Winklevoss Calls for Investigation into Dropped FTX Campaign Finance Charges
Gemini co-founder Cameron Winklevoss is calling for an investigation into the dismissal of campaign finance charges against Sam Bankman-Fried (SBF), former founder of the collapsed FTX exchange. He criticized the Department of Justice (DOJ) for not addressing allegations involving over $100 million linked to election interference and urged the incoming US Attorney General to take action.
In a November 23 post on X, Winklevoss expressed concerns regarding the DOJ's decision under Attorney General Merrick Garland, suggesting that legal formalities related to Bankman-Fried’s extradition agreement with the Bahamas hindered serious accusations regarding stolen customer funds.
Federal prosecutors dropped the charges last year due to objections from Bahamian authorities. The accusations claimed that over $100 million was diverted from Alameda Research to make more than 300 political donations, often using corporate funds or intermediaries to obscure their sources. Prosecutors stated the intent was to influence Washington, D.C., and promote legislation favorable to FTX and the cryptocurrency sector.
Bankman-Fried was a prominent political donor during the 2022 midterm elections. Winklevoss highlighted the necessity of investigating the use of these funds and questioned the DOJ's decision not to pursue the allegations, given their potential impact on election results. He criticized the oversight of campaign finance violations as unacceptable.
Other individuals involved in the FTX collapse have faced legal repercussions. Caroline Ellison received a two-year sentence, while Ryan Salame was sentenced to 7.5 years. Gary Wang and Nishad Singh avoided prison by cooperating with prosecutors. Bankman-Fried is currently serving a 25-year sentence for fraud and related offenses.
FTX’s bankruptcy managers are advancing a reorganization strategy set to commence in January. They have recovered billions for creditors and are working to reclaim additional assets linked to other parties. Winklevoss asserts that resolving the unresolved campaign finance allegations is essential for ensuring accountability in the FTX case.