The US Government Negotiates Return of 1325 Million FTX Political Donation with Political Groups
The US government is currently negotiating with multiple Political Action Committees (PACs) to return $13.25 million in political donations under the names of FTX founder SBF and former FTX engineering director Nishad Singh. These political donations were primarily directed towards political groups affiliated with the Democratic Party (the Biden administration). Recently, a US court approved the government’s request to extend the deadline for responding to petitions from third-party affiliated groups to January 15, 2025, in order to give the government and related groups more time to negotiate and reach a consensus without resorting to litigation.
Court approves negotiation deadline extension to 2025
According to court documents, New York District Judge Lewis Kaplan, overseeing the FTX case, recently approved the US government’s request to extend the deadline for responding to third-party subsidiary petitions from the original November 1, 2024, to January 15, 2025. The purpose is to give the government and related political groups more time to negotiate and hopefully reach a consensus without resorting to litigation.
Actively negotiating with multiple political groups, political donations amount to $13.25 million
Currently, the US government is negotiating with multiple Political Action Committees, such as the Senate Majority PAC, Future Forward PAC, Future Forward USA Action, Emily’s List/Women Vote, and GMI PAC, all of which have previously received political donations from SBF and Singh. Data shows that the total political donations made by the two amount to $13.25 million, with some funds even coming from blank checks signed by Singh.
According to the data, Future Forward PAC received $6 million under SBF and Singh’s names, GMI PAC received $2 million, the Senate Majority PAC received $3 million, $2 million from Singh and $1 million from SBF. Women Vote received $2.25 million under Singh’s name.
(FTX founder Sam is a staunch Biden supporter! Donated large sums of political donations for the election, totaling over $5 million)
Former FTX executive Singh assists in investigation, influencing US government to expedite action
Recently, former FTX engineering director Singh, by cooperating with US prosecutors in the investigation and accusing SBF, successfully avoided imprisonment and was only sentenced to three years of probation. Singh has admitted that these donations were made at the request of SBF, including signing blank checks and other actions. This ruling has prompted the US government to accelerate its request for related political groups to return suspected illicit gains from FTX.
(FTX former engineering director Nishad Singh sentenced to three years probation, once confronted SBF over funding gap)
