The U.S. government and political groups negotiate the return of $13.25 million in FTX political donations.

The U.S. government is currently in negotiations with several political action committees (PACs) to demand the return of $13.25 million in political donations under the names of FTX founder SBF and former FTX engineering head Nishad Singh. These political donations were primarily directed towards political groups associated with the Democratic Party and the Biden administration. Recently, the U.S. court approved the government's request to extend the deadline for responding to petitions from third-party related groups to January 15, 2025, in order to provide more time for negotiations between the government and the relevant groups, aiming to reach a consensus without resorting to litigation.

Court Agrees to Extend Negotiation Deadline to 2025

According to court documents, New York District Judge Lewis Kaplan, who oversees the FTX case, recently approved the U.S. government's request to extend the deadline to respond to third-party petitions from the original November 1, 2024, to January 15, 2025. The purpose is to provide the government and relevant political groups more time to negotiate in hopes of reaching a consensus and resolving the matter without litigation.

Actively Negotiating with Multiple Political Groups, Political Donations Totaled $13.25 Million

Currently, the U.S. government is negotiating with several political action committees such as the Senate Majority PAC, Future Forward PAC, Future Forward USA Action, Emily’s List/Women Vote, and GMI PAC, all of which have received political donations from SBF and Singh. Data shows that the combined political donations from the two amount to $13.25 million, some of which were even from blank checks signed by Singh.

According to the data, Future Forward PAC received $6 million under SBF and Singh's names, GMI PAC received $2 million, Senate Majority PAC received $3 million, $2 million from Singh and $1 million from SBF. Women Vote received $2.25 million from Singh.

FTX Founder Sam is a strong supporter of Biden! Donated a large sum of political contributions for the election, totaling over $5 million

Former FTX Executive Singh's Cooperation in Investigation Accelerates U.S. Government Action

Recently, former FTX engineering manager Singh, for cooperating with the U.S. prosecutors in the investigation and accusing SBF, successfully avoided imprisonment and was only sentenced to three years of probation. Singh has admitted that these donations were made at the request of SBF, including the act of signing blank checks. This judgment has prompted the U.S. government to accelerate its request for relevant political groups to return suspected illegal gains from FTX.

Former FTX engineering manager Nishad Singh sentenced to three years of probation, once confronted SBF's funding gap directly