• Sam Bankman-Fried was a major donor to the Democratic Party in the US, donating $45.2 million.
• However, only 2.2% or $1 million of the money will be returned to FTX’s bankruptcy estate.
• Bankman-Fried has also donated anonymously to Republican politicians and his donations to Democrats have been public knowledge.
Donation from FTX Co-Founder Sam Bankman-Fried
Sam Bankman-Fried was a major donor to the Democratic Party in the US, donating over $45.2 million ahead of the 2022 midterm election. Of this sum, only $1 million is being returned to FTX’s bankruptcy estate – making up just 2.2% of what he gave away.
Anonymous Contributions to Republicans
In addition to his donations to Democrats, Bankman-Fried has also made anonymous contributions towards Republican politicians as well. When asked about it during an interview with Tiffany Fong, he said that journalists “freak out if you donate to Republicans.”
FTX Files For Chapter 11 Bankruptcy
FTX and its group of crypto companies had filed for Chapter 11 bankruptcy in early November 2020 and its new CEO John Ray III requested for some of the funds that were donated by Bankman-Fried earlier on be returned back into their bankruptcy estate. The recipients of these donations have since received private messages asking them to return these funds by February 28th 2021 or face possible legal action from FTX’s debtors if they refused regardlessly.