Why Joe Biden’s Administration is Silent on 5.2 Million donations from SBF?

Jassimran Singh

15 December 2022

Biden's administration has declined to comment on whether he is planning to return the political donations received from Sam Bankman-Fried.

Bankman-Fried whom the US Justice Department has charged with swindling investors out of at least $1.8 billion was one of Biden’s main contributors in 2020.

SBF was also one of the Democratic Party’s biggest donors and met with Biden’s White House advisers before FTX collapsed.

SBF was the second-largest donor to congressional Democrats ahead of last month’s midterm election. Sam Bankman-Fried donated $39.2 million to the Democratic Party.

Cryptocurrency industry which is still reeling from the catastrophic collapse of Sam Bankman-Fried’s FTX has slammed Biden’s administration for refusing to disclose political donations.

Joe Biden Administration Is Monitoring Crypto Situation

Karine Jean-Pierre has said regulations are needed for cryptocurrencies

Jean-Pierre however noted that cryptocurrencies affect everyday Americans and the government is observing the current situation.