Sam Bankman-Fried, the former CEO of the FTX cryptocurrency exchange, faces one count of conspiracy to violate campaign finance law from the indictment this week that said he exceeded limits on donations and disguised the source of some of the spending.
The indictment unveiled in the Southern District of New York didn’t provide further details, but Bankman-Fried and other employees of FTX, FTX US and Alameda Research, an affiliated hedge fund, contributed $71.5 million to campaigns in the 2022 cycle, the vast majority of it from three executives, according to Federal Election Commission filings.
Individuals associated with the companies spent in support of or donated at least $44.2 million to Democratic candidates and affiliated PACs and at least $23.7 million to Republican candidates and committees in the most recent cycle. The donations supported at least 54 Democrats and at least 109 Republicans, including 14 senators who were not on the ballot this year.
