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☆ House speaker nominee Tom Emmer is no friend of the U.S. Chamber of Commerce
▼ + stars: | 2023-10-24 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

U.S. Representative Tom Emmer (R-MN) arrives for a House Republican conference meeting to choose a nominee in the race for House Speaker at the U.S. Capitol in Washington, October 24, 2023. Rep. Tom Emmer is the latest Republican nominee for speaker of the House, and that could mean a fresh headache for the nation's largest business lobbying group. Emmer, like former Speaker Kevin McCarthy, is one of the U.S. Chamber of Commerce's biggest critics among House Republicans. A lack of engagement with House Republican leadership, particularly the speaker, could mean that the Chamber will have little impact on future legislation. The Chamber has continued to support Republicans despite the criticism the group has received from House Republican leadership.

Persons: Tom Emmer, Kevin McCarthy, Emmer, Donald Trump, Trump, McCarthy, Patrick McHenry, who's, Mike Gallagher, Nicole Malliotakis Organizations: Republican, U.S, Capitol, U.S . Chamber, Commerce's, House Republicans, Republican House, House Republican, Chamber, Commerce, Twitter, National Republican Congressional Committee, Republicans, Republican Party, Rep, Federal, Commission, Chamber of Commerce Locations: Washington, China, R, OpenSecrets

☆ Sam Bankman-Fried, FTX allies secretly poured $50 million into 'dark money' groups, evidence shows
▼ + stars: | 2023-10-20 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

The documents give the first full look at Bankman-Fried and his allies' contributions to so-called "dark money" organizations. While Bankman-Fried quietly funded more conservative dark money groups behind the scenes, he publicly cultivated a profile that was clearly aligned with the Democratic Party. Prosecutors on Monday filed into evidence a list of organizations that received money from Bankman-Fried and those close to him. The documents show that Bankman-Fried was clearly the lead "dark money" donor among the listed former FTX executives and the company itself. The list that prosecutors made public this week shows Bankman-Fried's "dark money" donations were closer to $47 million during the 2022 cycle alone.

Persons: Sam Bankman, Mitch McConnell, Chuck Schumer, Nishad Singh, FTX's, Fried, Barbara Fried, FTX, Ryan Salame, Salame, Caroline Ellison, Ellison Organizations: FTX, Democratic, Republican, Democratic Party, Washington , D.C, Prosecutors, Alameda Research, Bankman, Federal, Commission Locations: Manhattan, New York City, Ky, Washington ,, Bankman, Alameda, Washington

☆ Asymmetric pay policy keeps US prone to shutdown
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jonathan Ernst Acquire Licensing RightsNEW YORK, Sept 29 (Reuters Breakingviews) - U.S. legislators could use more skin in the shutdown game. Lawmakers will collect their salaries during the halt, however long it lasts, but nearly 1.5 million public workers will go without wages. The average salary for a federal employee was already 24% lower than the private-sector equivalent last year, wider than 2021’s gap, according to the Federal Salary Council. The $174,000 annual salaries paid to each of the 535 U.S. legislators, meantime, will be unaffected. Their median net worth is just over $1 million, according to the nonprofit research outfit OpenSecrets, so the paychecks are important to most of them.

Persons: Kevin McCarthy, Jonathan Ernst, Ben Winck, Jeffrey Goldfarb, Sharon Lam Organizations: U.S, Capitol, REUTERS, Reuters, Republican Party, Federal Salary Council, Thomson Locations: Washington , U.S

Crypto companies have been expanding in Washington to combat growing regulatory scrutiny, especially from the SEC which says the industry has been flouting its rules. "Everybody wants to make sure that what they're doing isn't going to be erased by the government," said Kara Calvert, head of U.S. policy at Coinbase, referring to the crypto industry. A House vote before year-end is possible, but the outlook is dimmer in the Senate, where industry-friendly crypto bills have failed to gain traction. And Senate Banking Committee Chair Sherrod Brown of Ohio has shown little interest in making it a priority to advance the House bills. "The last thing we need is for the crypto industry to write their own rulebook — too many Ohioans have been burned by fraud and scams," said Brown in a statement to Reuters.

