On December 3, Elon Musk tweeted that former FTX CEO Sam Bankman-Fried (SBF) had publicly donated $40 million to the Democratic Party and may have actually donated more than $1 billion to support the Democratic Party’s election.
As previously reported by PANews, the SBF also announced that it intends to invest between $100 million and $1 billion in political donations for candidates competing with former President Trump in the next US presidential election in 2024.
As mentioned in a previous Coincu News article, US Congressman Tom Emmer reportedly received a report that SEC Chairman Gary Gensler is helping SBF and FTX to exploit legal loopholes to achieve regulatory monopoly status.
During the FTX bankruptcy investigation, a lot of evidence also discovered that SBF had deep ties to US regulators. However, the FTX crash causes damage and the consequences can be enormous. Therefore, the relationship is also difficult to save the situation. Many politicians who have received support from SBF and FTX have also turned their backs and canceled this relationship.
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