• Sam Bankman-Fried was a major donor to the Democratic Party in the US, donating $45.2 million ahead of the 2022 midterm election.
• The Democratic National Committee (DNC) is only returning 2.2% of that money – or $1 million – to FTX’s bankruptcy estate.
• FTX and its group of crypto companies filed for Chapter 11 bankruptcy in early November, resulting in Bankman-Fried’s arrest in The Bahamas.

Sam Bankman-Fried: Major Political Donor

FTX founder Sam Bankman-Fried was a major donor to the Democratic Party in the US, donating more than $46m to candidates and groups affiliated with it before his crypto trading firm Alameda Research collapsed and FTX filed for Chapter 11 bankruptcy.

Returning Funds To FTX

The funds that are now being returned by Democrats make up just 2.2% – or $1 million – of what Bankman-Fried donated to political candidates from the Democratic Party. Of the $1m, the DNC has said it would return $850,000 to FTX. John Ray III, FTX’s new CEO, had requested that some of these donations be returned back to their bankruptcy estate by February 28th.

Donations To Republicans

Bankman-Fried has also said in an interview with crypto influencer Tiffany Fong that he donated anonymously to Republican politicians because “journalists freak out” if they find out about such donations.

George Soros: Top Donor For 2021/2022 Election Cycle

According to available data, Bankman-Fried was the second largest donor to the Democratic Party after billionaire George Soros during this election cycle.

Bankruptcy & Arrest In The Bahamas

FTX and its group of crypto companies filed for Chapter 11 bankruptcy in early November while Sam Bankman-Fried was later arrested by US prosecutors in The Bahamas on suspicion of insider trading and other financial crimes related to his time at Alameda Research and FTX .