Persons: Dado Ruvic, Katherine Dowling, Coinbase, OpenSecrets, Brian Armstrong, Kara Calvert, Mark Hays, Sherrod Brown of, Brown, Ian Katz, Hannah Lang, Michelle Price, Richard Chang Organizations: REUTERS, Coinbase, Financial, National Defense, U.S . Securities, Exchange Commission, SEC, Binance, Reuters, OpenSea, Financial Reform, Senate, Capital Alpha Partners, Thomson Locations: Washington, NFTs, Sherrod Brown of Ohio, Ohio

☆ Mum's the bad word: Most big Menendez donors won't say if they will keep backing New Jersey senator
▼ + stars: | 2023-09-26 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

Several top party donors have privately told Menendez's campaign that he should resign, according to a longtime past supporter who spoke with CNBC. The PAC so far has raised approximately $300,000 for Menendez's 2024 reelection campaign, according to its president, Dr. Ben Chouake. NorPAC has donated a combined $15,500 toward the Menendez campaign and separate leadership PAC since 2017, according to OpenSecrets data. Prudential Financial , the large insurer, has donated $35,000 through their PAC toward Menendez's political operation since 2017, according to OpenSecrets. A Prudential spokeswoman declined to comment when asked whether the company's PAC would continue to support Menendez following his indictment.

Persons: Robert Menendez, Nadine Menendez, Sen, Bob Menendez, Menendez, NorPAC, Jon Kaiden, Kaiden, Cory Booker of, Ben Chouake, Chouake, We've, Couake, Goldman Sachs, General Atomics, Greenberg Traurig Organizations: New, New Jersey Democrat, CNBC, Baleon Capital, Menendez, Fund, Senate Foreign Relations, Banking, Finance, Democratic, Senate, Menendez's, PAC, Pfizer, Prudential Financial, Prudential, company's PAC, FEC, Comcast, Merck, Holtec Locations: Jersey, Union City , New Jersey, U.S, New Jersey, Israel, Manhattan, Cory Booker of New Jersey, OpenSecrets, Jerusalem

☆ Pro-Tim Scott super PAC picks billionaire tech executive to be finance chair
▼ + stars: | 2023-09-26 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

Senator and Republican presidential candidate Tim Scott, R-S.C., speaks at Erick Erickson's conservative political conference The Gathering in Atlanta on Aug. 18, 2023. A super PAC supporting Republican Sen. Tim Scott's campaign for president has selected a billionaire tech executive to be its finance chair, according to an announcement by the group that was first reviewed by CNBC. The super PAC, titled Trust In The Mission PAC, announced on Tuesday that billionaire David Steward will be its finance chair. Scott currently has 2% support in the Republican primary, according to a Morning Consult tracker. Eric Greitens' campaign and $100,000 to a super PAC that backed former Florida Gov.

Persons: Tim Scott, Erick Erickson's, Republican Sen, Tim Scott's, David Steward, Steward, Scott, Donald Trump, Eric Greitens, Jeb Bush, Former Republican Sen, Cory Gardner, David Organizations: Republican, CNBC, Mission PAC, Scott, Forbes, Commission, Missouri Gov, Florida Gov, TIM PAC, PAC, Former Republican Locations: Atlanta, Florida, Carolina, America, United States

☆ Fetterman plans to return donation tied to Menendez 'in envelopes stuffed with $100 bills,' spokesman says
▼ + stars: | 2023-09-25 | by ( Brian Schwartz | ) www.cnbc.com time to read: +1 min

Sen. John Fetterman, D-Pa., arrives for Ukraine President Volodymyr Zelenskyy's meeting with U.S. senators in the Capitol, Sept. 21, 2023. Sen. John Fetterman, D-Pa., will return $5,000 in contributions from a political action committee tied to Sen. Bob Menendez "in envelopes stuffed with $100 bills" because of the New Jersey Democrat's indictment on bribery charges, Fetterman's spokesman said. Fetterman's campaign received $5,000 from Menendez's leadership PAC during the 2022 election cycle, according to the nonpartisan site OpenSecrets. The Pennsylvania senator's spokesman told NBC News, "We are in the process of returning the money in envelopes stuffed with $100 bills." Fetterman is the only Democratic senator to call on Menendez to resign after he and his wife, Nadine Menendez, were charged with three bribery-related counts in federal court in New York.

