Sam Bankman-Fried Donate To Politicians Can Be Withdrawn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.

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.

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