Before FTX Collapse, SBF Gave $1M To Republicans

November 26,  2022

FTX US donated $1 million to Senate Republican Leader Mitch McConnell on October 27.

After a couple of weeks, over 100 FTX-affiliated companies, including its US division, filed for bankruptcy.

As per reports, several members of Congress, including Democrat Richard Durbin and Republican Representative Kevin Hern said they would return donations from FTX or give donate them to charities.

FTX US donated $750,000 to Congressional Leadership Fund and $150,000 to American Patriots PAC, both of which support Republicans.

Whereas it gave $100,000 to the Alabama Conservatives Fund, which is backed by Republican Katie Britt.

According to OpenSecrets' SBF has donated around $40 million and the bulk of spending went to supporting Democrats whereas Ryan Salame, donated over $23 million to mostly Republican and conservative groups.

Crypto industry donated $84.1 million in the 2022 election cycle. But the bulk of that money, about 84%, came from SBF and other FTX executives.