BY Jack Davis, The Western JournalJanuary 8, 2023
1 year ago

McCarthy Quiet as Massive Monetary Tie to FTX Is Uncovered

A former co-CEO of the disgraced and bankrupt cryptocurrency exchange FTX donated to House Speaker Kevin McCarthy, according to federal records.

Federal Election Commission records show that in the 2022 campaign cycle, Ryan David Salame made two donations to McCarthy, totaling $8,700. However, that pales next to the $2 million FEC records show Salame gave to the Congressional Leadership Fund, which is closely aligned with McCarthy.

According to the website Open Secrets, the $2 million donation made Salame the 19th-biggest donor to the fund.

McCarthy has yet to offer a comment on what he will do with the money he received from Salame. According to Zenger News, which reported the financial tie on Friday, McCarthy spokeswoman Christina Cameron had not responded to requests for comment.

The FEC gives political candidates and organizations two options if they accept donations that turn out to be of questionable legality.

“If a committee deposits a contribution that appears to be legal and later discovers that it is prohibited, the committee must refund the contribution to the original contributor (if known) within 30 days of making the discovery. Alternatively, the committee may disgorge the funds to the U.S. Treasury,” the FEC said on its website.

The leadership of FTX invested big time in campaigns. The exchange's founder, Samuel Bankman-Fried, was the second-biggest individual donor to the Democratic Party in the 2022 election cycle, behind only billionaire George Soros.

Bankman-Fried gave about $40 million this election cycle, mostly to Democrats, according to The Washington Post. A column by National Review senior political correspondent Jim Geraghty, published Dec. 1 by The Washington Post, reported that Salame, who turned on Bankman-Fried days before FTX declared bankruptcy, balanced that by giving $24 million to Republicans.

In a Dec. 13 interview with Fox Business host Larry Kudlow, McCarthy called for a full disclosure of how FTX went from high flying to a crash landing.

The interview took place the day after Bankman-Fried's arrest in the Bahamas, and the same day the former crypto titan was supposed to have testified before the House Financial Services Committee.

“We really need to know, where did this money go? What was he doing? What was he providing? And I think having testified would have been the first start,” he said.

Asked then about whether money FTX executives gave candidates should be given back, McCarthy hedged.

“Well, we’ll see where the money went,” he said.

McCarthy said Bankman-Fried never donated to him.

“I never received money from him. I received some money from an individual who worked there as well,” McCarthy said.

The collapse of FTX led to a congressional investigation and Bankman-Fried’s arrest on fraud charges after FTX’s customers lost an estimated $8 billion.

CORRECTION, Jan. 16, 2023: Samuel Bankman-Fried donated about $40 million this election cycle, mostly to Democrats, according to The Washington Post. An earlier version of this article indicated it was someone else.

This article appeared originally on The Western Journal.

Written by: Jack Davis, The Western Journal

NATIONAL NEWS

SEE ALL

Judge Blocks Law Allowing Police To Arrest Illegal Immigrants

In a dramatic turn of events, a federal judge has suspended a contentious new Texas law designed to empower state police to detain migrants suspected…
2 hours ago
 • By Staff Writers

Donald Trump Takes Center Stage In Looking Senate Leadership Fight

In a seismic shift for U.S. politics, Senate Minority Leader Mitch McConnell (R-KY) announced his resignation. November will mark a significant leadership transition within the…
2 hours ago
 • By Staff Writers

Fani Willis Charged With Deputy DA Getting Paid $131K In 2023 From Former Biden Aide

In a twist that casts shadows on political impartiality, Fulton County’s Deputy District Attorney Jeff DiSantis finds himself at the center of controversy due to…
2 hours ago
 • By Staff Writers

Supreme Court Officially Takes Trump Immunity Case

In a move that has gripped the nation's attention, the U.S. Supreme Court has determined whether former President Donald Trump can claim immunity from prosecution…
3 hours ago
 • By Staff Writers

Judge Denies Trump Request To Pause $355M Ruling

In a remarkable turn of events, a New York appeals judge has denied Donald Trump's plea to stall a staggering $355 million judgment in a…
4 hours ago
 • By Staff Writers

DON'T WAIT.

We publish the objective news, period. If you want the facts, then sign up below and join our movement for objective news:

    LATEST NEWS

    Newsletter

    Get news from American Digest in your inbox.

      By submitting this form, you are consenting to receive marketing emails from: American Digest, 3000 S. Hulen Street, Ste 124 #1064, Fort Worth, TX, 76109, US, http://americandigest.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact.
      Christian News Alerts is a conservative Christian publication. Share our articles to help spread the word.
      © 2024 - CHRISTIAN NEWS ALERTS - ALL RIGHTS RESERVED
      magnifier