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Nov 30 - FTX billionaire Sam Bankman-Fried funneled dark money to Republicans



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 2 months ago '18        #1
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ChrisPartlowFro 
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Nov 30 - FTX billionaire Sam Bankman-Fried funneled dark money to Republicans
 

 
FTX billionaire Sam Bankman-Fried funneled dark money to Republicans

The crypto entrepreneur was thought to be a big donor to Democrats but now acknowledges he gave equally to GOP

Bankman-Fried said most of his donations to Republicans were not publicly disclosed.
The fall of crypto billionaire Sam Bankman-Fried has been painted as a big blow to the Democratic party, whose candidates were major beneficiaries of his largesse. But in a new interview, Bankman-Fried has claimed he gave equally large amounts of money to Republicans.

“I donated to both parties. I donated about the same amount to both parties,” Bankman-Fried told the crypto commentator and citizen journalist Tiffany Fong.


“All my Republican donations were dark,” he said, referring to political donations that are not publicly disclosed. “The reason was not for regulatory reasons, it’s because reporters freak the fu*k out if you donate to Republicans. They’re all super liberal, and I didn’t want to have that f*ght.”

Bankman-Fried’s undisclosed donations were made possible by the supreme court’s 2010 decision in the Citizen’s United case, which allowed donors to give anonymously and has led to more than $1bn being poured into federal elections since 2010.

The revelation comes as a political battle over the collapse of FTX, Bankman-Fried’s crypto exchange, is shaping up in Washington.

Bankman-Fried was the second-largest donor to Democratic politicians in the last election cycle. The Republican senator Ted Cruz has called FTX “a Bernie Madoff style fraud that cost investors BILLIONS”.

“Will Joe Biden and Democrats who cashed Bankman-Fried’s checks give that money to the people SBF screwed?” he wrote on Twitter earlier this month.

On Thursday the Senate will hold the first in what is expected to be a series of hearings into FTX’s collapse, with Republicans keen to hold Democrats responsible for a lack of oversight before its collapse.

Public data shows that some parts of Bankman-Fried’s empire gave equally to both parties. Data from OpenSecrets, a non-profit that tracks data on campaign finance and lobbying, shows FTX US, the company’s US operation, gave equally to both parties.

But Bankman-Fried’s public donations went largely to Democrats. The FTX founder gave more than $990,000 to candidates in the last election cycle, according to OpenSecrets, and another $38.8m to outside groups. Only about $235,000 of his public political giving went toward Republican candidates.

The money helped Bankman-Fried position himself as an influential voice in crypto regulation in Washington. In February he testified before the same Senate agricultural committee that will hold the first hearing into FTX’s collapse this Thursday.

At the February hearing, Bankman-Fried argued for clarity in regulating the crypto market and outlined “FTX’s key principles for ensuring investor protections.” They included:

● Maintaining adequate liquid resources to ensure the platform can return the customer’s a*sets upon request;

● Ensuring the environment where customer a*sets are custodied, including digital wallets, are kept secure; and

● Ensuring appropriate bookkeeping or ledgering of a*sets and disclosures to protect against misuse or misallocation of customer a*sets.

Bankman-Fried was ousted after the company filed for bankruptcy. The new chief executive, John Ray III, who has overseen some of the biggest bankruptcies ever, including the collapse of the energy giant Enron, said FTX suffered an “unprecedented and complete failure of corporate controls”.

