A top FTX executive has been identified as the supposed mystery contributor behind a $500,000 payment to the Democratic Party of Oregon in the United States.
According to local media, the Oregon Democrats first informed state election authorities that the $500,000 gift came from Prime Trust, a Nevada-based crypto-focused fintech.
However, the party director stated on Nov. 1 that the genuine payment source was FTX Engineering Director Nishad Singh, who has been the state Democratic Party’s fourth-highest donor since November 2020.
In a statement, state party executive director Brad Martin told OregonLive that the party reasonably assumed this gift was, in fact, from Prime Trust LLC based on documents obtained from their bank in October.
After local media questioned why a Las Vegas start-up made such a large gift on October 4, Martin allegedly received correspondence from Singh on October 28 disclosing that he had contributed personally to the Democratic Party of Oregon and Prime Trust LLC was not the contributor.
On November 1, a Prime Trust spokeswoman emphasized to OregonLive that Prime Trust is not providing money to the PAC. It is just Prime Trust carrying out the transfer on behalf of a customer.
According to sources, the party has subsequently revised its state campaign financial disclosure to reflect the genuine contributor.
Some may be surprised by the nature of the gift. Singh has already been linked to political donations through Prime Trust, and FTX has previously been interested in Oregon politics.
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