How Sam Bankman-Fried’s ties with the Clintons helped him dupe investors?
Sam Bankman-Fried cultivated ties with A-list celebrities, politicians and investors alike — but one power couple in particular was key to boosting his profile in influential and moneyed circles.
Bill Clinton was paid north of $250,000 when he spoke at the disgraced FTX CEO’s Crypto Bahamas Conference in April, sources told The Post. At the over-the-top tropical shindig, the ex-US president along with former UK Prime Minister Tony Blair were famously photographed onstage next to Bankman-Fried, who appeared wearing shorts and a T-shirt.
Shortly thereafter, Bill and Hillary Clinton invited the 30-year-old Bankman-Fried — known as “SBF” in crypto circles — to speak at their annual Clinton Global Initiative in New York — an effective endorsement of the former FTX CEO that played a pivotal role in elevating his reputation among politicians and deep-pocketed investors alike, insiders told The Post.
On the Clinton Foundation website, Bankman-Fried’s headshot is placed alongside the likes of Matt Damon, Gavin Newson, Melinda French Gates and Larry Fink as a speaker at the September shindig. He’s also mentioned as a speaker in a press release leading up to the event.
Bill Clinton received hundreds of thousands of dollars to speak at Sam Bankman-Fried’s conference.Getty Images
Asked for a comment about the event, a spokesperson for the Clintons replied, “SBF was never on stage at CGI,” declining to comment further. Over the past year, Bankman-Fried — who lived full-time in the Bahamas before being extradited to the United States in December — mostly spoke at conferences virtually.
People close to the Clintons say the power couple’s relationship with the scruffy 30-year-old cryptocurrency executive follows a familiar script: buzzy business leaders gain credibility by latching on to the Clintons — and in return, the Clintons get a check.
“The Clintons’ involvement gave SBF some air cover,” one former confidante told The Post.
Sam Bankman-Fried was listed as a speaker at the Clinton Global Initiative in September.
For those who bought into FTX, it has been a painful ride, with the top 50 of the bankrupt firm’s 1 million creditors owed $3.1 billion, according to court papers. This week, FTX’s new management said it aims to recoup tens of millions of dollars in political donations that Bankman-Fried and other FTX executives had made.
In response, many beneficiaries of
Bankman-Fried’s money have handed everything back. Political action committees like the Democrats’ Senate Majority PAC vowed to return millions. Beto O’Rourke’s Texas gubernatorial campaign returned $1 million, while Sen. Dick Durbin (D-Ill) and incoming Speaker of the House Hakeem Jeffries (D-NY) gave their FTX donations to charity.