FTX Debtors Demand Return of Funds Given to US Politicians and Super PACs
A group of debtors from FTX, a crypto asset exchange, have made a staggering demand for their money back. The crytocurrency exchange recently revealed that its users had donated over $63 million to US politicians and various political Action Committees, Super PACs.
The Reckoning
The original FTX debtors are now demanding that their money be returned to them, by way of a “clever” yet totally legal ploy. Speaking on condition of anonymity, an anonymous FTX debtor said:
“We thought we were helping support the election process in a safe, anonymous way. It turns out we had no idea how it was actually being used. We want our money back.”
Where’s Our Money?
This is not the first time money given to US politicians and PACs has come under scrutiny. Just last month, a California court levied hefty fines against a political action committee for failing to declare money given to them by foreign donors.
In this case, however, the FTX debtors demand a far better way of getting their money back: a refund. In a statement, their representative said:
“We understand that this money may have been used for political purposes, and to fund campaigns. But we would like to think that the US government can find ethical ways to return at least a portion of the money.”
Will They Get Their Money Back?
At this stage, it’s hard to say whether or not the FTX debtors will get their money back. US law does not currently require any politician or PAC to return money given to them, for any reason.
At best, the FTX debtors will probably be rewarded with a slap on the wrist and a stern talking to. But, then again, stranger things have happened.
Conclusion
Despite the bleakness of the situation, one cannot help but wonder if something good may come of it. Maybe these FTX debtors will get their much-need money back, or at least give other crypto users pause before donating to US politicians and PACs again. Only time will tell.
