Sam Bankman-Fried Used $100 Million in Stolen Cash for Political Donations, DOJ Alleges
The Department of Justice has alleged that Sam Bankman-Fried, the founder of FTX, misappropriated and embezzled customer funds to make over $100 million in political campaign contributions to both Democrats and Republicans ahead of the 2022 U.S. midterm elections. Bankman-Fried, who was jailed on Friday, used the funds to influence cryptocurrency regulation and continued to do so even after FTX's collapse in November 2022. His trial is expected to start in October.
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Sam Bankman-Fried Used $100 Million in Stolen Cash for Political Donations, DOJ Alleges
The Department of Justice has alleged that Sam Bankman-Fried, the founder of FTX, misappropriated and embezzled customer funds to make over $100 million in political campaign contributions to both Democrats and Republicans ahead of the 2022 U.S. midterm elections. Bankman-Fried, who was jailed on Friday, used the funds to influence cryptocurrency regulation and continued to do so even after FTX's collapse in November 2022. His trial is expected to start in October.