Lawyers for the bankrupt estate of crypto exchange FTX are pursuing over $38 million paid to PACs and political nonprofits, claiming the funds were illegal.
FTX's attorneys filed lawsuits against political organizations to reclaim funds they allege were made illegally with customer deposits, mainly benefiting Republican-affiliated groups.
The largest recipient of these funds, One Nation, received $15.5 million, which FTX's lawyers say was an improper transfer meant to enhance FTX's political image.
Executives like Sam Bankman-Fried and Ryan Salame funneled money to political groups to influence American voters, with a major focus on Republican organizations.
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