Members of the House Financial Services Committee have received hundreds of thousands of dollars from Sam Bankman-Fried and others at his now-bankrupt cryptocurrency company FTX.
Nine members of the House Financial Services Committee have received money from FTX totaling just over $300,000, according to a review of Federal Election Commission records by the Washington Free Beacon.
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Bankman-Fried was a major contributor to Democratic candidates during the midterm election cycle, funneling most of his donations through a political action committee called Protect Our Future PAC.
Rep. Chuy Garcia, a Democrat from Illinois, is the only member of the committee who publicly pledged to return a $2,900 contribution from FTX leaders. The lawmaker was also the beneficiary of a nearly $200,000 ad blitz funded by Protect Our Future PAC.
Bankman-Fried funneled an estimated $262,200 to Republicans throughout the 2021-2022 election cycle, according to FEC records. His contributions to Republicans paled in comparison to the nearly $40 million he contributed to Democratic campaigns but still represented a significant sum, compared to most Americans.
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When asked whether Democrats who received campaign cash from FTX should give it back, committee chairwoman Rep. Maxine Waters said, “Well, I don’t want to get into that. As a matter of fact, both sides, Democrats and Republicans, have received donations. So thank you.”
Overall, in 2021 and 2022, Bankman-Fried donated nearly $38 million to various candidates and PACs, mainly giving his cash to Democratic candidates and left-wing groups, according to Federal Election Commission filings (FEC).
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The majority of his political givings, though, went to the Protect Our Future PAC, a group founded in January that is dedicated to boosting candidates committed to preventing future pandemics.
On Wednesday, Bankman-Fried was hit with a class action lawsuit filed by investors alleging that he and other high-profile celebrities – such as legendary NFL quarterback Tom Brady and NBA star Stephen Curry – violated Florida law and made consumers suffer more than $11 billion in damages.
Fox News’ Kristen Altus and Thomas Catenacci contributed to this report.