Failed crypto executive donated to Minnesota Democrats

Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, donated to both Minnesota Rep. Angie Craig and Sen. Tina Smith this election cycle.

According to records at the Federal Election Commission (FEC), Bankman-Fried donated $2,900 to Craig on July 2. He donated $2,900 to Tina Smith on March 30.

On Oct. 23, 2020, he donated $780 to the MN DFL party.

His bigger donations included a total of $27 million to Protect Our Future PAC. According to Forbes, he gave a total of about $40 million so far this cycle. That dollar amount was large enough to rank Bankman-Fried as the second-largest donor to Democrats after George Soros, who donated $127 million.

Photo Credit: FTX Foundation

He is also the founder of the philanthropic FTX Foundation, incorporated in Delaware earlier this year.

His company, FTX, was incorporated in Antigua and Barbuda. It is headquartered in the Bahamas, where Bankman-Fried is said to be residing.

The FTX Group, and its 130-related companies, filed for bankruptcy in Delaware on Friday. The bankruptcy filing apparently wiped out the remainder of Bankman-Fried’s $16 billion fortune. At one point, he was believed to be worth as much as $26 billion.