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Former FTX executive Nishad Singh was a prolific Democratic Party donor: CNBC

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Former FTX executive Nishad Singh was a prolific Democratic Party donor: CNBC

Former FTX Director of Engineering Nishad Singh donated millions to candidates and causes aligned with the Democratic Party beginning in 2020, CNBC reported.

Prior to taking a senior role in Sam Bankman-Fried’s now-crumbling crypto empire, Singh’s only political contribution was $2,700 to Rep. Sean Casten, D-Ill., in 2018. However, when Singh joined FTX in 2019 after a brief role at Alameda Research, he would go on to donate more than $13 million to Democrats after the 2020 elections, CNBC said, citing state and federal campaign records. 

At least $8 million from Singh flowed to Democratic causes in the 2022 election cycle, including $1 million to support a political action committee (PAC) behind Joe Biden’s presidential bid, $2 million to support the Senate Majority PAC, a combined $4 million to Reproductive Freedom for All, and another $1 million to Mind the Gap, a super PAC founded by Bankman-Fried’s mother, CNBC said.

Nonpartisan campaign tracker OpenSecrets ranks Singh 31st in its list of top donors to outside spending groups.

A $500,000 donation from crypto startup Prime Trust to the Democratic Part of Oregon PAC actually originated from Singh, The Oregonian reported

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source – Theblockcrypto.com

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