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2022-12-19 Home Front: Politix

Michigan Democrat received $55,600 from FTX employees before sponsoring crypto bill in Senate

[Just the News] Michigan Democratic Sen. Debbie Stabenow received at least $55,600 in donations this year from employees of FTX, a cryptocurrency exchange platform that declared bankruptcy after allegedly misusing client funds.
Link to bio found here.
Then, Stabenow, who as Agriculture Committee chairwoman oversees the Commodities Future Trading Commission, a cryptocurrency regulator, sponsored legislation to regulate cryptocurrency.

Michigan Capital Confidential first reported the story, citing Federal Election Commission records.

Coindesk reported that FTX founder Sam Bankman-Fried consistently met with regulators and lawmakers and pushed for crypto regulation, including lobbying for the Digital Commodities Consumer Protection Act, Stabenow's bill. The bill seeks to give the CFTC more authority to regulate digital commodities like FTX.

Bankman-Fried tweeted on Oct. 18, 2022, "I'm optimistic that the Stabenow-Boozman's bill will provide customer protection on centralized crypto exchanges without endangering the existence of software, blockchains, validators, DeFi, etc. If I were convinced I was wrong about that, I would not support it."

Bankman-Fried backed Stabenow's bill and paid bill cosponsor Sen. John Boozman (R-Ark.), $8,700; cosponsor Sen. Kirsten Gillibrand (D-N.Y.), $5,800, and cosponsor Sen. Cory Booker (D-N.J.) $5,700, according to FEC records.

At one point, FTX claimed to be worth $32 billion before its collapse.

Posted by Besoeker 2022-12-19 07:38|| || Front Page|| [20 views ] Top

US lawmakers NO LONGER celebrating. Stabenow is only one of dozens.

Posted by Besoeker 2022-12-19 08:16|| 2022-12-19 08:16|| Front Page Top

#2 The best party money can buy.

Posted by AlanC 2022-12-19 08:36|| 2022-12-19 08:36|| Front Page Top

#3 Always blows my mind how cheaply our pols can be bought. $55k is not a lot of money.

Posted by Angstrom 2022-12-19 09:22|| 2022-12-19 09:22|| Front Page Top

#4 ^ They don't stay bought, so it's just rent.

Posted by M. Murcek 2022-12-19 09:35|| 2022-12-19 09:35|| Front Page Top

#5 donations my ass

Posted by Chris 2022-12-19 09:58|| 2022-12-19 09:58|| Front Page Top

#6 2015: Husband of Michigan Sen. Debbie Stabenow Caught in Sex Sting

Posted by Frank G 2022-12-19 10:05|| 2022-12-19 10:05|| Front Page Top

#7 ^ Can you blame the guy?

Posted by M. Murcek 2022-12-19 10:12|| 2022-12-19 10:12|| Front Page Top

#8 ^ She is cheap by politician standards but she appears to be out of her husband’s price range.

Posted by Super Hose 2022-12-19 10:14|| 2022-12-19 10:14|| Front Page Top

#9 The official photo does sort of look like Jadis the White Witch of Narnia making a guest appearance as a puppet on the kid’s show Lazytown.

Posted by Super Hose 2022-12-19 10:19|| 2022-12-19 10:19|| Front Page Top

#10 FTX certainly understood Washington politics.

Credit where credit is due.

Posted by Besoeker 2022-12-19 10:23|| 2022-12-19 10:23|| Front Page Top

#11 Media outlets bury FTX-Democrat campaign financing angle

Posted by Skidmark 2022-12-19 10:36|| 2022-12-19 10:36|| Front Page Top

#12 #3 $55,000 here, $55,000 there, it adds up.

Posted by JohnQC 2022-12-19 11:02|| 2022-12-19 11:02|| Front Page Top

#13 #9 It's the Aquanet

Posted by Rex Mundi 2022-12-19 12:41|| 2022-12-19 12:41|| Front Page Top

#14 The shoe that hasn't dropped yet is the clean-up management of FTX (John Ray) going after "clawbacks", the return of all these payments, like the Madoff trustee.

Posted by Matt 2022-12-19 14:40|| 2022-12-19 14:40|| Front Page Top

#15 Just remember with SBF & FTX, you can't con an honest man (person if you prefer).

Posted by AlanC 2022-12-19 16:48|| 2022-12-19 16:48|| Front Page Top

#16 Yes #14, all these dems saying "I donated the money to charity" doesn't get them off the hook. If their intention is to claim that the money should be clawed back from the charities because they were just a "pass through," then the charities better beware.

Posted by M. Murcek 2022-12-19 18:59|| 2022-12-19 18:59|| Front Page Top

#17 The "clawback" will likely be spent at Goldberg, Rothstien, and Silver. Just my guess.

Posted by Besoeker 2022-12-19 19:09|| 2022-12-19 19:09|| Front Page Top

#18 Cheatem & Howe

Posted by M. Murcek 2022-12-19 19:46|| 2022-12-19 19:46|| Front Page Top

#19 Go after the GOP'ers, too, especially McConnell, whose PAC got some FTX filthy lucre.

Posted by Clunter Phomort5724 2022-12-19 20:05|| 2022-12-19 20:05|| Front Page Top

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