Super PAC Funded by Infamous Crypto Kings Spent Over $200,000 on Pro-Fetterman Ads
Chuck Ross • November 22, 2022 at 6pm
Senator-elected John Fetterman (D., Pennsylvania) denied “dirty money” from corporate interests in the Senate election. His Sam Bankman-Fried cryptocurrency scammer was a notable exception, according to campaign financial records.
Web3 Forward, a crypto-backed super PAC heavily funded by Bankman-Fried, spent over $210,000 on ads portraying Fetterman as a blue-collar hero who “won’t be fooled by lobbyists.” new york times report. Bankman-Fried, his crypto firm FTX, and one of his co-founders has about $4.1 million in his GMI PAC, another tech-oriented group that is the sole funder of Web3 Forward. donated.
Bankman-Fried’s endorsement of Fetterman undermines Democratic campaign promises to avoid corporate campaign contributions. “No dirty money. No corporate his PAC,” he said, Fetterman. murmured It’s May 12th, a few days after a Web3 ad was posted to support him.
according to TimesWeb3 Forward began advertising for Profetterman two months after he voiced his support for cryptocurrencies in response to Web3’s candidate survey.
A Web3 Forward consultant wrote to Fetterman’s ally, “We don’t need anything more from Team Fetterman. We’re thrilled he’s a cryptocurrency pro.” Times.
Fetterman wasn’t the only Democrat to benefit from Bankman-Fried’s endorsement. In 2020, Bankman-Fried donated her $5 million to Future Forward, the committee that supports President Joe Biden. During this election, he donated about $40 million to Democratic committees and congressional candidates. The entrepreneur and his associates donated more than $300,000 to help his nine members of the House Financial Services Committee poised to investigate the collapse of FTX. washington free beacon report. The Securities and Exchange Commission and the Justice Department are reportedly investigating whether FTX mishandled customer funds.
Fetterman’s spokesman tried to keep the Senator-elect away from Bankman-Fried. Times.
“Sam Bankman-Fried must be held fully accountable,” Fetterman spokesman Joe Calvelo told the newspaper.