Leading up to Sam Bankman-Fried’s spectacular implosion – in which his firm FTX evaporated billions in wealth after the now-bankrupt cryptocurrency exchange allegedly commingled client assets with his trading firm into a liquidity crunch – he became the sixth-largest donor in this year’s midterm election cycle, giving some $40 million to mostly Democratic candidates and causes.

According to , Bankman-Fried was second only to George Soros among billionaire donors to Democratic groups during the 2022 midterm election cycle.

FTX allegedly loaned Alameda Research – a trading firm founded by Bankman-Fried – roughly $10 billion in client assets, which has landed him under federal investigation by the SEC, CTFC, and the Justice Department – the latter of which already had been working on a months-long investigation, according to the . The CTFC, meanwhile, is tasked with regulating certain elements of the crypto markets – including digital assets that are as commodities, and crypto exchanges and clearinghouses.

In late September, Bankman-Fried admitted that his political donations were mostly to Democrats, and Republican recipients were ‘targeted’.

Spot the rare journalism by host Chuck Todd;

https://www.youtube.com/embed/oriUt-AVci0?start=279

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But it goes much deeper than that

Bankman-Fried ‘heavily courted’ the CFTC, “and funded several key lawmakers charged with overseeing the agency, pouring cash into their campaign coffers,” as the notes.

Others have connected dots and concluded that FTX may have been a money laundering operation.

https://t.co/rFHsbYk41U

— Gordo Stevens (@GordoCDA) November 12, 2022

What’s more, a PAC founded by FTX executive Ryan Salme, American Dream Federal Action, spent over $1 million on Boozman during the 2022 election cycle, as well as more than $1 million on House Agriculture Committee member and Republican Minnesota Rep. Brad Finstad.

Bankman-Fried also donated $27 million to the Protect Our Future PAC, which primarily works to elect Democrats. It spent over $1 million towards Rep. Shontel Brown (D-OH), a member of the House Agriculture Committee.

Another donation linked to members of the House Ag committee includes $200,000 to the Democratic Congressional Campaign Committee (DCCC), headed by Chair Sean Patrick Maloney, and nearly $6,000 to Maloney himsself. He also gave $20,000 to the campaign and victory fund of Sen. Kirsten Gillibrand (D-NY), whose father worked for the NXIVM sex cult in the early 2000s, where he made $25,000 per month.

As a thought experiment, imagine what Bankman-Fried’s financial ‘goodwill’ would have bought the firm if FTX hadn’t divided by zero and imploded.