On October 27, FTX US gave Senate Republican Leader Mitch McConnell a $1 million donation. Over 100 FTX-affiliated businesses, including its US division, filed for bankruptcy after a few weeks.
According to reports, a number of members of Congress, including Republican Kevin Hern and Democrat Richard Durbin, stated they would return donations from FTX or donate them to organizations.
Congressional Leadership Fund and Patriots PAC, two organizations that back Republicans, each received a $750,000 donation from FTX US.
In contrast, it contributed $100,000 to the Katie Britt-supported Alabama Conservatives Fund.
The majority of SBF’s $40 million in donations, according to OpenSecrets, went toward supporting Democrats, whereas Ryan Salame gave over $23 million to largely Republican and conservative organizations.
In the 2022 election cycle, the crypto industry donated $84.1 million. However, a significant portion of that money—roughly 84%—came from SBF and other FTX officials.