Persons: Sen, John Fetterman, Volodymyr Zelenskyy's, Bob Menendez, Fetterman's, Menendez, Nadine Menendez Organizations: NBC, Democratic, Prosecutors, Menendez's Locations: Jersey, Pennsylvania, New York

☆ Former Bridgewater CEO Dave McCormick would get big money backing for Pennsylvania U.S. Senate run
▼ + stars: | 2023-09-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Dave McCormick, Republican U.S. Senate candidate from Pennsylvania , greets supporters during a campaign event with Sen. Ted Cruz, R-Texas, at Lehigh Valley Sporting Clays in Coplay, Pa., on Tuesday, January 25, 2022. The last time McCormick ran for Senate, his chief rival in the Republican primary was TV host Dr. Mehment Oz. Christian Ferry, who previously worked for Republican Sen. Lindsey Graham and late GOP Sen. John McCain, said, "Every cycle these totals continue to go up." McCormick has reportedly been promised the support of the Senate Leadership Fund, a super PAC aligned with Republican Senate Minority Leader Mitch McConnell of Kentucky. Burch paid approximately $16 million for the estate, according to Newsday.

Persons: Dave McCormick, Sen, Ted Cruz, Dave McCormick's, Tory Burch, McCormick, Goldman Sachs, Lloyd Blankfein, Steven Mnuchin, Gary Cohn, David Solomon, Bob Steel, Perella Weinberg, Mnuchin, Donald Trump, Cohn, Bob Casey, Paul Singer, Steve Schwarzman, Burch, Mnuchin Cohn, Singer, Schwarzman, Steel, Dave, agains Casey, Dina Powell McCormick, Dina, Democrat John Fetterman, Mehment Oz, OpenSecrets . Oz, Donald Trump . Oz, Casey, Oz, Alex Conant, Republican Sen, Marco Rubio, It's, Lindsey Graham, GOP Sen, John McCain, Mitch McConnell of Organizations: Republican U.S, Lehigh Valley, U.S, Senate, Bridgewater Associates, Democratic, Elliot Investment Management, Blackstone, CNBC, Steel, NBC News, Associated Press, McCormick, Keystone, Bush, Treasury, Pennsylvania Senate, Democrat, Republican, GOP, PAC, Bridgewater, Pennsylvania Democratic Party, Fund, Prosperity, that's, Koch Industries, Hamptons, Newsday Locations: Republican, Pennsylvania, Texas, Coplay, Pa, Connecticut, Pittsburgh, Trump, OpenSecrets ., Mitch McConnell of Kentucky, Southampton, Long, , New York, Palm Beach

A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 19 (Reuters) - Coinbase (COIN.O), the largest U.S. cryptocurrency exchange, is stepping up its grassroots advocacy campaign in a bid to advance legislation that will provide regulatory clarity for the industry, the company said. Coinbase estimates there are 52 million crypto owners in the U.S. Coinbase last month started a non-profit, Stand With Crypto, to advance pro-crypto policy. That group has recently held events in Ohio, Nevada, Georgia and Montana that have "tested the capacity to organize crypto advocates,” Coinbase said in a blog.

Persons: Dado Ruvic, Coinbase, “ Crypto, Kara Calvert, ” Coinbase, Hannah Lang, Michelle Price, Timothy Gardner Organizations: REUTERS, U.S . House, Representatives, Capitol, U.S, U.S . Securities, Exchange Commission, Thomson Locations: U.S, Washington ,, Washington, Ohio , Nevada , Georgia, Montana

☆ Dark money donations to Virginia Republicans outpace Democrats 6 to 1 in fight for control of the state legislature
▼ + stars: | 2023-09-16 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Virginia has seen nearly $1.7 million in outside spending for candidates in key 2023 races. All 140 seats in the Virginia legislature are up for grabs in districts that were recently redrawn. All 140 seats in the Virginia legislature — 100 in the House of Delegates and 40 in the state Senate — are up for grabs in November. But Democrats, who are seeking to maintain Senate control and win back the House, are competing hard for key seats in vote-rich metropolitan Richmond, Hampton Roads, and Northern Virginia. Youngkin has so far been unsuccessful in moving a 15-week abortion ban through the legislature, blunted by Democrats in the Senate.

