One-third of US lawmakers have received political donations from SBF, with the majority choosing to donate to charity.
According to a CoinDesk investigation, 196 newly elected members of the U.S. Congress have received political donations from FTX founder SBF or its members who have previously filed for bankruptcy (Chain News investigation: the maximum individual donation to candidates is $2,900 per election). This exceeds one-third of the total 535 members of Congress.
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Media outlet CoinDesk reported that among the newly elected U.S. Congress members, 196 have received political donations from bankrupt cryptocurrency exchange FTX's founder SBF or its members, according to a investigation. The individual contribution limit to candidates is $2,900 per election, exceeding one-third of the total 535 members.
After contacting these 196 members, CoinDesk found that 53 responded with intentions to donate to charity. However, some members suggested that the funds should be directed towards compensating victims of FTX.
The current FTX bankruptcy restructuring team has also urged individuals or entities who received donations from FTX to return the funds, including to charitable organizations. It remains unclear whether funds donated directly from personal accounts of FTX executives will be reclaimed.
CoinDesk noted that among the contacted members, only 5 have actually returned FTX funds, with 143 non-responsive, 34 donating, and 19 already returned or planning to return the funds to FTX victims.
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