According to our colleagues at CoinDesk, more than one US Congressman has received funding from Sam Bankman-Fried or other FTX executives. Among them, some did not decide on what they intended to do with this money, while others chose to return it or to donate it in turn.
https://cryptoast.fr/37-pourcents-membres-congres-americain-recu-argent-dirigeants-ftx/
More than a third of congressional lawmakers funded by FTX executives
A survey by our colleagues at CoinDesk reports that more than one in three US Congressmen received donations from Sam Bankman-Fried (SBF) or other FTX executives. Indeed, within the 118th legislature which took office on January 3, composed of 100 senators and 435 representatives, 196 of these elected officials are concernedwhich thus represents 36.6% of them.
This money was collected as part of the financing of the respective campaigns of the politicians in question. It is important to note that the elections for this 118th congress took place on November 8, three days before the bankruptcy of FTX. This means that the people concerned campaigned before the events that shook our ecosystem, and were therefore unaware of the whole scam operated by SBF.
However, this again shows the extent of the lobbying carried out by the former CEO of FTXwho later himself admitted that all these donations were just a facade to build his image.
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Part of the funds returned
Now that the truth about FTX has been revealed, CoinDesk has interviewed each of the 196 elected officials affected by this money, so as to know what they intend to do with it. Among these legislators, 143 did not provide answers19 have planned to return the money or have already returned it, and 34 have decided to return the sums received.
Anthony Sabino, a bankruptcy expert and professor of law at St. John’s University in New York, believes that justice could force the beneficiaries to return this money whether it deemed that the donations in question should be reclassified as fraudulent transfers. This could then be valid, even if these funds have been redistributed behind:
“The law doesn’t care if you gave it to Mother Teresa. […] If you’ve run out of money, too bad. You are still responsible. »
For his part, the Republican Mitt Romney, for example, chose to transfer the $5,800 he received to the US Treasury.
This is not the first time that the question has arisen as to funding received by political figures in the FTX case. Last month, several Democrat-affiliated parties announced the return of some of the donations, while the White House had yet to comment on the matter.
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Source: CoinDesk
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I timidly discovered the world of blockchain at the end of 2018 during my quest for financial freedom. Initially invested moderately, it was only two years later that I took the gamble of betting everything on the movement that was taking shape then. I then dedicate 2021 to training myself better to acquire more knowledge and seriousness. As I often like to say: I still have a billion things to learn. And what I do know, I want to share with you.
Vincent Mayor
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