$75M worth of FTX’s political donations at risk of being recalled due to bankruptcy: report
To distance themselves from the failed exchange, some politicians have already resorted to donating funds they received from FTX to charity. Following the collapse of FTX and its bankruptcy filing on Nov. 11, $73 million worth of its political donations are currently at risk of being recalled to repay the failed exchange’s creditors, according to a report by Bloomberg. Speculators online allege that the former FTX CEO and his executives sought to influence industry regulations with their generous multi-million dollar donations to politicians and super-PACs. Sam Bankman-Fried, along with his executives Ryan Salame and Nishad Singh, are believed to have been among high paying donors to both the Republican and Democratic U.S. political parties. Many politicians who were at the receiving end of FTX’s generosity now face difficulty on what to do next, as they may be forced to return the money to the bankruptcy trustee. In order to distance themselves from the disgraced and fraudu...