Last Updated on November 30, 2022
Disgraced FTX founder Sam Bankman-Fried, commonly referred to as “SBF,” was one of the elections largest donors through a number of channels. In addition to a $38 million donation to the Protect Our Future PAC, $27 million of which went to Democrats in close house races, as well as donations to PACs linked with Kevin McCarthy (R-CA) and Mitch McConnell (R-KY), Bankman Fried made a number of maximum private donations to a wide variety of politicians. Though SBF donated to politicians on both sides of the aisle, the Republicans he spent the most on were establishment candidates who voted to impeach President Trump.
SBF funneled roughly $262,200 to establishment GOP-linked PACS throughout the 2021-2022 election cycle, according to Federal Election Commission records. Bankman-Fried also claims to have funneled about the same amount he gave to Democrats, $38 million, to Republicans through various dark money initiatives.
Bankman-Fried’s dark money donations, as well as how he chose to spend the $262,000 in individual donations, paints a picture of his political preferences.
In Alabama, SBF donated $105,000 to the Alabama Conservatives Fund, a PAC that was a main supporter of McConnell ally Katie Britt in Alabama. Now Senator-elect Britt defeated Mo Brooks in the Alabama Senate primary, who vowed not to support McConnell for GOP Senate leader if elected.
FTX also donated $50,000 donation to conservative group Heartland Resurgence and $45,000 to the National Republican Congressional Committee (NRCC). Heartland Resurgence supported Senator John Boozman (R-AR), which ran attack ads against his GOP primary opponent Jake Bequette, who was also on record saying he would oppose McConnell.
In addition, Sam Bankman-Fried wired individual donations to Senators Lisa Murkowski (R-AK), Mitt Romney (R-UT), Bill Cassidy (R-LA) and the retiring Richard Burr (R-NC), all of whom voted to convict former President Trump after he was impeached by the Pelosi-led House after he had already left office.
Bankman-Fried has claimed that his donations were aimed at influencing lawmakers to better regulate cryptocurrency.
“I have a duty as a member of the industry to try and get us regulated, to try and move the industry in a more responsible direction,” Bankman-Fried said in an interview with NBC News anchor Chuck Todd in September. “I think that requires engagement. I think it’d be irresponsible for me not to engage with Capitol Hill, with regulators.”