The D.C. Politicians Who Profited Most From FTX Founder’s Fraud

( Disgraced former FTX CEO Sam Bankman-Fried has donated over $46 million to political candidates and groups in 2022, the vast majority of which has gone to Democrats, according to

While Bankman-Fried has donated to many Democrat politicians, including Illinois Senator Dick Durbin and Arizona Congressman Ruben Gallego, his biggest donation during the last election cycle was to Project Our Future PAC, a Democrat-aligned group. Bankman-Fried donated $27 million to the PAC during the 2022 midterms.

Some Republican politicians who benefited from Bankman-Fried’s ill-gotten gains include Maine Senator Susan Collins and Senator Lisa Murkowski of Alaska.

The largest single donation Bankman-Fried gave was to the Republican-aligned group the Alabama Conservatives Fund. But compared to his generosity to Project Our Future PAC, Bankman-Fried’s donation to the Alabama Conservative Fund was pocket change, amounting to only $105,000.

During the 2020 presidential election, Bankman-Fried gave over $5 million to Joe Biden’s campaign and Democrat groups supporting Biden.

After the collapse of FTX, some of the lawmakers who benefited from Bankman-Fried’s largesse announced that they would either return the donations or give them to charity.

Last Monday, the Royal Bahamas Police Force arrested Bankman-Fried at the request of the US Attorney’s Office for the South District of New York, thereby sparing the Democrats the embarrassment of having one of their biggest donors testifying before Congress.

According to the indictment, US prosecutors have accused Bankman-Fried of engaging in a scheme to defraud FTX customers by misappropriating their deposits to pay for expenses and debts and to make investments on behalf of his hedge fund Alameda Research LLC.

Bankman-Fried also defrauded Alameda lenders by providing false and misleading information about the hedge fund’s condition while attempting to disguise the money he earned from committing wire fraud, prosecutors alleged.

Prosecutors also allege that Bankman-Fried then used the stolen money to make “tens of millions of dollars in campaign contributions.”