Persons: Virginia, spender, Koch, Elizabeth Shimek, Glenn Youngkin, Youngkin, Roe, Wade Organizations: Service, Virginia Center, Investigative Journalism, WHRO, Virginia Department, Prosperity, Republicans —, Democratic, GOP, Gov, Republican, Republicans Locations: Virginia, Wall, Silicon, Richmond, Hampton Roads, Northern Virginia

☆ Before Elon Musk, Twitter rarely lobbied against state laws. Now X is suing California over one
▼ + stars: | 2023-09-13 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Elon Musk, chief executive officer of SpaceX and Tesla and owner of Twitter, at the Viva Technology conference in Paris, France, June 16, 2023. Musk took control of X Corp., known at the time as Twitter, in October in a deal worth over $40 billion. This year, however, X has spent more than $500,000 combined on federal and state lobbying, according to data from the nonpartisan OpenSecrets. They spent more than $80,000 on lobbying California state lawmakers since 2021, with a partial focus on Gabriel's bill, according to the public records. A search through the federal court database shows the social media company was never a plaintiff challenging state laws in the years prior to the recent lawsuit against California.

Persons: Elon Musk, Elon, Musk, Jesse Gabriel, Gabriel, Gavin Newsom, X's, X Organizations: SpaceX, Tesla, Twitter, Viva Technology, X Corp, Democratic, CNBC, Gov, Big Tech Locations: Paris, France, California

☆ Giuliani loses support of billionaires Langone, Cooperman: 'I wouldn't give him a nickel'
▼ + stars: | 2023-08-31 | by ( Brian Schwartz | ) www.cnbc.com time to read: +8 min

Langone contributed $4,600 to Giuliani's 2008 campaign for president, according to FEC records. This executive donated $2,300 to Giuliani's 2008 run for president, according to FEC records. Goodman did not say who is contributing to help Giuliani pay for his legal fees or how much those entities have raised. "I probably will," said Catsimatidis, who owns New York radio station WABC that employs Rudy Giuliani and his son. "I think people should help Rudy Giuliani.

Persons: Rudy Giuliani, Donald Trump, Giuliani, Rudy, I'm, Brian France, Ken Langone, Forbes, Langone, Cooperman, It's, Leon Cooperman, Trump, he's, Ted Goodman, Goodman, Joe Biden swiped, Andrew Giuliani, John Catsimatidis, Catsimatidis Organizations: New York City, NASCAR, New, FEC, Trump, Billionaire, Commission, CNBC, titans, Former New York City, Wall Street, Washington D.C, Giuliani, Twitter, Giuliani Defense, New York, WABC, New York Republican Locations: Georgia, Washington , U.S, France, New York, New York City, Russian, York City, Bedminster , New Jersey

☆ Trump has yet to help his Georgia co-defendants with their legal bills, a risky test of their loyalty
▼ + stars: | 2023-08-22 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Republican presidential candidate and former U.S. President Donald Trump speaks as he campaigns at the Iowa State Fair in Des Moines, Iowa, U.S. August 12, 2023. Trump has a history of paying for at least some of his allies' legal counsel. His entire political network, including his joint fundraising committees, spent over $70 million combined from the start of 2020 through the end of 2022 on legal fees, according to a report by OpenSecrets. People familiar with the big bills in the Georgia case told CNBC that many caught up in the case are not expecting any help from the Trump political network. Trump co-defendants can expect to pay their lawyers "seven figures if it's a dollar," meaning at least $1 million, said Randy Zelin, a veteran attorney who specializes in white-collar crimes.

Persons: Donald Trump, Jenna Ellis, Ellis, District Attorney Fani Willis, Trump, Michael Glassner, Randy Zelin, Zelin Organizations: Fair, Trump, Twitter, District Attorney, OpenSecrets, CNBC, Patriot Legal Defense Fund Locations: Iowa, Des Moines , Iowa, U.S, Georgia, skyrocket, Fulton County, Trump

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

☆ Trump stiffed his alleged co-conspirators, whose false claims brought in $250 million
▼ + stars: | 2023-08-15 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

But the Trump campaign and their affiliated committees ultimately did not honor that pledge, according to campaign finance records. Over more than two months, Giuliani served as the public face of Trump's election challenges, which ultimately failed. The money came in response to countless fundraising appeals that claimed it was needed to fund Trump's election challenges in court. Chesebro, for his part, told the House committee that the work he did for the Trump team was pro bono. But not a penny more from team Trump for their services.

