close
Saturday April 27, 2024

Joe Biden received millions of dollars from Sam Bankman-Fried — who else did?

Many Democrats, Republicans borrowed money from FTX founder

By Web Desk
March 29, 2024
Joe Biden is also involved with Sam Bankman-Frieds illicit money. — Dealbook Summit/File
Joe Biden is also involved with Sam Bankman-Fried's illicit money. — Dealbook Summit/File

Joe Biden received about $5 million from Sam Bankman-Fried along with Mitt Romney, Cory Booker, Paul Ryan, and Nancy Pelosi.

Additionally, so many other Democrats and Republicans accepted collectively tens of millions, according to an opinion piece written by Aditya Chakrabortty in The Guardian.

Sam Bankman-Fried has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm.

For former billionaire, who emerged as a high profile champion of crypto before his firm's dramatic collapse in 2022, this ruling cements a downfall for him.

He has stolen billions from customers ahead of the failure.

Bankman-Fried’s conviction is expected to be appealed by his legal team.

A message from his parents shared with the BBC by a representative for Bankman-Fried said: "We are heartbroken and will continue to fight for our son."

The 32-year-old said in court earlier that he knew "a lot of people" felt "really let down".

"I'm sorry about that. I'm sorry about what happened at every stage," he said, speaking quietly and clearly ahead of his sentencing.

Before its demise, FTX was one of the world's largest crypto exchanges, turning Bankman-Fried into a business celebrity and attracting millions of customers who used the platform to buy and trade cryptocurrency.