Beto O'Rourke returned $1 million check from FTX's Sam Bankman-Fried

[LetMyPeopleVote]

This was the correct move by Beto

Link to tweet

https://www.texastribune.org/2022/11/29/beto-orourke-sam-bankman-fried-ftx/?utm_campaign=trib-social&utm_content=1669729487&utm_medium=social&utm_source=twitter

Beto O’Rourke returned a $1 million donation from embattled cryptocurrency leader Sam Bankman-Fried four days before Election Day, his campaign told The Texas Tribune this week.

Bankman-Fried founded FTX, a cryptocurrency exchange that was valued at $32 billion before collapsing abruptly in a matter of days earlier this month, setting off an industrywide panic. Many customers of the popular crypto platform may lose all or part of the money they invested. O’Rourke’s team said they returned the million-dollar donation a week before FTX filed for bankruptcy and Bankman-Fried stepped down as its chief executive, but that the decision was made prior to Nov. 4 and took time to execute.

Chris Evans, a spokesperson for O’Rourke’s campaign, said the reimbursement of one of the largest checks to O’Rourke’s gubernatorial campaign was unrelated to the scandals linked to Bankman-Fried’s now flailing cryptocurrency exchange.

He said the money, which was received on Oct. 11, was returned because the donation was unsolicited. Unlike other large donations, O’Rourke had not talked with Bankman-Fried prior to the donation, and the large sum took the campaign by surprise, Evans said.

“This contribution was unsolicited and the campaign’s upcoming [Texas Ethics Commission] report will show that it was returned back on November 4, prior to the news stories that would later come out about the donor,” he said.

[CaliforniaPeggy]

1. That's who Beto is: an ethical, intelligent, compassionate man. What might have been...

If he were now Governor-elect.

[jimfields33]

2. Hopefully others follow.

[Lonestarblue]

6. Beto would definitely be a better governor, but he would have been stymied by the extremist

Republican legislature. Republicans have elected more right-wing nuts than ever to the legislature. They have a new session starting in January. Heaven only knows what kind of harm they will cause this session. I fear that their attack on and persecution of trans kids and their families will be codified into law. Some families have already moved out of the state to protect their kids. It will get worse.

The foster care system has long been a disgrace, but Republicans refuse to do anything about it. I expect that system to get even worse as more women are forced to have children they cannot afford and cannot support. The maternal death rate is likely to increase even more as health clinics are forced to close and poor women have to choose home birth because they cannot afford a hospital birth.

Their attacks on education will continue with more and more funding for religious and for-profit schools. The extremist Christian crisis pregnancy centers will likely get lots more money for doing nothing good while budgets will be cut for actual women’s healthcare. Their goal is to drive Planned Parenthood and any health provider who ever administered abortions out of the state completely. They don’t care that the poor women who have no other healthcare because they refuse to expand Medicaid will then have no healthcare at all, especially in many of the poor rural communities where hospitals and medical practices are rare.

[northoftheborder]

9. Depressing but true

[Warpy]

11. It's got to be something in the water

NM and CO aren't nearly as nuts as bordering states are.

Rural healthcare deserts are another matter, agricultural mechanization has depopulated huge areas of a lot of countries, our own included, which is why the EC is so ridiculously skewed in favor of dirt instead of people. It has also become a real problem in a lot of western Europe. When the people are mechanized out, the services go with them. Expanding Medicaid won't fix that, it will just mean they can pay for the care they need when they make it to a city alive. PP didn't fix that, either, they were also in cities.

[dalton99a]

3. +1

[pnwmom]

4. How did this even happen? What about the $2,000 limit to campaigns from individuals? nt

[blogslug]

7. That's a Federal limit I think?

According to this there are no limits on political donations to candidates for TX state office except judges:

https://www.ethics.state.tx.us/resources/FAQs/2020election_faqs.php#Q1

What are the contribution limits in Texas?

Unless you are contributing to a judge, judicial candidate, or specific-purpose political committee supporting or opposing a judge or judicial candidate, there are no contribution limits under state law. You can find information about the judicial contribution and expenditure limits in the Judicial Campaign Finance Guide. You should check with your local filing authority (city, county, school district, or other type of political subdivision) to find out whether there are any local restrictions.

I had no idea and I'm a Texan

[pnwmom]

8. Wow. Thanks. Now I'm going to look at my state.nt

[In It to Win It]

5. Good on him

[TygrBright]

10. That's how you do it. Well done, Beto. n/t