Persons: Rudy Giuliani, Donald Trump, Carlo Allegri, Donald Trump's, Trump, Giuliani, Timothy Parlatore, Bernard Kerik, Jack Smith's, Parlatore, Bob Costello, Kerik, stiffed Giuliani, Sidney Powell, Jonathan Ernst, Kenneth Chesebro, John Eastman, Eastman, Powell, Chesebro, Matthew Morgan, Jim Bourg, Reuters Morgan, Eastman didn't, Jan, Morgan, Justin Clark, Clark, we're Organizations: New York, Republican, of Police, Reuters, Trump, New, CNBC, ", Capitol, Save, OpenSecrets, PAC, U.S, Republican National Committee, Commission, Giuliani, Georgia RICO, New York City, Congress, Federal, FEC, Eastman Locations: Statesville , North Carolina, U.S, New York, Georgia, Save America, Washington, Washington , U.S

☆ Sam Bankman-Fried donated millions to 'weed out anti-crypto' politicians, new evidence says
▼ + stars: | 2023-08-15 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Prosecutors say Sam Bankman-Fried donated $100 million to politicians using FTX funds. Messages from Ryan Salame quoted in a court filing say SBF wanted "to weed out anti-crypto" politicians. Although prosecutors have put that number as high as $100 million because they say Bankman-Fried funneled millions more through FTX executives. Prosecutors' evidence includes messages from Ryan Salame, the former co-CEO of FTX's Bahamian affiliate company, who prosecutors say is "a co-conspirator in the defendant's illegal campaign finance scheme." Salame's message added it was likely Bankman-Fried would "route money through me to weed out that republican side," according to the filing.

Persons: Sam Bankman, Fried, Ryan Salame, SBF, George Soros, Mike Bloomberg, hasn't, Salame Organizations: Morning, Washington D.C, Prosecutors, Republicans, FTX's Bahamian, Republican Locations: Washington, The Bahamas

☆ Tucker Carlson could see Rebekah Mercer, Peter Thiel invest in his media company
▼ + stars: | 2023-08-08 | by ( Brian Schwartz | ) www.cnbc.com time to read: +5 min

Former Fox News host Tucker Carlson could see two of the wealthiest GOP business megadonors, Rebekah Mercer and Peter Thiel, invest in his new media company, according to people familiar with the matter. Mercer has spoken with Carlson since his April departure from Fox News about possibly investing in his as yet unnamed media company, sources told CNBC. Thiel has hinted to allies that he could invest in the venture after hearing from Carlson's side, these people added. Shortly after leaving Fox, Carlson began hosting an episodic show on X, the platform formerly known as Twitter. Rebekah Mercer and Peter Thiel have for years been separate investors in a diverse array of conservative startups.

Persons: Tucker Carlson, megadonors, Rebekah Mercer, Peter Thiel, Mercer, Carlson, Thiel, Neil Patel, Fox, Devon Archer, Joe Biden's, Hunter Biden, Archer, Hunter, Andrew Breitbart, He's, Donald Trump, Robert Mercer, haven't Organizations: Fox News, GOP, CNBC, Mercer, 1789, Fox, Dominion Voting Systems, Twitter, Wall Street Journal, Republican, Breitbart News, Wall Street, Trump, Summit Locations: Iowa

☆ Can Trump use political donations to pay for legal defense?
▼ + stars: | 2023-08-01 | by ( Andrew Goudsward | ) www.reuters.com time to read: +4 min

Leadership PACs, such as Trump's Save America committee, raise money from donors to support political campaigns in the United States. The committees are set up and controlled by lawmakers or other political leaders, but are not connected to the candidate’s campaign. CAN LEADERSHIP PACS BE USED TO PAY LEGAL FEES? However, leadership PACs such as Save America also are not allowed to directly support their own candidate's campaign. A Trump spokesman said the legal payments were made in "accordance with the law and upon the advice of counsel."

