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FTX bankruptcy attorneys sent out private letters last week to politicians and PACs who received donations from the ...

FTX specifically mentions Stabenow’s strategy of donating the funds. Charities receiving donations could be targeted for recovery.

FTX co-founder Sam Bankman-Fried was indicted earlier this month on eight federal counts, including improperly using customer deposits to fund political donations. He donated widely to politicians, mostly Democrats. They included Michigan lawmakers Senator Debbie Stabenow, Representative Haley Stevens, and Congressional candidate Carl Marlinga.

Lawmakers from both parties are washing their hands of donations from disgraced crypto king Sam Bankman-Fried amid his arrest in the Bahamas on Tuesday.

Samuel Bankman-Fried, owner of bankrupt firm FTX, met with lawmakers regularly. Critics say bill he pushed would kill decentralized finance

Cameron Baker, founder and owner of Cryptic Farms, which has mining sites in Malvern, Greenbrier, Russellville and Mountain Pine, concedes that the FTX scandal devastated public confidence and generated calls for more regulation, including a declaration last week by Arkansas Sen. John Boozman.

However its defined — commodity or currency or something else — cryptocurrency is ripe for regulation.

The head of the Commodities Futures Trading Commission disputes the idea that his agency would have a "light touch" with digital assets or encroach on the SEC.

"I donated to both parties. I donated about the same amount to both parties," Bankman-Fried disclosed in a recent interview.