FTX Founder Funneled Millions to Democrat Candidates

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Sam Bankman-Fried, the now-bankrupt founder of crypto exchange FTX, is a prolific donor of Democratic candidates and liberal causes, and infused at least $38 million into left-wing groups during the 2022 election cycle.

Bankman-Fried was the second-largest contributor to Democratic-affiliated political action committees (PACs) and organizations, behind only liberal financial magnate George Soros, who donated nearly $127 million during the midterm cycle, according to Federal Election Commission (FEC) data. However, the collapse of FTX this week has called into question Bankman-Fried’s finances.

A full-fledged liquidity crisis forced FTX to file for bankruptcy on Friday, and Bankman-Fried’s wealth, which was estimated to be $15.6 billion earlier this week, has sharply plummeted, according to the Bloomberg Billionaires Index. The index currently estimates Bankman-Fried has no material wealth.

“I’m sorry. That’s the biggest thing,” Bankman-Fried tweeted Thursday morning. “I f—ed up, and should have done better.”

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