Persons: Donald Trump, Amr Alfiky, Donald Trump's, Trump, Democrat Joe Biden, Richard Briffault, Andrew Goudsward, Jason Lange, David Bario, Matthew Lewis, Gerry Doyle Organizations: U.S, Trump National Golf Club, REUTERS, Former U.S, Trump, Leadership, Save, Congress, Federal, Commission, AMERICA, Republican, Save America PAC, Democrat, BE, Columbia Law School, Democratic, Thomson Locations: Bedminster , New Jersey, U.S, Former, United States, America, Washington

☆ Explainer: Can Trump use political donations to pay for legal defense?
▼ + stars: | 2023-08-01 | by ( Andrew Goudsward | ) www.reuters.com time to read: +4 min

Leadership PACs, such as Trump's Save America committee, raise money from donors to support political campaigns in the United States. The committees are set up and controlled by lawmakers or other political leaders, but are not connected to the candidate’s campaign. Unlike super PACs, which can raise unlimited sums from companies, unions and individuals, individual donors may contribute no more than $5,000 a year to leadership PACs. CAN LEADERSHIP PACS BE USED TO PAY LEGAL FEES? However, leadership PACs such as Save America also are not allowed to directly support their own candidate's campaign.

☆ Trump's $100 million PAC has burned through nearly all of its cash
▼ + stars: | 2023-08-01 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Trump's Save America PAC raised over $15 million in the first half of 2023, spent over $30 million and now has about $3.6 million on hand, according to Federal Election Commission records. The committee came into 2023 in a strong position, raising over $100 million in 2022 and finishing with $18 million on hand. The super PAC supporting Florida Gov. His own campaign raised around $20 million and went into the third quarter with just over $12 million on hand. The super PAC came into the later stages of the year with $30 million on hand.

Persons: Donald Trump, Donald Trump's, Ron DeSantis, Joe Biden, Trump, he's, Chris Christie, Christie, Charles Koch, Biden Organizations: U.S, Republican, Florida Gov, Trump's Save America PAC, Commission, NBC, Trump PAC, New, New Jersey Gov, CNBC, Trump, FEC, Koch Industries, Prosperity, PAC, Make, Inc Locations: Erie , Pennsylvania, U.S, New Jersey, Florida, Mar

☆ Wall Street execs make first bets against Donald Trump in 2024
▼ + stars: | 2023-07-16 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Christie, who is running for president again versus Trump this cycle, also received $6,600 from Jones in the second quarter, according to his campaign finance disclosure. Longtime venture capitalist Joe Lonsdale donated at least $3,300 to DeSantis in the second quarter, according to the filings. DeSantis' campaign finished the second quarter with $20 million raised. Bill Ackman, the CEO of hedge fund Pershing Square Capital, contributed $3,300 during the early stages of the quarter, according to the filings. Ramaswamy's campaign finished the second quarter having raised over $7 million, most of which was self-funded.

Persons: Ron DeSantis, Donald J, Trump, Paul Tudor Jones, DeSantis, Jones, Mitt Romney's, Barack Obama, Jeb Bush's, Chris Christie's, Christie, Forbes, Joe Lonsdale, Lonsdale, Justin Siegel, Goldman Sachs, Goldman, Vivek Ramaswamy, Ramaswamy, Bill Ackman, Ramaswamy —, Robert F, Kennedy Jr, Ackman, Ed Hyman, Glenn Dubin, Eva, Jeffrey Epstein, Dubin, Nikki Haley Organizations: Florida Gov, Governors, Washington Post, Getty, New, New Jersey Gov, Trump, Wall Street, Capital, Pershing, Twitter, Democratic, Evercore ISI, Dubin, Co Locations: Florida, Washington ,, New Jersey

☆ Analysis: U.S. crypto lobbyists court Democrats in fresh legislative push
▼ + stars: | 2023-07-10 | by ( Michelle Price | ) www.reuters.com time to read: +5 min

That effort escalated last month when the SEC sued crypto exchanges Coinbase and Binance for failing to register some crypto tokens. Most crypto companies dispute the SEC's jurisdiction. It would expand the Commodity Futures Trading Commission's (CFTC) oversight of the crypto industry, while clarifying the SEC's jurisdiction. With Democrats' support, the bill could have a shot in the Senate. McHenry and Thompson are discussing the proposal with crypto companies, regulators and Democrats, and hope the committees will vote on it before the August recess, senior Republican policy staff said.

