Democrats To Return Funds Provided by SBF

Story: Divya Sinha

As per the reports, three Democratic groups have said they will return funds donated by Sam Bankman-Fried to defrauded FTX clients.

Among them, Democratic National Committee announced that it will refund the donations received from the former FTX founder.

A DNC spokesperson said that they are setting aside funds in order to return the $815,000 in contributions since 2020.

Also, the spokesperson mentioned that they will return as soon as they will receive proper direction in the legal proceedings.

According to The Washington Post, the Democratic Senate Campaign Committee and the Democratic Congressional Campaign Committee will set aside a total of $353,000 received from SBF and return those funds.

As per NBC News, 25 of the 59 Democratic and GOP candidates who received individual contributions have planned to donate the money to charity.

The other three said they would either return the donation or withhold it until federal investigators took further action.