News

Sam Bankman-Fried Donate To Politicians Can Be Withdrawn

Sam Bankman-Fried made headlines in the first week of November, just days before the FTX collapse, for his donations to the US Midterm Election 2022. According to reports, SBF was the largest donor from the crypto industry and the third largest contributor overall.

XRP lawyer John Deaton stated in a recent statement that FTX could approach those who received funds from it 90 days before it filed for bankruptcy. This could mean that all political beneficiaries of SBF could face preference claims.

Deaton previously stated that it was simply a matter of time until SBF was imprisoned. He stated that it is simply a matter of time before SBF is imprisoned unless specific proof is discovered.

John Deaton

In addition, political beneficiaries may be addressed with “fraudulent transfer claims.” SBF’s political donations may be considered fraudulent transactions and must be repaid, he warned in a tweet.

The XRP lawyer made the remarks in response to reports that SBF and FTX gave $70 million to various politicians for elections not long before the bankruptcy filing.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Shiba Inu Price Surge Set To Make New Crypto Millionaires While This DOGE Rival Is Set For 1,200% Rally

The Shiba Inu price rise is set to make some investors millions, while a DOGE…

22 minutes ago

Bitfinex Hacker Ilya Lichtenstein Gets 5 Years in Prison

Ilya Lichtenstein was sentenced to five years in prison for laundering nearly 120,000 Bitcoin stolen…

27 minutes ago

SEC Chair Gary Gensler Hints at Exit Amid Trump’s Victory

SEC chair Gary Gensler hinted at a possible resignation after President-elect Donald Trump’s win.

58 minutes ago

Bitcoin Weakens Near $90K – A Pullback Seems Inevitable

Bitcoin shows signs of a bearish trend. Volume and momentum are decreasing, suggesting an impending…

1 hour ago

Qubetics at $0.0212: How It Compares to Polygon (MATIC) and Avalanche (AVAX) for November 2024

One project that has investors talking right now is Qubetics ($TICS), which is currently in…

3 hours ago

Ethereum Price to Soar Beyond $10k as ETH 3.0 Rumors Surface, Great News for PCHAIN and Shiba Inu

ETH 3.0 rumors spark excitement as the Ethereum price targets $10k, boosting confidence for altcoins…

3 hours ago

This website uses cookies.