FTX executive revealed as big donor to Oregon Democrats after misidentification

FTX engineering director reportedly donates $500,000 to the Democratic Party in the US state of Oregon.

A senior FTX executive has been revealed as the mysterious donor behind a massive $500,000 contribution to the Democratic Party in the US state of Oregon.

According to local reports, Democrats in Oregon initially told state election officials that the $500,000 donation came from Prime Trust, a crypto-focused fintech in Nevada.

However, on November 1, the party director revealed that the true source of the donation was FTX CTO Nishad Singh, who is the state's fourth largest Democratic Party donor since November 2020.

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Apparently, there was initial confusion over who was behind the half-million dollar donation.

State Party Executive Director Brad Martin told OregonLive in a statement that "based on documentation received from our bank" in October, the party "reasonably believes this contribution actually came from Prime. Trust LLC."

A few weeks after the October 4 donation, and after local media questioned why a Las Vegas startup had made such a contribution, Martin reportedly received a communication from Singh on October 28 revealing that "he had made a personal contribution to the (Oregon Democratic Party) and that Prime Trust LLC was not the donor."

A Prime Trust spokesperson also clarified on November 1 to OregonLive that "it is not Prime Trust contributing money to the PAC. It is simply Prime Trust making the transfer on behalf of a customer."

The party has since changed its campaign finance disclosure to reflect the true donor, according to reports.

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The nature of the contribution may not surprise some. Singh has been linked to political donations through Prime Trust in the past, while Oregon politics has previously been the focus of FTX's attention.

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