Rep. Kevin Hern, R-Okla., is the latest member of Congress to donate political funds he received from an FTX executive, distancing himself after the troubled crypto exchange filed for bankruptcy protection.
FTX Digital Markets Co-CEO Ryan Salame gave $5,000 to Hern Victory Fund, a joint fundraising committee with ties to Hern’s campaign, the Help Elect Republicans Now leadership PAC and the National Republican Congressional Committee.
“Rep. Hern has donated the money from FTX,” Hern’s campaign said. It did not specify which organization received Hern’s donation.
FTX filed for bankruptcy protection last week after a run on its utility token. The firm was once valued at $32 billion.
Salame was a major political donor during the 2022 midterm cycle. He spent millions to support more than a dozen Republicans with his American Dream Federal Action super PAC. Salame also gave individual contributions to many lawmakers and candidates.
Hern is the second lawmaker to distance himself from FTX executives. Rep. Jesus “Chuy” Garcia, D-Ill., donated a $2,900 contribution from former FTX CEO Sam Bankman-Fried to a Chicago charity last week.