Persons: Cody Carbone, Patrick McHenry, Glenn Thompson, Brett Quick, McHenry, Thompson, Maxine Waters, David Scott, Scott, Vicente Gonzalez, Sylvia Garcia, Carbone, Spokespeople, Waters, Gonzalez, Garcia, Sam Bankman, Fried, Kristin Smith, Coinbase, spender, Kara Calvert, It's, Michelle Price, Hannah Lang, Douglas Gillison, Richard Chang Organizations: U.S . Securities, Exchange Commission, SEC, Capitol, Blockchain Association, Chamber of Digital Commerce, Crypto, Innovation, Coinbase, Financial Services, Agriculture, Trading, Republican, Thomson Locations: Washington, United States

The exemption is allowed so long as Super PACs stay independent of the campaign they are supporting. This year's record spending by outside groups has been fueled in part by massive transfers by political groups tied to the candidates. "We've never had anything quite like this before in campaign finance," said Saurav Ghosh, a lawyer at the Campaign Legal Center. 'DISASSOCIATED'The Trump and DeSantis campaigns did not respond to requests for comment, but both Super PACs said the transfers were legal. "Campaign Legal Center is a fringe leftist organization that exists to file frivolous complaints," said MAGA Inc spokesperson Alex Pfeiffer.

Persons: Donald Trump, Ron DeSantis, Trump, DeSantis, MAGA, Stuart McPhail, We've, Saurav Ghosh, Alex Pfeiffer, Trevor Potter, John McCain, McPhail, Jason Lange, Nathan Layne, James Oliphant, Scott Malone, Suzanne Goldenberg Organizations: Florida, Republican, Inc, Federal, Commission, MAGA Inc, Citizens, MAGA, Republicans, Democrats, Social Security, Trump, DeSantis, Super PAC, Thomson Locations: Florida, Washington, Wilton , Connecticut

☆ Nonprofit funded by GOP donor Thiel apparently donated to left-leaning group, records show
▼ + stars: | 2023-06-28 | by ( Brian Schwartz | ) www.cnbc.com time to read: +6 min

The New Venture Fund raised over $950 million in 2021, according to the group's records. The listed donation to the New Venture Fund coincided with Thiel helping Republican candidates during the 2022 midterms. Massoglia suggested another scenario: that accountants for the Thiel Foundation may have filled out the forms incorrectly. The New Venture Fund is part of a network of left-leaning nonprofits guided by philanthropic advisory firm Arabella Advisors. Just like the New Venture Fund and the Donors Trust, the Sixteen Thirty Fund does not publicly disclose its donors.

Persons: Peter Thiel, Republican megadonor Peter Thiel, It's, Thiel, Anna Massoglia, OpenSecrets, Massoglia, Mitch McConnell, Brendan Fischer, Thiel Foundation hadn't, George Soros, Arabella Advisors Organizations: PayPal, Palantir Technologies, Founders Fund, Miami Beach Convention Center, Republican, Democratic Party, CNBC, The Thiel Foundation, New Venture Fund, D.C, New Venture, Thiel, Thiel Foundation, The New York Times, Donors Trust, Washington D.C, Google, America, Democratic, America Votes Locations: Miami , Florida, Washington, OpenSecrets, Ky

☆ Chris Christie lures big donors as he takes on Trump, while billionaire ally Cohen sits out
▼ + stars: | 2023-06-20 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

A person close to Cohen told CNBC that Cohen has yet to donate to either Christie's campaign or the allied super PAC called Tell It Like It Is. Cohen has no immediate plans to help Christie or get involved with the GOP primary at large, but his intentions could always change, this person added. Wall Street executive and former Trump communications director Anthony Scaramucci previously told Semafor he expected Cohen to support Christie. Colin Reed, a spokesman for the Christie super PAC, would not say who has donated to the group so far and only described the funding support as "overwhelming." The data also shows that Cohen later contributed $1 million toward Trump's inaugural celebration — at a time when Christie also publicly supported Trump.

Persons: Chris Christie, Donald Trump, Christie, Steve Cohen, Cohen, Anthony Scaramucci, Semafor, Scaramucci, CNBC's, Jeb Bush, Marco Rubio, Colin Reed, Reed, Joe Biden, Steve Schwarzman, Andy Sabin, Trump, Alexandra, Christie's Organizations: New, New Jersey Gov, GOP, Republican, Mets, CNBC, Wall Street, Trump, Christie, Gov, Republican Party, Blackstone, America Locations: New Jersey, Wall

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