FTX founder Sam Bankman-Fried is also a prolific donor to Republicans: ‘I have a job’

FTX founder Sam Bankman-GorengWhile the top Democratic campaign contributors also gave significant amounts of cash to Republican candidates and organizations ahead of the midterm elections.

Bankman-Fried, whose cryptocurrency exchange platform FTX has collapsed in recent weeks, funneled an estimated $262,200 to Republicans throughout the 2021-2022 election cycle, according to Federal Election Commission records. His contribution to the Republicans paled in comparison almost $40 million he contributed to the Democratic campaign but still represented a significant number, compared to most Americans.

“I have a duty as a member of the industry to try and get us organized, to try and move the industry in a more responsible direction,” said Bankman-Fried in an interview with NBC News anchor Chuck Todd in September. “I think that requires engagement. I think it would be my responsibility not to get involved with Capitol Hill, with regulators.”

The crypto entrepreneur added that it was “probably true” he had been given access to federal lawmakers as a result of his political fundraising activities.

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founder of FTX

Sam Bankman-Fried testified during a Senate Agriculture Committee hearing in February. He gave tens of millions of dollars to Democrats and hundreds of thousands of dollars to Republicans during the midterm election cycle. (Sarah Silbiger/Bloomberg via Getty Images/Getty Images)

Among the largest donations to Republican candidates and organizations were a $105,000 check to the Alabama Conservatives Fund, a $50,000 donation to the conservative group Heartland Resurgence and $45,000 to the National Republican Congressional Committee (NRCC).

Alabama Conservative Fund was a major supporter of Sen.-elect Katie Britt of Alabama, and Heartland Resurgence boosted Sen. John Boozman, R-Ark., and ran advertisements opposing his GOP primary challenger, Jake Bequette. The NRCC is the main election fundraising arm of House Republicans.

“Britt’s campaign did not receive (and does not receive) the money … referred,” Britt’s spokesman Sean Ross told Fox News Digital.

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Ross noted that political campaigns are prohibited from coordinating with Super PACs.

“Katie will advocate for commonsense policies that provide robust consumer protections while fostering innovation, entrepreneurship, and investment here at home instead of driving the digital asset economy overseas to places like China,” said Ross.

In addition, Bankman-Fried wired maximum individual donations Boozman and incumbent Republican Sens. Susan Collins of Maine, Richard Burr of North Carolina, Bill Cassidy of Louisiana, John Hoeven of North Dakota and Lisa Murkowski of Alaska throughout the election cycle.

Sen.-elect Katie Britt, R-Ala., is the beneficiary of the Bankman-Fried donation.

Sen.-elect Katie Britt, R-Ala., is the beneficiary of Bankman-Fried’s donation to the Alabama Conservative Fund. During his campaign, Britt said that he supports American innovation “in the crypto space” and that the government should not put “its thumb on it. (Katie Britt for AL Senate)

Bankman-Fried gave to Collins and Cassidy even though his next election is scheduled for 2026. And Burr announced in 2016 that he would retire in 2023. The only person who gave the maximum donation to Burr during the current cycle was Rob Granieri, manager at Jane Street, former Bankman-Fried’s employer.

The Hoeven campaign told Fox News Digital that it has donated the funds it received from Bankman-Fried to the Salvation Army. A spokeswoman for Cassidy said the campaign will give Bankman-Fried’s contributions to charities in Louisiana.

Outside of the hundreds of thousands of dollars he spent on conservative PACs and Republican candidates, Bankman-Fried donated $2 million to GMI PAC, a pro-crypto political action committee. Instead, the PAC wired $5.85 million to the left-leaning Web3Forward PAC and $2.8 million to the right-leaning Crypto Innovation PAC.

It’s unclear whether Bankman-Fried’s donations to GMI PAC went to Crypto Innovation PAC, which exclusively supports Republicans, including Boozman.

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However, Crypto Innovation PAC gave about half of its expenditures to Michelle Bond of New York, who was defeated in her Republican primary despite endorsements from Sen. Ted Cruz, R-Texas, and the reported partner of Donald Trump Jr. Bond’s Ryan Salame, one. executive at FTX.

FTX did not respond to a request for comment. The NRCC and the campaigns for Boozman, Burr, Collins and Murkowski also did not respond to requests for comment.

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