contributor_name=wetjen%2C+mark&amp;contributor_name=singh%2C+nishad&amp;contributor_name=ellison%2C+caroline&amp;contributor_name=salame%2C+ryan&amp;contributor_name=dexter%2C+zachary&amp;contributor_name=bryant%2C+danielle\" target=\"_blank\" rel=\"noopener\">$5,000<\/a>\u00a0to the super PAC for Rep. Cindy Axne (D., Iowa), an apparent violation of her\u00a0<a href=\"https:\/\/freebeacon.com\/democrats\/iowa-dem-candidate-sidesteps-self-imposed-corporate-pac-money-ban\/\" target=\"_blank\" rel=\"noopener\">self-imposed pledge<\/a>\u00a0to reject campaign donations from corporations.<\/p>\n<p>His intensive lobbying campaign appeared to pay off before his company\u2019s demise. He supported legislation proposed by Sen. Debbie Stabenow (D., Mich.) and Sen. John Boozman (R., Ark.) that would have subjected the crypto industry to regulation by the Commodity Futures Trading Commission, not the larger and aggressive Securities and Exchange Commission.<\/p>\n<p>Bankman-Fried\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/individual-contributions\/?committee_id=C00148999&amp;committee_id=C00344473&amp;committee_id=C00413914&amp;committee_id=C00495580&amp;committee_id=C00540500&amp;committee_id=C00663781&amp;committee_id=C00768762&amp;contributor_name=sam+bankman-fried&amp;two_year_transaction_period=2022&amp;min_date=01%2F01%2F2021&amp;max_date=12%2F31%2F2022\" target=\"_blank\" rel=\"noopener\">donated<\/a>\u00a0$5,800 to Stabenow\u2019s campaign in February and $20,800 to her joint fundraising committee in January. Bankman-Fried\u00a0<a href=\"https:\/\/www.fec.gov\/data\/receipts\/individual-contributions\/?committee_id=C00473371&amp;committee_id=C00476317&amp;contributor_name=sam+bankman-fried&amp;two_year_transaction_period=2022&amp;min_date=01%2F01%2F2021&amp;max_date=12%2F31%2F2022\" target=\"_blank\" rel=\"noopener\">gave<\/a>\u00a0$5,800 to Boozman in January and $5,800 to committee member Sen. John Hoeven (R., N.D.) in June. He gave a combined $31,000 to campaigns and joint fundraising committees tied to Sens. Cory Booker (D., N.J.), Tina Smith (D., Minn.), Dick Durbin (D., Ill.), and Kirsten Gillibrand (D., N.Y.), who serve on the Senate Agriculture Committee.<\/p>\n<p>The 30-year-old entrepreneur donated $5 million to a super PAC that supported President Joe Biden in 2020 and $40 million this cycle, largely to Democrats. He contributed $6 million to the House Majority PAC, $1 million to the Senate Majority PAC, and nearly $900,000 to the Democratic National Committee.<\/p>\n<p>The donations secured him White House meetings and appearances earlier this year at Democrats\u2019 annual retreat in Philadelphia. Bankman-Fried visited the White House three times this year with lobbyists from his company, the\u00a0<em>Washington Free Beacon<\/em>\u00a0<a href=\"https:\/\/freebeacon.com\/biden-administration\/beleaguered-crypto-billionaire-was-hobnobbing-at-white-house-just-six-months-ago\/\" target=\"_blank\" rel=\"noopener\">reported<\/a>. They met on April 22 and May 12 with Steve Ricchetti, one of Biden\u2019s closest advisers. Bankman-Fried\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=F_kZELcynKQ\" target=\"_blank\" rel=\"noopener\">testified<\/a>\u00a0before the House Financial Services Committee on Dec. 7, where he said his goal in starting FTX was to &#8220;have a positive impact around the world.&#8221; He\u00a0<a href=\"https:\/\/web.archive.org\/web\/20220310185455\/https:\/twitter.com\/ChrisBrummerDr\/status\/1501993968694927364\" target=\"_blank\" rel=\"noopener\">appeared<\/a>\u00a0on a panel with Waters at the Democratic retreat in Philadelphia in March and was photographed arm-in-arm with the committee chairwoman after the event.<\/p>\n<p>Waters\u2019s office did not respond to questions about Bankman-Fried\u2019s donations to committee members.<\/p>\n<div class=\"tag-list\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sam Bankman-Fried and executives at his cryptocurrency firm contributed hundreds of thousands of dollars to members of the House committee that will hold hearings next month on the company\u2019s collapse.<br \/>\nThe post Sam Bankman-Fried and FTX Cronies Gave $300k to House Committee Members Investigating Him appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":155,"featured_media":1891525,"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":"Sam Bankman-Fried and FTX Cronies Gave $300k to House Committee Members Investigating Him","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1744194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"Sam Bankman-Fried and FTX Cronies Gave $300k to House Committee Members Investigating Him","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1744194","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\/155"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1744194"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1744194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1891525"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1744194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1744194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1744194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}