Elon Musk Believes FTX CEO Won’t Be Investigated Over Political Donations

While investors expect that Sam Bankman-Fried (SBF) will be legally liable for the bankruptcy of his brokerage, Elon Musk believes the CEO of FTX will not even be investigated because of donations to politicians.

According to data from OpenSecrets, an organization that focuses on tracking money sent to politicians, FTX.US has spent $286,000 on Republicans and another $283,462 on Democrats.

Sam Bankman-Fried has donated $38.8 million as an individual to politicians in current US President Joe Biden’s party. If he hadn’t lost his entire fortune in the past week, he probably would have donated up to $1 billion in the next presidential race.

Nor will it be investigated, says Elon Musk

Unable to withdraw their cryptocurrencies, former FTX customers are now following the news closely. In addition to his investments, many also expect Sam Bankman-Fried to face a lawsuit, preferably with a severe sentence to set an example for others.

However, Elon Musk believes that SBF will not even be investigated, precisely for the millionaire donations mentioned above.

“SBF was a big Democratic donor, so no research.”

He then notes that Alameda CEO Caroline Ellison also has political ties. After all, his father, Glenn, was the boss of Gary Gensler, the current chairman of the US Securities and Exchange Commission, the SEC.

Others make even more serious accusations, claiming that FTX is being used by Democrats for money laundering. As a reward, regulators would help FTX get rid of its competitors.

“Democrats sent billions to Ukraine disguised as military aid. The Ukrainian government has invested this money in FTX. Founder of FTX will be the Democrats’ second-largest donor.”

Sam Bankman-Fried, the next Warren Buffett

When it comes to investments, many remember Warren Buffett, an American investor who ranks sixth as the richest person in the world. With that, Fortune came to compare Sam Bankman-Fried with the “Oracle of Omaha”.

Elon Musk also toyed with this situation, recalling the time when the magazine said Elizabeth Holmes would have the same success as Steve Jobs. However, the founder of Theranos turned out to be a scammer just like SBF but still hasn’t been arrested even after four years have passed since her demise.

Finally, it appears that the CEO of FTX will not suffer any serious consequences from his actions. Former clients of your brokerage firm, on the other hand, have to wait years for the recovery of only part of their investments.

Source: Live Coins