Disgraced Crypto Ex-CEO Was Plotting to Spend Nearly $1 Billion Boosting Dems, Reshaping American Politics: Report

Sam Bankman-Fried, former CEO of now-bankrupt crypto exchange FTX, had planned to become the biggest donor to the Democratic Party in 2024, a cycle in which he might have spent as much as $1 billion, according to investigative journalist Theodore Schleifer, writing for Puck News Wednesday.

The erstwhile billionaire filed in April, 2022, to incorporate an umbrella organization known as The Center for the Future in Delaware, according to Schleifer, citing corporate database Open Corporates. The organization intended to tackle a variety of hot-button issues ranging from pandemic preparedness to democracy reform, the foundation of which was the first salvo in a 50-year influence campaign designed to fundamentally transform American politics, Schleifer alleges, citing sources who spoke with Bankman-Fried’s aides.

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Congressman John Rose Reacts to House Hearing on the Collapse of FTX

Tennessee Congressman John Rose (R-TN-06), who serves on the House Financial Services Committee, applauded the committee’s decision to have a bipartisan hearing on FTX’s collapse.

“The overnight collapse of FTX will have a lasting impact on consumers and the digital asset industry as a whole,” Congressman Rose said in a statement. “The American people deserve answers, and bad actors must be held accountable to the laws and regulations meant to safeguard consumers. I appreciate Ranking Member McHenry and Chairwoman Waters for swiftly scheduling a hearing on this pressing matter, and I look forward to hearing Sam Bankman-Fried’s testimony soon.”

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