Democrats In Oregon Will Be Punished By Fagan For An FTX Donation

FTX Donation: More than a month after WW’s initial inquiry, the Democratic Party of Oregon still won’t say what it plans to do with a contribution of $500,000 made in the name of Nishad Singh, a former director of engineering at FTX, the now-defunct cryptocurrency exchange run by Sam Bankman-Fried. This is despite the fact that WW has repeatedly asked the party about its intentions regarding the contribution.

Democrats In Oregon Will Be Punished By Fagan For An FTX Donation

Bankman-Fried is accused, among other things, of making donations totaling millions of dollars in other people’s names using funds taken from customers’ accounts at FTX. This allegation comes from the United States Department of Justice.

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In an email, the executive director of the DPO, Brad Martin, stated that there would be “no updates or comments at this time.”

Up until very recently, the nonprofit organization had sufficient funds in its account to repay the payment. According to the documents kept by the state, the account now displays $333,000.

Democrats In Oregon Will Be Punished By Fagan For An FTX Donation
Democrats In Oregon Will Be Punished By Fagan For An FTX Donation

In November, Oregon Secretary of State Shemia Fagan issued a request for information on the gift, which marked the beginning of an inquiry into the matter. On December 20th, the DPO sent a response, and according to spokesperson Ben Morris, Fagan’s office is now evaluating the answer. The response is not available to the public.

According to Morris, Fagan has plans to issue a punishment to the state party for changing information regarding a donation made on October 4 after the deadline, which was seven days after that date. The DPO waited until the 31st of October to declare that the money originated from Singh and not from a cryptocurrency firm based in Las Vegas named Prime Trust.

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According to the Department of Justice (DOJ), Bankman-Fried, who is currently serving house arrest at his parent’s home on the Stanford University campus in Palo Alto, California, where his parents are both professors, may have been the source of the contribution. Bankman-parents Fried are both professors at Stanford.

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