BlocksInform
Danny is the chief editor for Coindesk for special projects. He is the owner of BTC, ETH and SOL.
Sam Bankman-Fried showered politicians with tens of millions of dollars in campaign contributions before his FTX empire imploded last November. The failed cryptonet is trying to recover this money.
On Sunday, The FTX Group has indicated that it sends "confidential letters" to Bankman-Fried's politicians and other political beneficiaries, its assistants and corporations, asking them to pay back the money before the month is over. In a press release the debtors said they “reserve the right” to try and force repayments – plus interest – through court action.
The proclamation makes the struggle worse as much as $93 million (estimated by obligors) in political donations ftx made to a range of D.C. legislators and causes across the political spectrum. One in three members of the current U.S. congress received contributions from Bankman-Fried’s orbit, according to CoinDesk reporting. This was a monumental campaign of influence beyond the limits of the party.
With high-ranking FTX officials now facing a series of criminal charges over their multi-billion-dollar fraud, a large number of their recipients have attempted to eliminate the scandal by matching donations to charities. But debtors now responsible for recovering the losses of creditors warned such an action "does not prevent FTX debtors from requesting recovery."
