A senior FTX executive is reportedly the mysterious donor behind a massive $500,000 donation from the Oregon Democrats.
The Oregon Democratic Party initially told state election officials that the $500,000 donation came from Nevada-focused fintech firm Prime Trust, according to local reports. Behind the donation is FTX engineering director Nishad Singh, who has been the state’s fourth-largest donor to Democrats since November 2020.
State party executive director Brad Martin told Oregon Live in a statement that “based on documents received from our bank in October,” the party “has reason to believe that The donation actually came from Prime Trust LLC.”
Weeks after the Oct. 4 donation, local media questioned why a Las Vegas startup made the After such a large donation, Martin reportedly received a message from Singer who revealed on October 28 that “he had made a personal contribution to the [Oregon Democratic Party] and Prime Trust LLC was not a donor.”
Prime Trust also further clarified to OregonLive on November 1, “This is not a Prime Trust donation to the PAC. It is simply Prime Trust performing the transfer on behalf of the client.”
The party has since revised its national campaign finance disclosures to reflect bona fide donors, according to reports.
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contribute The nature of it may not be surprising to some. Singh has been linked to political donations in the past through the Prime Trust, and Oregon politics has previously been a focus of FTX.
April Politico report finds Prime Trust donates $14 million to Protect Our Future PAC backed by FTX CEO Sam Bankman-Fried, $1 million of which comes from Singh FTX confirmed that the rest came from Bankman-Fried.
At the time, FTX declined to comment on why the funds were being channeled through Prime Trust, only a Prime Trust spokesperson who said this type of transaction was “common.”
Bankman-Fried’s “Protect Our Future” super PAC also allegedly donated $8 million to $10 million to Carrick Flynn’s campaign. Novices and family friends run in the newly built U.S. House of Representatives district outside Portland.
The Prime Trust and Singh also played a major role in these donations, according to the NGO Open Secrets.
Cointelegraph reached out to Oregon Democrats and Brad Martin, but No response has been received as of press time.