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Nishad Singh’s plea is the latest domino to fall in the saga of Sam Bankman-Fried, a former cryptocurrency wunderkind and political mega donor now accused by federal prosecutors of perpetrating one of the largest financial crimes in U.S. history.
U.S. Rep. Becca Balint and U.S. Sen. Peter Welch, both Vermont Democrats elected in November, received donations from former FTX CEO Sam Bankman-Fried, who has since been charged with campaign finance fraud and other crimes.
State Sen. Becca Balint and U.S. Rep. Peter Welch, in their respective bids for the U.S. House and Senate, were among the candidates who received contributions from the cryptocurrency mogul. Bankman-Fried’s top lieutenant also bankrolled a million-dollar advertising blitz in support of Balint.
Stocks fell sharply as unease flared in far-ranging corners of financial markets over election uncertainty, a crypto plunge and sour earnings reports.
The tension between Sam Bankman-Fried and Changpeng Zhao has been long-brewing. Their merger will reshape the more than $1-trillion crypto industry.