Venture capitalist Nic Carter told Breitbart News in an exclusive statement on Tuesday that the Biden Justice Department has exposed its agenda as “nakedly political” by not prosecuting former FTX CEO Sam Bankman-Fried, who donated overwhelmingly to Democrats.
The Biden Department of Justice announced last week that they would not prosecute Bankman-Fried for his allegedly unlawful political donations using customer funds nor his alleged bribery of foreign officials.
The announcement was universally condemned by conservatives as well as those in the crypto world, who believe there needs to be a full accounting of the alleged crimes Bankman-Fried committed while leading the now-defunct cryptocurrency exchange FTX.
Nic Carter is a general partner at Castle Island Ventures, a venture capital firm that invests in crypto-financial infrastructure and “restoration of property rights on the internet.” Castle Island Ventures in 2022 raised $250 million for its third fund targeting startups in the monetary network, financial services, and internet architecture spaces, including Web3:
The Castle Island Ventures III fund is the largest fund ever for Castle Island since it was founded in 2018, following its first $30 million fund and then a $50 million second fund that closed in February 2021. Investors in the third fund included endowments, asset managers, family offices and fund of fund groups, according to the announcement post on Medium.
The Castle Island portfolio of early-stage crypto investments has included asset management firm Bitwise and crypto lender BlockFi.
“By refusing to publicly litigate the totality of SBF’s [Sam Bankman-Fried] crimes, the Biden DoJ has yet again exposed their agenda as nakedly political,” Carter explained in a written statement. “There is a clear public interest in a full accounting of Bankman Fried’s misdeeds, especially his campaign finance contributions. SBF favored Democrats in his efforts to influence Washington in the midterms and one must wonder if that played into the decision.”
Indeed, during the height of his influence, Bankman-Fried sought to outpace Democrat megadonor George Soros as the largest donor to the party. He reportedly spent $100 million in stolen customer funds to donate mostly to Democrats and was the second largest donor to Joe Biden’s presidential campaign. (Only former New York Mayor Michael Bloomberg gave more.) One Puck News report found that Bankman-Fried sought advisers and conducted data experiments to help Democrats during the 2024 elections.
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“Serious questions must be asked of this oversight, especially given Barbara Fried’s history as a democrat dark money bundler. The DOJ has time to pursue Jan 6ers to the ends of the earth but is overlooking the biggest campaign finance scandal in a generation,” Carter continued.
Bankman-Fried’s mother, Barbara Fried, helped craft the strategic memo that guided the Democrats’ 2020 election strategy as the leader of the Democrat super PAC Mind the Gap. Fried, a Stanford University professor, argued that Democrats should move to get non-partisan Americans registered to vote as it is “four to ten times more cost-effective” at “netting additional Democratic votes.”
“The public deserves to know precisely who in Washington received SBF’s money, and the DOJ is stymieing the full accounting that must be done,” Carter added.
Sean Moran is a policy reporter for Breitbart News. Follow him on Twitter @SeanMoran3.