The three major Democratic campaign groups said they would set aside more than $1 million they received from Sam Bankman-Fried, the disgraced founder of the cryptocurrency exchange FTX, and eventually seek to return the money to the exchange’s customers.
The announcements — from the Democratic National Committee and two groups that help elect House and Senate Democrats — came days after Bankman-Fried was arrested in the Bahamas and charged with violating securities and campaign finance laws. A federal prosecutor described the matter as “one of the biggest financial frauds in American history.”
And Chris Taylor, a spokesman for the Democratic Congressional Campaign Committee, said the organization would do the same with the $250,000 it received from Bankman-Fried. “We are waiting for further guidance from the government on what to do with the money based on their legal proceedings,” he said.
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