US judge approves postponement of seizure of PAC political donations from FTX

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The Golden Finance reported that Damian Williams, the US prosecutor, submitted a document to the US District Court for the Southern District of New York on July 26, requesting more time to evaluate the ‘fund confiscation’ proposed by Sam Bankman-Fried (SBF), the former CEO of FTX, to several Political Action Committees (PAC). Judge Lewis Kaplan approved the prosecutor’s request to extend the deadline for PAC’s third-party request from July 26 to September 13. It is reported that before FTX collapsed, Bankman-Fried directly donated about 40 million U.S. dollars to political candidates and PACs in 2022. Judge Williams said his office is continuing to discuss with Bankman-Fried’s lawyers the issue of donating funds to five PACs in 2022, primarily following Democratic committees including the House Majority PAC, the Senate Majority PAC, FF PAC, FF USA Action, EMILYs List, and GMI PAC.

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