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Political groups pull $1 million in donations to the SBF

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The Washington Post was the first to reveal that three major Democratic campaign committees will allocate more than $1 million in donations FTX Founder and former cryptocurrency golden child Sam Bankman-Fried. FTX clients can expect to get their money back from the entities as part of the current legal process.

Days after that was Bankman Fried detained He was charged with eight counts, including wire fraud and violation of campaign finance laws, and these announcements were made by the Democratic National Committee as well as two important Democratic political organizations.

In a statement to The Verge on Friday, the DNC representative said, “Given concerns about potential campaign finance violations by Bankman-Fried, we are setting aside money to pay pledges of $815,000 since 2020.” Once we get the right instructions about the legal process, we’ll be back. According to The Post, staff of the Democratic Senate Committee as well as the Democratic Congressional Campaign Organization have promised to withdraw $103,000 and $250,000 they received from Bankman Fried.

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The remarks come on the heels of a fast-paced week of information about the recent fiasco of the famous Fred Pinkman Cryptocurrency FTX exchange as well as sister arbitrage fund Alameda Research.

Federal prosecutors unsealed their charges, accusing Bankman-Fried of running a major straw donation scam after his arrest Monday. US Counsel Damian Williams said Tuesday that FTX-related payments “were disguised as appearing to come from wealthy co-conspirators when, in reality, the contributions were sponsored by Alameda Research using stolen client funds.”

Bankman-Fried has contributed more than $40 million in individual donations to primarily Democratic candidates and organizations over the past two years, making him one of the most prolific political donors in the United States. However, Bankman-Fried revealed to cryptocurrency writer Tiffany Fong how he sent a similar amount of cash to Republican organizations shortly after FTX filed for bankruptcy in November.

Dirty money

In a conversation with Fong that was recorded and posted to YouTube on November 29, the SBF said, “All Republican donations have gone grim.” If I give money to my fans, reporters freak out. They’re all vandal-liberals, so I didn’t want to get into a fight with them. Since last year, Bankman-Fried has given them $5,800, and they’ve either already donated the money or plan to do so.

During a press conference Tuesday, US Attorney General Williams endorsed Bankman’s admission of Fried’s involvement in Republican funding. Williams alleged that Bankman Fried used “all this dirty money” to buy bipartisan support and influence Washington politics. The Democratic contenders have been urged to refund any money they received from the crypto mogul, though the full size of Bankman-GOP Fried’s contributions has yet to be revealed. According to a report by CBS News Thursday, the majority of Democratic candidates who have received Bankman-Fried’s publicly acknowledged contributions have promised to either refund the money or donate it to charity.

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Just-elected Rep. Maxwell Frost (D-Fla.) announced Wednesday that he will present Bankman-Fried’s contributions to his candidacy to the Zebra Consortium, an organization that helps homeless LGBTQ+ children in Florida. The fact that Sam Bankman Fried defrauded over a million people out of their money seems obvious. Many of those were working-class families who had lost their savings, Frost noted in a tweet on Wednesday. “I never asked the SBF for money, but it gave to my campaign,” said the author.

Election observers expect revisions to campaign finance transparency laws as a result of the latest laws FTX breakdown and its relationship to mainstream politics. Citizens for Ethics and Responsibility Washington (CREW) has requested an investigation into Bankman-Bankman’s “black” donations in a complaint filed with the Federal Election Commission earlier this week.

More than $1 million in SBF money will be returned to FTX victims by Democrats

After the businessman was charged with conspiracy to commit financial crimes, three Democratic committees — the DNC, DSCC, and DCCC — promised to repay the SBF’s political contributions. Three well-known Democratic organizations have decided to pay back more than $1 million to investors who lost money as a result of embezzlement following the arrest of Sam Bankman Fried (SBF).

After the businessman was indicted on eight counts of economic fraud on Dec. 16, the DNC, DSCC as well as DCCC pledged to repay SBF campaign contributions. As The Washington Post reports, the other two groups, the DSCC as well as the DCCC, have also promised $103,000 plus $250,000, respectively. The SBF has previously acknowledged that it has given “significantly” to both political parties.

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The SBF stated in a podcast that it intends to invest up to $1 billion to influence the 2024 presidential race. Karen Jean-Pierre, the White House press secretary, declined to respond to inquiries about past SBF contributions being repaid to the party. She said , “I’m covered by the Hatch ActWith contributions of up to $5.2 million, Bankman was already the “dark CEO contributor” to the 2020 Biden campaign.

conclusion

According to The Washington Post, DCCF has raised $250,000, while DSCC will return $103,000 in Bankman-Fried donations. Salama and Nashad Singh, former director of engineering at FTX Digital Markets, both contributed organizers to political activity and candidate committees in the previous election cycle.

Until the hearing in February, the SBF is being held in the Bahamas without bail. In two other cases, both the Securities and Exchange Commission and the Commodity Derivatives Trading Commission have been accused of wrongdoing. after trying on service Last month, FTX filed for bankruptcy protection. According to bankruptcy documents, the company may owe more than 100,000 creditors for a maximum of $3.1 billion.

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BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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