Crypto News

FTX exchange asked politicians to return the company’s financial assistance

Popular cryptocurrency exchange FTX, which filed for bankruptcy in November, is seeking the return of funds sent as “contributions or other payments” by the company’s former CEO Sam Bankman-Fried, or other former senior FTX executives. .

According to Valx and quoted by Bein Crypto, according to the statement of the FTX exchange on Sunday, the new CEO of the company, John Ray, announced that FTX will seek to return the funds that were not returned voluntarily and through legal means. . The company also warned the recipients of these donations that if they do not return these amounts, they will pursue them legally and demand their return with interest. Also, recipients who gave these donations to third-party organizations such as charities must also return it.

This request was made following the events that led to the bankruptcy of the FTX exchange. The former CEO of this exchange was later arrested and charged with only eight financial frauds. He denied the charges against him and is scheduled to be tried in October 2023.

Benkman-Fried, who was one of the main contributors to the campaign of the Democratic party in the 2020 election, has been accused of misappropriating billions of dollars of client funds. He has used his client assets to support his other business venture, Alameda Research, buy personal real estate and contribute to political campaigns. Sam Benkman-Fried has claimed to have helped Republican candidates in addition to Democratic candidates. Although he stated that the source of these donations was not disclosed.

According to public information contained in a spreadsheet maintained by OpenSecrets, Benkman-Fried, Ryan Salame – FTX’s chief exchange officer – and Nishad Singh, FTX’s chief engineering officer, have a combined total of more than 84 They have donated millions of dollars to organizations and political candidates.

Last month, Federal Election Commission documents revealed that several high-level employees of the FTX exchange made large contributions to the campaign of New York Congressman George Santos. Santos is now under the sharp blade of public opinion because of false statements about his past.

Some politicians have returned donations received from Sam Benkman-Fried; For example, Beto O’Rourke returned $1 million in aid just before FTX filed for bankruptcy. Others, such as Senator Dick Durbin and Kirsten Gillibrand, announced that they would donate an amount equal to the amount received from FTX.

The amount of donations received by various candidates and political groups from FTX and its affiliates is not yet known and may not be known until the deadline set by the new FTX management.

The company’s statement is likely to put pressure on political figures to return FTX-related funds and could shed light on the extent to which the political world is affected by the collapse of the FTX cryptocurrency exchange.

The post FTX Exchange asked politicians to return the company’s financial aid appeared first on Wallex Blog. appeared.


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