Democrats’ Senate Majority PAC Plans to Return $3 Million in Donations from Former FTX Executives

The Senate Majority PAC plans to return contributions from SBF and FTX’s ex-head of engineering Nishad Singh. The super PAC, which spent more than $160 million supporting Democrats in their bids for Senate seats, received $2 million from Singh and $1 million from SBF during the 2022 election cycle, according to Federal Election Commission records.

"Following the serious allegations against FTX, Senate Majority PAC previously set aside the contribution amounts from SBF and Nishad Singh with the intention of returning the funds once we receive proper direction from federal law enforcement officials based on their legal proceedings." a PAC spokeswoman told CNBC on Tuesday.