According to our colleagues at CoinDesk, more than one US Congressman has received funding from Sam Bankman-Fried or other FTX executives. Among them, some have not decided what they intend to do with this money, while others have chosen to give it back or donate it themselves.
More than a third of congressional lawmakers funded by FTX executives
A survey conducted by our colleagues at CoinDesk reports that more than one in three US Congressmen received donations from Sam Bankman-Fried (SBF) or other FTX executives. In fact, within the 118th legislature that took office on January 3, made up of 100 senators and 435 deputies, 196 of these elected officials are affectedwhich therefore represents 36.6%.
This money was raised as part of the respective campaign finances of the politicians in question. It is important to note that the elections for this 118th Congress took place on November 8, three days before the bankruptcy of FTX. This means that interested people campaigned before the events that shook our ecosystem, and were therefore unaware of all the scam operated by SBF.
However, this proves once again the extent of the pressure exerted by the former chief executive officer of FTXwho then himself admitted that all these donations were just a facade to build his image.
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Part of the funds returned
Now that the truth about FTX has been revealed, CoinDesk has interviewed each of the 196 elected officials affected by this money so we know what they plan to do with it. Among these legislators, 143 did not provide answers19 have planned to return the money or have already returned it, and 34 have decided to return the sums received.
Anthony Sabino, a bankruptcy expert and law professor at St. John’s University in New York, believes so justice could force the beneficiaries to return this money whether he believed the donations in question should be reclassified as fraudulent wire transfers. This could then be valid, even if these funds were redistributed behind:
“The law doesn’t care if you gave it to Mother Teresa. […] If you’re out of money, too bad. You are still responsible. »
For his part, Republican Mitt Romney, for example, has chosen to do so transfer the $5,800 it received to the US Treasury.
This isn’t the first time the question has arisen funding received from political figures in the FTX case. Last month, several Democrat-affiliated parties announced the return of some of the donations, while the White House has yet to comment on the matter.
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Source: CoinDesk
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I timidly discovered the world of blockchain in late 2018 during my quest for financial freedom. Initially invested moderately, only two years later I took the bet of betting everything on the movement that was then taking shape. I then dedicate 2021 to training better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I know, I want to share with you.
Vincenzo Mayor
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