Bankman-Fried gave $1 million to Senate Republicans 15 days before FTX collapsed

The overnight collapse of cryptocurrency exchange FTX has caused untold confusion in the crypto space and in the business community, which is still trying to figure out how a company valued at $32 billion in February crumbled in a matter of days.

US regulators – the Department of Justice, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) – have opened investigations, as have authorities in the Bahamas, where FTX founder Sam Bankman-Fried lived and where the cryptocurrency exchange was based.

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