According to FTX’s new management, a “substantial portion” of a*sets held by FTX may be “missing or stolen” and the company did not even keep accurate records of who worked there.
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32 comments
 

 2 months ago '21        #2
Tlatoani  topics gone triple plat - Number 1 spot x1
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+1   

 2 months ago '17        #3
WHATEVERMAN 
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Wow, it's almost like behind closed doors all these people play for the same team. Weird.
+18   

Top 10 most slapped recently  2 months ago '17        #4
Ymmot  topics gone triple plat - Number 1 spot x5
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Of course he did. Everyone knows that. He wanted crypto to stay de-regulated so he could rip a bunch of people off.
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 2 months ago '22        #5
Booda Sack  topics gone triple plat - Number 1 spot x10
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He said it was dark because the media would freak out and attack him if it was public

 2 months ago '05        #6
youngvito18 
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 WHATEVERMAN said
Wow, it's almost like behind closed doors all these people play for the same team. Weird.
This

Anyone who thinks a POLITICIAN will not take money from a billionaire is dumb

Because that's what Sam was.....a billionaire
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 2 months ago '05        #7
bklyn 
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This guy was the second biggest democrat donor behind Soros. He donated 34 million to Democrats for this election cycle. Yet the article is trying to highlight his donations to Republicans lol Aren't "dark donations" illegal? Should be locking this guy up for his crypto ponzi scheme.
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Top 10 most slapped recently  2 months ago '17        #8
Ymmot  topics gone triple plat - Number 1 spot x5
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 bklyn said
This guy was the second biggest democrat donor behind Soros. He donated 34 million to Democrats for this election cycle. Yet the article is trying to highlight his donations to Republicans lol Aren't "dark donations" illegal? Should be locking this guy up for his crypto ponzi scheme.
Do you know why he gave so much money to Democrats?

 2 months ago '05        #9
bklyn 
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 Ymmot said
Do you know why he gave so much money to Democrats?
So when it all came crashing down he wouldn't go to prison. If this guy were truly donating to Republicans, the media wouldn't be trying to do puff pieces to keep him out of jail. Imagine the media doing puff pieces on the My Pillow guy if he scammed people out of billions of dollars.

The kid knew what he was doing. Claims to public he's living this frugal lifestyle with a regular car, he's gonna donate it all blah blah. He's got muliple mansions one in NY, one in Bahamas. He gave his friends and co workers mansions. Guy is a fraud and needs to be in prison for this ponzi.
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Top 10 most propped recently  2 months ago '21        #10
nocomment  topics gone triple plat - Number 1 spot x11
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 Ymmot said
Do you know why he gave so much money to Democrats?
paying to stay outta jail when his scheme went bust, he gang gang for real
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 2 months ago '10        #11
acegutta22  topics gone triple plat - Number 1 spot x2
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 bklyn said
This guy was the second biggest democrat donor behind Soros. He donated 34 million to Democrats for this election cycle. Yet the article is trying to highlight his donations to Republicans lol Aren't "dark donations" illegal? Should be locking this guy up for his crypto ponzi scheme.
have you never heard of citezen united where the supreme court said money is free speech?

 2 months ago '18        #12
ChrisPartlowFro  OP
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 bklyn said
So when it all came crashing down he wouldn't go to prison. If this guy were truly donating to Republicans, the media wouldn't be trying to do puff pieces to keep him out of jail. Imagine the media doing puff pieces on the My Pillow guy if he scammed people out of billions of dollars.

The kid knew what he was doing. Claims to public he's living this frugal lifestyle with a regular car, he's gonna donate it all blah blah. He's got muliple mansions one in NY, one in Bahamas. He gave his friends and co workers mansions. Guy is a fraud and needs to be in prison for this ponzi.
No one is doing puff pieces, shut the fu*k up. Is the reporting, which he confirmed at Dealbook a “puff piece” to you? Literally everyone from WSJ, FT, Bloomberg…the list goes on, is trying to sh*t on dude, Andrew Ross Sorkin was giving him some ether last night at Dealbook which was broadcast on CNBC…you’re talking out of your a*s. Even Vox has gotten in on this sh*t.

The article mentions pure facts and somehow to you that’s a puff piece? You just want to be mad.

