Sam Bankman-Fried, founder of the collapsed crypto exchange FTX, (CRYPTO:FTT) and his family are embroiled in a $100 million scandal involving alleged misuse of company funds for political contributions.

Emails reviewed by The Wall Street Journal reveal that SBF’s family, including his father Joe Bankman, mother Barbara Fried, and brother Gabriel Bankman-Fried, orchestrated significant donations aimed at influencing the 2022 elections.

This misuse of funds has sparked legal proceedings, with implications under campaign finance laws for Joe Bankman's alleged involvement in an illegal straw-donor scheme.

Former FTX executive Ryan Salame's recent sentencing to 7.5 years in prison for related charges underscores the severity of legal repercussions surrounding the scandal, further deepening the legal woes facing FTX and its associates.