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They were donating more or the same amount to Republican PACs. > Some of the “Blockchain Eight,” as the Prospect termed them in March, have benefited from cryp

They were donating more or the same amount to Republican PACs. > Some of the “Blockchain Eight,” as the Prospect termed them in March, have benefited from crypto largesse. Five of the eight members received campaign donations from FTX employees, ranging from $2,900 to $11,600. Rep. Ted Budd (R-NC), one of the signatories, received half a million dollars in support from a Super PAC created by FTX co-CEO Ryan Salame. > More consequentially, Emmer was the head of the National Republican Congressional Committee, the campaign arm for House Republicans, this year. The NRCC’s associated super PAC, the Congressional Leadership Fund, received $2.75 million from FTX in the 2022 cycle; $2 million from Salame in late September, and $750,000 from the company’s political action committee. > That money helped House Republicans win the majority in 2022. Though FTX has been portrayed as a Democratic firm, thanks to the high profile of former co-CEO Sam Bankman-Fried, the company sprinkled around campaign donations fairly evenly, with a shade over 50 percent going directly to congressional Republicans and a shade under 50 percent to Democrats this cycle. > In an email, the SEC declined to comment. Six of the eight congressmembers have yet to respond https://prospect.org/power/congressmembers-tried-to-stop-secs-inquiry-into-ftx/ https://prospect.org/power/congressmembers-tried-to-stop-sec... >No word on if those Democrats or PACs will give back the dirty money Now you're just straight up lying on something that happened 10 days ago. https://popular.info/p/seven-politicians-are-returning-ftxs https://popular.info/p/seven-politicians-are-returning-ftxs

gamblor956 4y ago
There's been a concentrated effort by the Republican party to try to link the FTX collapse to the other party, even though the Republican party actually received more contributions from FTX during the general election. Almost all of SBF's donations were during the primary, and he made almost no donations during the general election. This means his money might have helped influence who showed up on the November ballots he didn't spend anything to help one party win over the other. In contrast, almost all of the FTX's GOP spending, and all of the FTX executive's donations to the GOP, were during the general election cycle, and specifically to the GOP House races. This means that the GOP owes it's current majority in the house directly to stolen money donated to it by FTX and FTX executives.
- TMWNN 4y ago
  >Almost all of SBF's donations were during the primary, and he made almost no donations during the general election. This means his money might have helped influence who showed up on the November ballots he didn't spend anything to help one party win over the other. That's not how it works. There is no rule that says that donations made during the primary season cannot be spent by the campaign after the primary.
  - gamblor956 4y ago
    Right, but in this case, the Democratic PACs listed were only active in the primaries; they sat out the general election.
    - TMWNN 4y ago
      You're evading the point. Money given to a candidate during primary season can and does get spent during the general election, too.
      - gamblor956 4y ago
        Yes, money from a primary can be used in the general. But in this case, it wasn't. The FTX money was used to select candidates but not to elect them. In contrast, almost all of the FTX-related donations to the GOP were given during the general cycle meaning that they were specifically given to help elect candidates. This means the GOP actually benefited more from FTX money than the Dems, and explains why McCarthy is focusing his efforts on committee assignments rather than on going after FTX.
        TMWNN 4y ago
        >Yes, money from a primary can be used in the general. But in this case, it wasn't. The FTX money was used to select candidates but not to elect them. Money doesn't work that way. Money is fungible. There is nothing about contribution x that distinguishes it from contribution y once both are received, or prevents x from being used for the same purpose as y. Further, >In contrast, almost all of the FTX-related donations to the GOP were given during the general cycle meaning that they were specifically given to help elect candidates. This means the GOP actually benefited more from FTX money than the Dems The other way around. Money given later in an election cycle means there is less time to use it.
rs999gti 4y ago
Check your sources on SBF, he put more into liberal than conservative PACs https://www.opensecrets.org/outside-spending/donor_detail/2022?id=U0000004705&type=I&super_only=N&name=Bankman-Fried%2C+Sam https://www.opensecrets.org/outside-spending/donor_detail/20...
- sgammon 4y ago
  that's true, but his lieutenants were major donors to republican candidates -- Ryan Salame was advertised as a budding "republican megadonor" at events

gamblor956 4y ago

There's been a concentrated effort by the Republican party to try to link the FTX collapse to the other party, even though the Republican party actually received more contributions from FTX during the general election. Almost all of SBF's donations were during the primary, and he made almost no donations during the general election. This means his money might have helped influence who showed up on the November ballots he didn't spend anything to help one party win over the other. In contrast, almost all of the FTX's GOP spending, and all of the FTX executive's donations to the GOP, were during the general election cycle, and specifically to the GOP House races. This means that the GOP owes it's current majority in the house directly to stolen money donated to it by FTX and FTX executives.

TMWNN 4y ago
>Almost all of SBF's donations were during the primary, and he made almost no donations during the general election. This means his money might have helped influence who showed up on the November ballots he didn't spend anything to help one party win over the other. That's not how it works. There is no rule that says that donations made during the primary season cannot be spent by the campaign after the primary.
- gamblor956 4y ago
  Right, but in this case, the Democratic PACs listed were only active in the primaries; they sat out the general election.
  - TMWNN 4y ago
    You're evading the point. Money given to a candidate during primary season can and does get spent during the general election, too.
    - gamblor956 4y ago
      Yes, money from a primary can be used in the general. But in this case, it wasn't. The FTX money was used to select candidates but not to elect them. In contrast, almost all of the FTX-related donations to the GOP were given during the general cycle meaning that they were specifically given to help elect candidates. This means the GOP actually benefited more from FTX money than the Dems, and explains why McCarthy is focusing his efforts on committee assignments rather than on going after FTX.
      - TMWNN 4y ago
        >Yes, money from a primary can be used in the general. But in this case, it wasn't. The FTX money was used to select candidates but not to elect them. Money doesn't work that way. Money is fungible. There is nothing about contribution x that distinguishes it from contribution y once both are received, or prevents x from being used for the same purpose as y. Further, >In contrast, almost all of the FTX-related donations to the GOP were given during the general cycle meaning that they were specifically given to help elect candidates. This means the GOP actually benefited more from FTX money than the Dems The other way around. Money given later in an election cycle means there is less time to use it.

rs999gti 4y ago

Check your sources on SBF, he put more into liberal than conservative PACs https://www.opensecrets.org/outside-spending/donor_detail/2022?id=U0000004705&type=I&super_only=N&name=Bankman-Fried%2C+Sam https://www.opensecrets.org/outside-spending/donor_detail/20...

sgammon 4y ago
that's true, but his lieutenants were major donors to republican candidates -- Ryan Salame was advertised as a budding "republican megadonor" at events