You sound like a snowflake

 2 months ago '20        #13
sportersify 
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If you're democrat, you can pretty much be a hypocrite. The sh*t they say conservatives do... they openly do without consequence. That's so so many billionaires support democrats... while democrats out yelling eat the rich in their 5 star hotels and teslas.
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 2 months ago '22        #14
HERMES  topics gone triple plat - Number 1 spot x9
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 2 months ago '08        #15
cohs  topics gone triple plat - Number 1 spot x14
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So he gave to both and the other guy in his company gave to republicans too. Sounds like they double dipped on this. hmmm.

Top 10 most slapped recently  2 months ago '17        #16
Ymmot  topics gone triple plat - Number 1 spot x5
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 bklyn said
So when it all came crashing down he wouldn't go to prison. If this guy were truly donating to Republicans, the media wouldn't be trying to do puff pieces to keep him out of jail. Imagine the media doing puff pieces on the My Pillow guy if he scammed people out of billions of dollars.

The kid knew what he was doing. Claims to public he's living this frugal lifestyle with a regular car, he's gonna donate it all blah blah. He's got muliple mansions one in NY, one in Bahamas. He gave his friends and co workers mansions. Guy is a fraud and needs to be in prison for this ponzi.
Because he was trying to lobby them to keep crypto de-regulated. Republicans are already on board with de-regulation. If he can get Democrats on board with de-regulation then he can pull off the exact type of stunt that he did. Are you dudes starting to understand why de-regulation sucks?
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Top 10 most slapped recently  2 months ago '17        #17
Ymmot  topics gone triple plat - Number 1 spot x5
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 sportersify said
If you're democrat, you can pretty much be a hypocrite. The sh*t they say conservatives do... they openly do without consequence. That's so so many billionaires support democrats... while democrats out yelling eat the rich in their 5 star hotels and teslas.
I'm pretty sure more billionaires and multimillionaires donate to the Republican party because they give them tax breaks and let them take advantage of their employees.

 2 months ago '15        #18
PineappleOG  topics gone triple plat - Number 1 spot x3
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Dude paid the parties and the media. Left mainstream media like Washington post and NY times have gone easy on him. Don’t call it corporate media for nothing
+2   

 2 months ago '10        #19
Nautilus O  topics gone triple plat - Number 1 spot x4
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So does this mean Democrats aren’t scumbags just like Republicans?


 2 months ago '14        #20
Aries  topics gone triple plat - Number 1 spot x17
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 Tlatoani said
 WHATEVERMAN said
Wow, it's almost like behind closed doors all these people play for the same team. Weird.

+4   

 2 months ago '04        #21
ItAlY2BkLyN 
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and this is why he is still free and not locked up in prison

the legal system favors the rich
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 2 months ago '18        #22
ChrisPartlowFro  OP
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 HERMES said

Because you’re an idiot you don’t realize this doesn’t make the point you want it to.
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 2 months ago '22        #23
HERMES  topics gone triple plat - Number 1 spot x9
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 ChrisPartlowFro said
Because you’re an idiot you don’t realize this doesn’t make the point you want it to.
Wasn’t trying to make a point just sharing info
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 2 months ago '18        #24
ChrisPartlowFro  OP
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 ItAlY2BkLyN said
and this is why he is still free and not locked up in prison

the legal system favors the rich
No, they need to write the criminal indictment before they “lock him up” otherwise they can literally keep him for 48 hours and that’s it and they can’t just put some bullsh*t on paper because it’ll get tossed. Same is true for Civil where there’s Iqbal standards. The government moves intentionally when prosecuting, not quickly.

Y’all just say anything.
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 2 months ago '18        #25
ChrisPartlowFro  OP
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 HERMES said
Wasn’t trying to make a point just sharing info
Oh ok, it isn’t that there’s 5x as many Republicans on that list or maybe that they gave double what SBF and Soros did? Your boogeyman, Soros Maybe you were pointing out that Ken Griff and Schwartz who are scions of Wall Street are indicative of a larger Street sentiment that you soyboys always deny?


And barely won anything Sad!


Last edited by ChrisPartlowFro; 12-01-2022 at 12:29 PM..
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