Beto O’Rourke, a Democrat from Texas, had rejected a campaign donation from former FTX CEO Sam Bankman-Fried.
On October 11, a month before FTX collapsed, Sam Bankman-Fried, former CEO of the defunct exchange, made a $1 million donation to O’Rourke‘s campaign. Earlier this month, the Texas Democrat lost his governorship run to GOP Gov. Greg Abbott.
O’Rourke’s team maintains it never requested the money and returned it a week before FTX declared bankruptcy.
According to The Texas Tribune, the former congressman and gubernatorial candidate returned a $1 million donation from Bankman-Fried.
He decided to reject the money before the FTX collapse began, telling the Texas publication that records would show the money was returned on November 4 before the troubled company began to unravel publicly.
“This contribution was unsolicited, and the campaign’s upcoming report will show that it was returned back on November 4, prior to the news stories that would later come out about the donor,” he said.
FTX filed for bankruptcy protection earlier this month, and the crypto exchange shocked the industry and sent crypto markets plunging. Bankman-Fried is said to have donated a considerable amount of his fortune to politicians in America. However, according to XRP lawyer John Deaton, funds with a period of 90 days before FTX filed for bankruptcy could be withdrawn.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Author
News
Beto O’Rourke Rejects SBF’s $1 Million Donation
Beto O’Rourke, a Democrat from Texas, had rejected a campaign donation from former FTX CEO Sam Bankman-Fried.
On October 11, a month before FTX collapsed, Sam Bankman-Fried, former CEO of the defunct exchange, made a $1 million donation to O’Rourke‘s campaign. Earlier this month, the Texas Democrat lost his governorship run to GOP Gov. Greg Abbott.
O’Rourke’s team maintains it never requested the money and returned it a week before FTX declared bankruptcy.
According to The Texas Tribune, the former congressman and gubernatorial candidate returned a $1 million donation from Bankman-Fried.
He decided to reject the money before the FTX collapse began, telling the Texas publication that records would show the money was returned on November 4 before the troubled company began to unravel publicly.
“This contribution was unsolicited, and the campaign’s upcoming report will show that it was returned back on November 4, prior to the news stories that would later come out about the donor,” he said.
FTX filed for bankruptcy protection earlier this month, and the crypto exchange shocked the industry and sent crypto markets plunging. Bankman-Fried is said to have donated a considerable amount of his fortune to politicians in America. However, according to XRP lawyer John Deaton, funds with a period of 90 days before FTX filed for bankruptcy could be withdrawn.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
Coincu News
Other Posts
Related Posts
