{"id":281,"date":"2026-06-09T09:08:47","date_gmt":"2026-06-09T09:08:47","guid":{"rendered":"https:\/\/modernhomejournals.com\/?p=281"},"modified":"2026-06-09T09:08:47","modified_gmt":"2026-06-09T09:08:47","slug":"political-committees-are-still-forfeiting-crypto-kingpins-tainted-contributions","status":"publish","type":"post","link":"https:\/\/modernhomejournals.com\/?p=281","title":{"rendered":"Political Committees Are Still Forfeiting Crypto Kingpins\u2019 Tainted Contributions"},"content":{"rendered":"
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In 2022, it took less than a week for the multibillion-dollar cryptocurrency exchange FTX to collapse<\/u><\/span> into bankruptcy, prompting politicians and political groups to quickly promise refunds of donations given to them by the company\u2019s soon-to-be-indicted executives.<\/p>\n

Read more The Justice Department Had 36 Lawyers Fighting Corruption Full-Time. Under Trump, It\u2019s Down to Two.<\/a><\/p>\n

The path to restitution, however, has been anything but swift. It took years for most organizations to reach agreements to repay the tainted funds following negotiations with the Justice Department and FTX\u2019s lengthy bankruptcy proceedings.<\/p>\n

That slog means major political groups that support the campaigns of Democrats and Republicans alike are continuing to pay out millions of dollars during the 2026 midterm campaign, harming their bottom lines at a time when they\u2019re fighting for control of Congress.<\/p>\n

The situation is especially hurting Democrats, who on balance have raised less cash than their Republican counterparts this cycle and have surrendered far more FTX-related settlement money.<\/p>\n

Overall, negotiations have resulted in a<\/u><\/span> mix<\/u><\/span> of FTX-linked settlement payouts \u2014 some still being made to this day \u2014 and other obfuscated payback agreements that leave unclear how much tainted money various groups may retain or were ever obligated to give back.<\/p>\n

Over a dozen largely Democratic-aligned groups in November 2024, with some quickly repaying all funds they had taken over the years from FTX or its executives. Among those organizations was the House Majority PAC, the primary super PAC supporting Democratic House candidates, which surrendered $6 million to the U.S. Marshals later that month, according to federal records.<\/p>\n

Others have been far slower to make such agreements or return the funds they received. <\/p>\n

EMILYs List\u2019s super PAC arm, Women Vote, made its to the FTX Recovery Trust this April: $650,000. It had received $2.25 million from FTX\u2019s then-head of engineering, Nishad Singh, and has an outstanding balance of $650,000, federal filings show.<\/p>\n

\n<\/div>\n

Women Vote and dozens of other organizations that NOTUS reached out to did not respond to requests for comment.<\/p>\n

Senate Majority PAC, the Democratic Party\u2019s aligned super PAC supporting Senate candidates, had accepted a total of $3 million from FTX founder Sam Bankman-Fried and Singh. So far, it\u2019s surrendered $2 million to the U.S. Marshals across two payments in December 2024 and December 2025<\/u><\/span> \u2014 leaving $1 million still outstanding.<\/p>\n

Read more Nithya Raman Beats Out Spencer Pratt to Challenge LA Mayor Karen Bass<\/a><\/p>\n

\u201cSenate Majority PAC entered into an agreement with the U.S. Marshals Service to return these funds and we continue to meet that schedule,\u201d committee spokesperson Lauren French said in a statement. \u201cIt has always been and remains our intent to return 100% of the funds.\u201d<\/p>\n

Democratic groups across the country received tens of millions of dollars from FTX and its leaders \u2014 far more than what Republican-aligned organizations received.<\/p>\n

\u201cPursuant to a settlement agreement, the Michigan Democratic Party returned 100 percent of the funds received from FTX,\u201d spokesperson Leah Leszczynski said in a statement, adding that it forfeited the cash last year.<\/p>\n

The primary super PAC backing Vice President Kamala Harris\u2019 2024 presidential campaign, Future Forward, made its latest payment to the recovery funds in February 2025, forfeiting $3.35 million.<\/p>\n

In July 2025, FTX agreed to drop lawsuits against six largely Republican-aligned political groups after seeking to recoup donations it had sent their way. The terms of the dismissals were not made public, making it unclear how much each organization may have agreed to forfeit.<\/p>\n

Among them were the Congressional Leadership Fund and Senate Leadership Fund \u2014 both Republican super PAC powerhouses \u2014 which respectively paid out $825,000 in July 2025 and $1.05 million in August 2025.<\/p>\n

Of the six, only American Prosperity Alliance, a nonprofit linked to former Speaker Kevin McCarthy, responded to NOTUS\u2019 inquiries, confirming: \u201cAll payments have been made.\u201d It did not specify a payment amount.<\/p>\n

Bankman-Fried, who is currently serving a 25-year prison sentence for various crimes, including financial fraud, formally applied<\/u><\/span> for a pardon from President Donald Trump on Monday.<\/p>\n

Read more New World Screwworm Spreads Beyond Texas<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Democratic and Republican committees continue reeling from FTX\u2019s legal meltdown \u2014 and it\u2019s affecting their bottom lines in 2026.<\/p>\n","protected":false},"author":1,"featured_media":280,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"yoast_head":"\nPolitical Committees Are Still Forfeiting Crypto Kingpins\u2019 Tainted Contributions - Modern Home Journals<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/modernhomejournals.com\/?p=281\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Political Committees Are Still Forfeiting Crypto Kingpins\u2019 Tainted Contributions - Modern Home Journals\" \/>\n<meta property=\"og:description\" content=\"Democratic and Republican committees continue reeling from FTX\u2019s legal meltdown \u2014 and it\u2019s affecting their bottom lines in 2026.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/modernhomejournals.com\/?p=281\" \/>\n<meta property=\"og:site_name\" content=\"Modern Home Journals\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-09T09:08:47+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/#\\\/schema\\\/person\\\/533de239efc09a2ab59959cc1bff86d0\"},\"headline\":\"Political Committees Are Still Forfeiting Crypto Kingpins\u2019 Tainted Contributions\",\"datePublished\":\"2026-06-09T09:08:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281\"},\"wordCount\":660,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/modernhomejournals.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/1f9aead9c70416df8a704590cd9b2776-scaled.jpeg\",\"articleSection\":[\"Money\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/modernhomejournals.com\\\/?p=281#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281\",\"url\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281\",\"name\":\"Political Committees Are Still Forfeiting Crypto Kingpins\u2019 Tainted Contributions - Modern Home Journals\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/modernhomejournals.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/1f9aead9c70416df8a704590cd9b2776-scaled.jpeg\",\"datePublished\":\"2026-06-09T09:08:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/#\\\/schema\\\/person\\\/533de239efc09a2ab59959cc1bff86d0\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/modernhomejournals.com\\\/?p=281\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/modernhomejournals.com\\\/?p=281#primaryimage\",\"url\":\"https:\\\/\\\/modernhomejournals.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/1f9aead9c70416df8a704590cd9b2776-scaled.jpeg\",\"contentUrl\":\"https:\\\/\\\/modernhomejournals.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/1f9aead9c70416df8a704590cd9b2776-scaled.jpeg\",\"width\":2560,\"height\":2060,\"caption\":\"FILE - Sam Bankman-Fried leaves Manhattan federal court in New York on Feb. 16, 2023. 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