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Sam Bankman-Fried in an interview during the Bitcoin 2021 conference. (Photo: Wikipedia Commons).

N.J. Democrats ready to reject Bankman-Fried contribution

By David Wildstein, December 19 2022 2:23 pm

The New Jersey Democratic State Committee is planning to divest itself of it’s $9,756 share of a Democratic National Committee contribution made by Sam Bankman-Fried, the cryptocurrency entrepreneur who is facings  securities and campaign finance fraud charges.

Bankman-Fried contributed about $40 million to candidates from both parties – liberal and conservative — during the 2022 campaign cycle.  The New Jersey state party received an allocated are of the FTX founder’s DNC contribution.

Democrats are planning to return Bankman-Fried’s donations, the Washington Post has reported.

“This past election cycle, the NJDSC received a contribution from the DNC’s Democratic Grassroots Victory Fund which included an approximately $9,000 donation allocated to Samuel Bankman-Fried,” said Phil Swibinski, a spokesman for the New Jersey Democratic State Committee.  “The DNC has already indicated that it is setting aside funds to return all of Mr. Bankman-Fried’s contributions since 2020 once more guidance in the pending legal matters is available.  The NJDSC will continue to work with the DNC to ensure that all of the funds received from Mr. Bankman-Fried are returned.”

Contributions from Bankman-Fried also went to Rep. Josh Gottheimer (D-Wyckoff) and Rep.-elect Robert J. Menendez (D-Jersey City).  He donated $6 million to the House Majority PAC, $250,000 to the Democratic Congressional Campaign Committee, and $45,000 to the National Republican Congressional Committee.

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