Sam Bankman-Fried gave millions to support Democrats in the midterms, but with the company unraveling and a bankruptcy proceeding, several politicians are giving away what he gave to them.
The founder and former CEO of FTX donated nearly $40 million to Democrats this election cycle, trailing only George Soros, who gave away about $128 million, according to OpenSecrets, a D.C.-based nonprofit.
An aide for Sen. Dick Durbin (D-Ill.) told CNBC on Monday that the senators campaign would give to an appropriate charity a $2,900 donation from SBF. Another Democrat, Sen. Kirsten Gillibrand of New York, said she planned to donate SBFs $16,600 contribution to a Bronx-based charity, Ariva Inc., that promotes individual wealth and economic development in low-to-moderate income communities.
Gillibrand along with Sen. Cynthia Lummis (R-Wyo.) cosponsored an SBF-supported bill earlier this year that aimed to clarify cryptocurrency regulations. Bankman-Fried, whos often discussed his commitment to effective altruism, also supported other pro-crypto politicians through both direct donations and political action committees.
Rep. Jesus Chuy Garcia (D-Ill.) last week donated $2,900 hed received from Bankman-Fried to the Northwest Center, a Chicago charity that aims to improve financial literacy and economic well being, according to Politico.
While SBF donated mostly to Democrats, a top executive at FTX Digital Markets, Ryan Salame, spent about $20 million to support Republicans during the same cycle, according to OpenSecrets. Some of those politicians are also returning funds.
A representative for Rep. Kevin Hern (R-Okla.) told the Block that a $5,000 contribution from Salame to the Hern Victory Fund, a joint fundraising committee with ties to his campaign, has since been given to an Oklahoma charity called Food On The Move.
Sign up for the Fortune Features email list so you dont miss our biggest features, exclusive interviews, and investigations.
