Democrats return only 2.2% of $45.2M donation by FTX's co-founder

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The Democratic Party will only return 2.2% of the $45.2 million donation made by Sam Bankman-Fried, the co-founder of FTX, has raised questions about the party's commitment to ethical decision-making. Bankman-Fried has been a significant donor to the Democrats, with estimates suggesting that he gave the party at least $40 million in donations, and possibly even up to $1 billion. However, since Bankman-Fried's arrest, there have been concerns about the legitimacy of the funds he donated, and there have been calls for the donations to be returned to the bankrupt FTX estate so that it can pay back its creditors.

"Returning only 2.2% of the funds back to the bankrupt estate could be seen as a political calculation rather than a moral one. It’s unclear whether the FTX debtors will be satisfied with receiving just 2.2% of the funds or if they will seek to reclaim a greater portion of the political donations made by Bankman-Fried."

While three major Democratic organizations have agreed to return $1 million of the funds, which represents approximately 2.2% of Bankman-Fried's total contribution, there is still $44.2 million that the party has not offered to return. This has led to criticism that the party is making a political calculation rather than a moral one, and that it may be seen as rewarding and legitimizing behavior that may have been acquired through fraudulent means.

The Democratic Party will only return 2.2% of the $45.2 million donation made by Sam Bankman-Fried, the co-founder of FTX

There are also concerns about the impact of these donations on U.S. politics, given that Bankman-Fried was one of the largest donors to Joe Biden's campaign in 2020. With allegations of potential campaign finance violations by Bankman-Fried, some U.S. bureaucrats have taken it upon themselves to donate the money to charity.

Overall, this situation highlights the importance of transparency and ethical decision-making in political donations. While the Democratic Party has taken steps to return some of the funds, there is still a significant amount that has not been returned. As the legal proceedings continue, it remains to be seen what further action will be taken by the party and its candidates.

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