Dem Rep Says Politicians ‘Should Return’ Donations From Disgraced Former Crypto CEO
Harold Hutchison on December 14, 2022
Democratic Rep. Henry Cuellar of Texas said Wednesday that politicians should give any donations received from former FTX CEO Sam Bankman-Fried to charity.
“I think they should return it to charity,” Cuellar told CNN This Morning host Kaitlan Collins during an interview.
Bankman-Fried reportedly donated $36 million to Democrats in the 2022 midterm election cycle, and claimed he gave a similar amount to Republicans. Bahamian authorities arrested Bankman-Fried Tuesday, while the United States government indicted him on eight counts of fraud.
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Bankman-Fried ran the now defunct crypto-currency exchange FTX, until it declared bankruptcy Nov. 11 following a report by Coindesk that alleged customer funds were being misused. He allegedly loaned $10 billion to Alameda Capital, another company he ran and reportedly planned to donate $1 billion to Democratic causes.
Collins asked Cuellar if Bankman-Fried had donated to his campaigns. Bankman-Fried reportedly sent campaign contributions to Democratic Reps. Sean Patrick Mahoney and Ritchie Torres of New York, among other candidates.
“I think you’re incorrect on that. I think you’re not correct,” Cuellar told Collins. “As far as I know, they have not donated to me.”
The collapse of FTX cost investors as much as $2 billion, according to Reuters.
Dem Rep Says Politicians ‘Should Return’ Donations From Disgraced Former Crypto CEO
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