BTC

$57182.787

-0.33%

ETH

$3052.146

1.38%

BNB

$515.388

1.55%

XRP

$0.44

1.42%

News

SBF Family Linked To FTX $100 Million Scandal, WSJ Reveals

July 5, 2024 - Around 2 mins mins to read

Key Points:

  • Emails reveal the Bankman-Fried family involved in over $100 million in political donations from FTX accounts.
  • Joe Bankman, Barbara Fried, and Gabriel Bankman-Fried directed these funds to political causes.
The Wall Street Journal revealed a new FTX $100 million scandal, showing Sam Bankman-Fried’s family involved in illegal political donations, leading to scrutiny and lawsuits over misuse of customer funds.
SBF Family Linked To FTX $100 Million Scandal, WSJ Reveals
SBF Family Linked To FTX $100 Million Scandal, WSJ Reveals

It has just been revealed that emails from The Wall Street Journal show Sam Bankman-Fried’s family involved in over $100 million in political donations.

FTX $100 Million Scandal Involves Bankman-Fried Family

The money is said to have been siphoned from FTX customer accounts, and the trial was to sway the 2022 election, leading to multiple lawsuits.

The emails detailed Joe Bankman’s involvement in advising on financial strategies for political donations. Additionally, SBF’s mother, Barbara Fried, co-founder of the super PAC Mind the Gap, and Gabriel Bankman-Fried were implicated in directing funds to various political entities and causes.

Barbara focused on progressive groups and initiatives, while Gabriel funnelled donations toward pandemic prevention efforts.

Readmore: Does Presidential Debate Impact On Crypto Price Today?

Legal Consequences and Public Scrutiny

The Wall Street Journal reported that Joe Bankman was involved in the illegal funding scheme. M. David Mason, former head of the Federal Election Commission, also mentioned that there might be legal consequences for Joe Bankman’s use of the campaign finance laws.

Mason cited these emails as a “strong indication” that Joe Bankman knew about the illegal straw donor scheme. Despite the evidence, a spokesperson for Joe Bankman stated that he had “no knowledge of any alleged campaign finance violations.”

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.

#Sam Bankman-Fried

Barbara Fried

FTX CEO Sam Bankman-Fried

FTX customer accounts

Joe Bankman

Avatar of Thana

Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

SBF Family Linked To FTX $100 Million Scandal, WSJ Reveals

Key Points:

  • Emails reveal the Bankman-Fried family involved in over $100 million in political donations from FTX accounts.
  • Joe Bankman, Barbara Fried, and Gabriel Bankman-Fried directed these funds to political causes.
The Wall Street Journal revealed a new FTX $100 million scandal, showing Sam Bankman-Fried’s family involved in illegal political donations, leading to scrutiny and lawsuits over misuse of customer funds.
SBF Family Linked To FTX $100 Million Scandal, WSJ Reveals
SBF Family Linked To FTX $100 Million Scandal, WSJ Reveals

It has just been revealed that emails from The Wall Street Journal show Sam Bankman-Fried’s family involved in over $100 million in political donations.

FTX $100 Million Scandal Involves Bankman-Fried Family

The money is said to have been siphoned from FTX customer accounts, and the trial was to sway the 2022 election, leading to multiple lawsuits.

The emails detailed Joe Bankman’s involvement in advising on financial strategies for political donations. Additionally, SBF’s mother, Barbara Fried, co-founder of the super PAC Mind the Gap, and Gabriel Bankman-Fried were implicated in directing funds to various political entities and causes.

Barbara focused on progressive groups and initiatives, while Gabriel funnelled donations toward pandemic prevention efforts.

Readmore: Does Presidential Debate Impact On Crypto Price Today?

Legal Consequences and Public Scrutiny

The Wall Street Journal reported that Joe Bankman was involved in the illegal funding scheme. M. David Mason, former head of the Federal Election Commission, also mentioned that there might be legal consequences for Joe Bankman’s use of the campaign finance laws.

Mason cited these emails as a “strong indication” that Joe Bankman knew about the illegal straw donor scheme. Despite the evidence, a spokesperson for Joe Bankman stated that he had “no knowledge of any alleged campaign finance violations.”

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.
Visited 57 times, 1 visit(s) today