"Sam Bankman-Fried Accused of Misusing Stolen Funds for Political Contributions"

Sam Bankman-Fried, founder of FTX cryptocurrency exchange, has been charged with using stolen customer funds to make over $100 million in campaign contributions ahead of the 2022 US midterm elections. The indictment alleges that Bankman-Fried directed money from FTX's sister trading firm to be wired to FTX executives' personal bank accounts, who then made donations in their own names to evade restrictions on political contributions. Bankman-Fried used his political influence to lobby for legislation and regulation favorable to FTX, while falsely portraying the exchange as legitimate. He made over $40 million in donations in 2022, mostly to Democrats. Bankman-Fried's bail was recently revoked after allegedly sharing personal writings of his former partner, and he is now being held in Brooklyn's Metropolitan detention center.