FTX founder Sam Bankman-Fried donated thousands to House committee members who will investigate him
Nine members of House Financial Services Committee received donations from Bankman-Fried, other FTX employees
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Members of the House Financial Services Committee have received hundreds of thousands of dollars from Sam Bankman-Fried and others at his now-bankrupt cryptocurrency company FTX.
Nine members of the House Financial Services Committee have received money from FTX totaling just over $300,000, according to a review of Federal Election Commission records by the Washington Free Beacon.
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during a Senate Agriculture, Nutrition and Forestry Committee hearing in Washington, D.C., Feb. 9, 2022. (Sarah Silbiger/Bloomberg via Getty Images / Getty Images)
Bankman-Fried was a major contributor to Democratic candidates during the midterm election cycle, funneling most of his donations through a political action committee called Protect Our Future PAC.
Rep. Chuy Garcia, a Democrat from Illinois, is the only member of the committee who publicly pledged to return a $2,900 contribution from FTX leaders. The lawmaker was also the beneficiary of a nearly $200,000 ad blitz funded by Protect Our Future PAC.
Bankman-Fried funneled an estimated $262,200 to Republicans throughout the 2021-2022 election cycle, according to FEC records. His contributions to Republicans paled in comparison to the nearly $40 million he contributed to Democratic campaigns but still represented a significant sum, compared to most Americans.
HERE ARE THE DEMS WHO BENEFITED FROM THE LEFT-WING PAC THAT FTX FUNNELED $27M THROUGH
Rep. Maxine Waters, a Democrat from California and chairwoman of the House Financial Services Committee, during a hearing in Washington, D.C., Sept. 21, 2022. (Al Drago/Bloomberg via Getty Images / Getty Images)
When asked whether Democrats who received campaign cash from FTX should give it back, committee chairwoman Rep. Maxine Waters said, "Well, I don't want to get into that. As a matter of fact, both sides, Democrats and Republicans, have received donations. So thank you."
Overall, in 2021 and 2022, Bankman-Fried donated nearly $38 million to various candidates and PACs, mainly giving his cash to Democratic candidates and left-wing groups, according to Federal Election Commission filings (FEC).
FILE - Signage for the FTX Arena, where the Miami Heat basketball team plays, is illuminated on Saturday, Nov. 12, 2022, in Miami. (AP Photo/Marta Lavandier, File / AP Newsroom)
The majority of his political givings, though, went to the Protect Our Future PAC, a group founded in January that is dedicated to boosting candidates committed to preventing future pandemics.
On Wednesday, Bankman-Fried was hit with a class action lawsuit filed by investors alleging that he and other high-profile celebrities – such as legendary NFL quarterback Tom Brady and NBA star Stephen Curry – violated Florida law and made consumers suffer more than $11 billion in damages.
Fox News' Kristen Altus and Thomas Catenacci contributed to this report.