Home » Maxine Waters dodges question on FTX, Democrat ties and claims ‘both sides’ got money

Maxine Waters dodges question on FTX, Democrat ties and claims ‘both sides’ got money

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With some Democrats deciding to recommit funds From FTX Donations California Democrat Rep. Maxine Water told Fox Business that she “doesn’t want to get into that topic” as it campaigns for charities and other groups after the crypto exchange’s bankruptcy. .

waters avoided reporter Hilary Vaughan When Democrats who received campaign money from FTX were asked if they should give it back, they said, “Well, I don’t want to touch on such things. In fact, both Democrats and Republicans donate. I have received it, so thank you, you.”

However, the chair of the House Financial Services Committee has insisted lawmakers will hold a hearing to “investigate exactly what happened” with FTX.

Sam Bankman-Fried Founder of bankrupt cryptocurrency exchange FTXwas a major contributor to Democratic candidates during the midterm election cycle, and most of his donations were raised through the little-known Political Action Committee (PAC).

FTX Founder Sam Bankman-Fried Hits In Class Action, Also Names Brady, Bundchen, Shaq, Curry

Overall, Bankman-Fried in 2021 and 2022 Donated approximately $38 million Giving his cash primarily to Democratic candidates and left-wing groups to various candidates and PACs, according to Federal Election Commission filings (FEC). However, most of his political donations went to Protect Our Future PAC, a group founded in January.

California Democratic Rep. Maxine Waters told FOX Business’s Hilary Vaughan on Wednesday that her commission will “investigate exactly what happened” at FTX. (Getty Images)

Bankman-Fried wired the first $9 million into the PAC shortly after it was created in February, FEC records show. He then made his three additional donations worth $18 million between March and June, increasing his total donation to Protect Our Future PAC to $27 million. .

The Daily Beast reached out 25 or more members of parliament I reported that someone took the money and said they would donate the money to a charity. Other lawmakers said they spent it to endorse other Democratic candidates, and some didn’t reply at all.

Names of Democratic candidates who have received political contributions from FTX include Rep. Jesus Garcia of Illinois, Rep. Morgan McGarvey of Kentucky, Rep. Maxwell Frost of Florida, Rep. Sidney Kamlager of California and Jonathan Jackson of Illinois. , including Rep. Nikki Buzynski. Jared Moskowitz from Illinois, Florida, and Rob Menendez Jr. from New Jersey.

FTX Arena in Miami at night

The FTX Arena billboard, where the Miami Heat’s basketball team plays, will be lit up Saturday, November 12, 2022 in Miami. Miami Mayor Francis Suarez confirmed on Monday at Cavuto: Coast to Coast that the arena will be renamed. (AP Newsroom)

On Wednesday, Bankman-Fried file a class action lawsuit Investors filed claims that he and other celebrities including legendary NFL quarterback Tom Brady and NBA star Stephen Curry violated Florida law and caused more than $11 billion in damages to consumers. Did.

“Sam Bankman-Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Golden State Warriors, Shaquille O’Neal, Udonis Haslem, David Ortiz, William Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Lawrence. Gene David, Kevin O’Leary” seeks to “hold accountable for the billions of dollars of damages they caused to plaintiffs and the class and force the defendants to complete them.”

The lawsuit alleges that well-known celebrities “controlled, promoted, sponsored, and actively participated in FTX Trading and FTX US (collectively, the “FTX Entities”), offered and sold unregistered securities in the form of: All parties,” he said. Yield Account (YBA) for US Residents. ”

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the lawsuit File in Florida Because the defendant “does business in Florida and/or knowingly exploits the Florida consumer market through the promotion, marketing, and sales of FTX’s YBA in Florida and commits a tort within Florida.” Florida.”

Bankman-Fried acknowledged his mistake in a tweet last week. “I failed and should have done better.”

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Hilary Vaughan, Thomas Catenacci and Greg Norman of FOX Business contributed to this report.

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