Daily News

Elon Musk Says Sam Bankman-Fried Probably Gave Over $1B To Democrats: ‘The Money Went Somewhere’

Twitter CEO Elon Musk said FTX founder Sam Bankman-Fried’s donations in support of Democrats’ election endeavors could be over $1 billion.

What Happened: Musk made his comments while responding to a tweet from Will Manidis, the CEO of ScienceIO, a healthcare  AI platform. 

Manidis said Bankman-Fried donating $40 million “to not go to jail for stealing $10b+ is one of the highest ROI trades of all time.”

The Tesla and SpaceX CEO responded by saying, “That’s just the publicly disclosed number. His actual support of Dem elections is probably over $1B.”

Musk asked, “The money went somewhere, so where did it go?”

See Also: How To Invest In Tech Startups

Why It Matters: Earlier, Musk insinuated that Bankman-Fried should go to prison. He said that the FTX (CRYPTO: FTT) and Alameda Research founder should have “an adult timeout in the big house” 

Calls for the prosecution of Bankman-Fried have been coming from other quarters as well. Galaxy Digital CEO Mike Novogratz called for the cryptocurrency entrepreneur to be prosecuted for perpetuating a large fraud.

Dallas Mavericks owner Mark Cuban said recently that he’d be worried about going to jail if he were Bankman-Fried.

Bankman-Fried refused to confirm in a recent interview whether he knew customer funds were stolen and said he was surprised by the collapse of FTX.

FTX's bankruptcy led to a collapse in prices of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) and other coins in a moment compared with the 2008 Lehman Brothers Crisis.

Read Next: Sam Bankman-Fried To Testify Before U.S. House Committee After 'Learning and Reviewing' FTX Crash

Photo courtesy: Thomas Hawk on Flickr

What's your reaction?

In Love
Not Sure

Leave a reply

Your email address will not be published. Required fields are marked *

Next Article:

0 %