A representative of the White House simply dodged a question about President Joe Biden’s plans to return Sam Bankman-Fried’s donations. After the collapse of FTX, it is clear that those donations were mainly paid by the users who knew nothing about it. In fact, the bottom line is that non-Americans indirectly supported Biden’s campaign.
Big support for Biden
Sam Bankman-Fried was a major supporter of Biden during his 2020 presidential campaign with donations reaching as high as $5.2 million. This made SBF the CEO with the largest donations to the campaign after Michael Bloomberg. Bloomberg donated $56 million to Biden’s campaign. In principle, therefore, it is still far above Bankman-Fried.
Nevertheless, SBF’s donations come from duped users, people who lost all their savings due to the actions of the fallen CEO. However, at a press conference on December 13, the White House representative declined to comment. Even President Joe Biden’s view of the whole situation was supposedly classified.
It is obvious
If we are to take anything from this, it is likely that the White House hopes that this will cover up the situation. In principle, of course, it doesn’t sit well with them that they may have to return $5.2 million in donations. It is striking that initially only a donation of $ 240,000 from SBF to the midterm elections was publicly known. Later, however, the fallen CEO of FTX admitted that he had also made so-called “dark money” donations.
However, it is possible that the bankruptcy procedure means that the politicians still have to return the amounts. Cointelegraph previously reported that $ 73 million in political donations may have to be returned. Some politicians have already decided to give away their donations from SBF to charities, in an attempt to distance themselves from the fraudster.