SBF Claims The Biden Administration Targeted Him for GOP Donations

Sam Bankman-Fried (SBF), the former FTX founder, has made a bold claim. In a Wednesday post on GETTR, the disgraced founder said that the Biden administration deliberately targeted him because of alleged donations to Republican causes. The allegation adds a new political angle to his ongoing legal battle following the collapse of his cryptocurrency exchange.

A Political Twist in the FTX Story

SBF shared that his prosecution was politically motivated. According to him, his arrest wasn’t only about FTX’s collapse but also about his political giving. Bankman-Fried claims that federal authorities intensified their actions as reports of his Republican donations began to surface. 

Furthermore, he says the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) acted the night before a key crypto bill was set for a vote. He alleges that officials delayed or blocked his testimony to prevent him from speaking publicly about his political contributions. According to him, the government targeted him for quietly donating to Republican groups while being publicly associated with Democratic causes.

“In 2020, I was center-left. By 2022—having seen Gensler/Biden’s DOJ on crypto—I was a centrist, and (privately) donated tens of millions to Republicans. Weeks later, Biden’s anti-crypto SEC/DOJ went after me. They had me arrested weeks before the crypto bill I was working on was set for a vote—and the night before I was set to testify before Congress,” he stated.

SBF Complex Political Record

Bankman-Fried was one of the largest political donors of the 2020 election cycle. He contributed about $5.2 million to committees supporting President Joe Biden. In later election cycles, he reportedly expanded his giving across party lines, directing money to both Democratic and Republican campaigns. Public records show he donated roughly $40 million in the 2022 midterm elections.

Although much of his public support went to Democratic candidates, Bankman-Fried said he also donated to Republican causes. He described those contributions as substantial “dark” donations that were not disclosed publicly. He claims he kept these donations quiet to avoid criticism from progressive allies. 

Prosecutors, however, counter that much of this political spending was funded with misappropriated customer funds. They allege that SBF used money from FTX and Alameda Research to finance political donations.

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