Crypto Lobbyist Charged with Campaign Finance Violations

Michelle Bond, a former head of a cryptocurrency industry trade group, has been charged with campaign finance fraud, marking a significant development in the ongoing legal repercussions following the collapse of the FTX crypto exchange. Federal prosecutors in New York allege that Bond, 45, violated campaign finance laws during her unsuccessful 2022 congressional campaign as a Republican in Long Island. The indictment, filed in the Southern District of New York, claims that Bond received a "sham $400,000 payment" from FTX, which was reportedly orchestrated by her boyfriend, Ryan Salame, an executive at the now-defunct exchange. This charge comes nearly two years after FTX filed for bankruptcy, a situation that has led to multiple legal actions against individuals associated with the company. Bond was a prominent supporter of FTX and its founder, Sam Bankman-Fried, who was convicted of fraud in November and sentenced to 25 years in prison. Her connections to FTX deepened after her relationship with Salame, who played a crucial role in her congressional campaign by recruiting donors from the crypto sector and investing significantly in a supportive super PAC. As the legal fallout from FTX continues to unfold, Bond's case highlights the intricate ties between cryptocurrency lobbying and political financing, raising questions about the regulatory landscape surrounding campaign contributions in the rapidly evolving digital currency sector.