Former FTX Director of Engineering Nishad Singh donated millions to Democrats and affiliated organizations in the 2022 midterm election cycle, records show.
Singh has donated $13 million to Democrats and affiliated organizations since the 2020 presidential election, according to Federal Election Commission (FEC) records.
In 2020, he donated $1 million to pro-Biden Super PAC Future Forward USA, CNBC reported. He also spent over $8 million on Democratic campaigns in the 2022 election cycle, according to nonpartisan campaign finance watchdog Open Secrets.
He gave $2 million to Senate Majority Super PAC, an organization that backed Democratic senate campaigns. Singh was the 34th largest donor overall in the midterm elections, Open Secrets data shows.
NEW:@SBF_FTX isn’t the only former @FTX_Official exec who became a major financier for Democrats.
His head of engineering and former roommate Nishad Singh, practically overnight after joining FTX, became one of the party’s most reliable political donors.https://t.co/gLv4JKjj3A
— Brian Schwartz (@schwartzbCNBC) December 6, 2022
Singh was known as a “Bankman-Fried guy” and allegedly made many of the same contributions as the former crypto billionaire, a source told CNBC. Bankman-Fried gave $5 million to Future Forward in the same month as Singh, FEC records show.
Singh also gave $1 million to Mind Your Gap, a super-PAC founded by Sam Bankman-Fried’s mother, Barbara Fried. It was the largest contribution the PAC has ever received, according to CNBC. (RELATED: Here’s Why Disgraced Crypto Mogul Sam Bankman-Fried Hasn’t Been Arrested)
He was the Director of Engineering at FTX before he was fired as the company collapsed. Singh was a roommate of Sam Bankman-Fried and previously worked for FTX’s sister trading firm, Alameda Research, CNBC added.
Alameda loaned $543 million to Singh, the firm disclosed in bankruptcy filings, according to crypto site CoinDesk. The firm also loaned $1 billion to Bankman-Fried and $2.3 billion to FTX legal subsidiaries, CoinDesk added.
Bankman-Fried donated $39 million to Democrats in the 2022 midterm cycle, making him the party’s second largest donor behind George Soros, who donated $128 million to Democrats, OpenSecrets data shows.
His wealth peaked at $26.5. billion before his crypto empire collapsed, Forbes Magazine estimated.
