The trial of Sam Bankman-Fried, the founder of crypto exchange FTX, is set to begin this week. Caroline Ellison, his former girlfriend and head of Alameda Research, is expected to testify against him. SBF is accused of attempting to pay Donald Trump to not run for reelection in 2020. Ellison has pleaded guilty to seven criminal counts and could face up to 110 years in jail. However, Bankman-Fried has pled not guilty to the charges. In August 2023, a federal judge revoked his bail and sentenced him to jail awaiting trial. In addition, a new book by Michael Lewis reveals that SBF allegedly contemplated offering Trump $5 billion to not run for reelection. He also met with Republican Senate minority leader Mitch McConnell to contribute “tens of millions” dollars to push anti-Trump candidates. SBF believed Trump was “a threat to democracy” and was willing to pay to stop him. However, FTX crashed and he lost his wealth before he could do it. Despite this, Bankman-Fried was generous in his political donations, contributing to the election campaigns of both Republicans and Democrats.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	8
People	Michael Lewis, Donald Trump, Sam Bankman-Fried, Caroline Ellison, Mitch McConnell
Companies	Donald Trump, United States Government, FTX, Mitch McConnell, Alameda Research
Currencies	None
Securities	None