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America’s Democratic politicians will be popping open bottles of champagne this weekend. Ahead of the New Year’s three-day weekend, the Justice Department quietly announced that it would drop campaign finance charges against cryptocurrency kingpin Sam Bankman Fried.
Pursuing this charge would implicate countless Democratic politicians and the Democratic Party itself. Now, the flow of hundreds of millions of dollars to Democratic causes and campaigns by one of the largest political donors on the side of George Soros may never be known.
Bankman Freed funneled millions of dollars almost exclusively into Democratic political coffers, including the Alaska Democratic Party, which obtained Bankman Freed’s funds through pass-throughs from the Democratic National Committee. The $9,750 that went to the Alaska Democratic Party helped the party take on Alaska Republican candidates and helped Democrat Mary Peltola emerge as Alaska’s only U.S. representative.
Alaska Sen. Lisa Murkowski was also a beneficiary of some of the funds, but when revelations about Bankman Fried’s criminal enterprise came to light, she donated the same amount of her campaign proceeds to a family-affiliated nonprofit. did.
In dropping the charges, the Biden Justice Department told U.S. District Judge Lewis A. Kaplan that the evidence in the other trial would overlap with the first, and that delaying the decision in the first case would hurt the FTX cryptocurrency. said that they would not be entitled to the benefit of a compensation order. Bankman Fried is scheduled to be sentenced on March 28th for defrauding crypto customers and investors out of more than $10 billion.
Bankman Fried donated $100 million during the 2022 midterm elections, including millions of dollars to underground finance groups using funds from FTX’s crypto customers.
Some of the groups had ties to Senate leaders, including Sens. Chuck Schumer and Mitch McConnell.
Bankman Fried was found guilty in early November on seven charges, including wire fraud, wire fraud conspiracy and conspiracy.
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