Democrats Remain Mum on FTX Gift

Federal prosecutors say the cash for political donations came from customer funds misappropriated by FTX affiliate Alameda Research.

Sam Bankman-Fried Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled "Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models," in Longworth Building on Thursday, May 12, 2022. (Tom Williams/CQ Roll Call via AP Images) (Tom Williams/AP)
By Anthony Effinger

Two weeks after WW’s initial inquiry, the Democratic Party of Oregon still won’t say whether it plans to return a $500,000 contribution from Nishad Singh, former director of engineering at FTX, the now-bankrupt cryptocurrency exchange run by Sam Bankman-Fried.

Bankman-Fried, who bankrolled Democratic candidates across the county, including Oregon congressional hopeful Carrick Flynn, was arrested Monday in the Bahamas and on charges of lying to investors, wire fraud, and conspiracy to defraud the United States.

He also violated campaign finance laws, according to federal prosecutors, by making political contributions to both parties under the names of “co-conspirators.” In truth, that cash came from customer funds misappropriated by FTX affiliate Alameda Research, prosecutors say.

Democratic Party of Oregon executive director Brad Martin declined to comment. Records at the Oregon Secretary of State’s Office show the DPO has $473,000 in its account.

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