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The Texas Tribune

National

James Barragán

Beto O’Rourke returned $1 million check from FTX’s Sam Bankman-Fried

FTX Sam Bankman-Fried Beto ORourke Gabriel BankmanFried Ronny Jackson Cassy Garcia Jasmine Crockett Ryan Salame United States Cryptocurrency

Former FTX CEO Sam Bankman-Fried attends a press conference at the FTX Arena in downtown Miami on Friday, June 4, 2021. — Former FTX CEO Sam Bankman-Fried attends a press conference at the FTX Arena in downtown Miami on June 4, 2021. (Credit: Matias J. Ocner/TNS/ABACA via REUTERS)

Beto O’Rourke returned a $1 million donation from embattled cryptocurrency leader Sam Bankman-Fried four days before Election Day, his campaign told The Texas Tribune this week.

Bankman-Fried founded FTX, a cryptocurrency exchange that was valued at $32 billion before collapsing abruptly in a matter of days earlier this month, setting off an industrywide panic. Many customers of the popular crypto platform may lose all or part of the money they invested. O’Rourke’s team said they returned the million-dollar donation a week before FTX filed for bankruptcy and Bankman-Fried stepped down as its chief executive, but that the decision was made prior to Nov. 4 and took time to execute.

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