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SBF donation reclaimed, FTX restructures team: Legal action to be taken if donations are not voluntarily returned

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SBF donation reclaimed, FTX restructures team: Legal action to be taken if donations are not voluntarily returned

FTX officials stated that they are considering legal actions to reclaim the donations made by SBF and FTX executives. If the donations are not returned voluntarily, they will pursue legal actions to reclaim the full amount with interest.

SBF's Massive Political Donations

Earlier reports revealed that SBF donated nearly $40 million to the Democratic Party, second only to George Soros. In an interview with Tiffany Fong, SBF also disclosed that his total political donations to both parties are similar, with the Republican donations remaining undisclosed out of fear of media backlash.

According to Cointelegraph, following the FTX incident, some politicians and related entities have returned donations:

  • Democratic Party Whip Dick Durbin has donated to charity.

  • House Democratic Leader Hakeem Jeffries has donated to charity.

  • The Democratic National Committee DNC, DSCC, DCCC returned $1 million.

  • Republican Senator John Hoeven donated $11,600 to the Salvation Army.

When asked, the White House did not respond regarding whether the Biden administration will return $5.2 million in campaign donations.