All articles tagged with #cryptocurrencypolitics
The Winklevoss twins have each donated $1 million in bitcoin to Donald Trump's campaign, citing his pro-crypto stance and criticizing Joe Biden's regulatory approach to the cryptocurrency industry. They argue that Biden's administration has stifled the crypto sector and are rallying support for Trump as a champion of cryptocurrency.
A new mysterious nonprofit group called the Cedar Innovation Foundation, backed by the crypto industry, has set up a mailing address near Washington, D.C., and is ramping up lobbying efforts ahead of the 2024 elections. The group, heavily funded by crypto industry players, has launched advertisements against lawmakers critical of crypto and quietly hired strategists to fight on its behalf. With the crypto industry aiming to influence Congress and spending millions on lobbying, the foundation's efforts have drawn criticism from opponents who view it as a "dark money" campaign.
Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, allegedly used over $100 million in stolen customer funds to make political campaign contributions before the 2022 U.S. midterm elections, according to federal prosecutors. The amended indictment accuses Bankman-Fried of directing FTX executives to evade contribution limits and conceal the source of the money. The funds were allegedly used to lobby Congress and regulatory agencies for favorable legislation and regulations. Bankman-Fried faces charges of conspiracy and fraud related to FTX's collapse, but the indictment no longer includes a separate count for violating campaign finance laws. He has pleaded not guilty to stealing customer funds.
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.