mobile-addesktop-ad

ADVERTISEMENT

FTX gave $1 million to McConnell-backed super PAC

"FTX gave to the establishment on both sides and it is telling who is willing to call this out and who isn't."

ADVERTISEMENT
Image
Joshua Young North Carolina
ADVERTISEMENT

The collapsing cryptocurrency company FTX when it was run by disgraced former CEO Sam Bankman-Fried contributed $1 million to the super-PAC aligned with Senate Republican Leader Mitch McConnell, the Senate Leadership Fund, in the 2022 midterm election cycle.

Bloomberg reported Friday that the Senate Leadership Fund "received the $1 million donation on Oct. 27, according to its most recent filing with the Federal Election Commission. Only a couple of weeks later, more than a 100 FTX-related companies, including the US arm, filed for bankruptcy, and Bankman-Fried resigned as head of the corporate group."

West Realm Shires Services Inc., which operates under its commercial name, FTX US, was the official entity reported to the FEC that gave the contribution to the Senate Leadership Fund, the leading spender in the 2022 midterm with $239 million spent on McConnell-backed Republican candidates.

Jack Posobiec wrote on Twitter, "FTX gave to the establishment on both sides and it is telling who is willing to call this out and who isn't."

Bankman-Fried was the second biggest Democrat donor right after George Soros in donations for the 2021-22 cycle. The former billionaire made donations to the Dems that totaled $39.8 million, putting him behind Soros and his $128 million. Bankman-Fried became a significant donor to Biden starting in 2020 with $10 million in support. 

The crypto industry gave $84.1 million through mid-October towards the 2022 midterms, but Bloomberg reports Bankman-Fried was the major donor of that bloc.

$2 billion of FTX customer funds inexplicably vanished last week. At the same time, Bankman-Fried had a personal net worth of around $16 billion but that reportedly has diminished by 94 percent and he resigned from his position on November 11.

FTX was allegedly transferring customer's monies to Alameda Research to cover a gap in their funding.

In an unhinged interview for Vox, Bankman-Fried blamed his personal and FTX's downfall on CEO of Alameda Research, Caroline Ellison, who is his ex-girlfriend, and he said he "thought Alameda had enough collateral to reasonable cover it" in reference to his funneling large sums of money from FTX to Alameda.

ADVERTISEMENT
ADVERTISEMENT

Join and support independent free thinkers!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Support The Post Millennial

Remind me next month

To find out what personal data we collect and how we use it, please visit our Privacy Policy

ADVERTISEMENT
ADVERTISEMENT
By signing up you agree to our Terms of Use and Privacy Policy
ADVERTISEMENT
© 2024 The Post Millennial, Privacy Policy | Do Not Sell My Personal Information