Disgraced FTX founder Sam Bankman-Fried’s political shadow is haunting the 2026 election cycle, as a pro-tech super PAC uses his 2022 donations to smear New York congressional candidate Alex Bores. The attack highlights how legacy crypto-political ties are being weaponized to gatekeep candidates based on their stance toward artificial intelligence regulation.

Why is SBF’s 2022 political network being used to target Alex Bores?

Think Big PAC, a group positioning itself as an advocate for pro-innovation and AI-friendly policies, is currently spending heavily to derail Bores’ campaign in the crowded NY-12 Democratic primary. The core of their argument rests on a specific historical data point: Bores received over $100,000 in independent support from political networks linked to Bankman-Fried during his 2022 campaign cycle.

While SBF’s influence was once a badge of "forward-thinking" support in Washington, it has since become a toxic asset. Think Big PAC is framing Bores as a hypocrite, noting that while the candidate has built his platform on AI safety and accountability, his past financial backing stems from a network now synonymous with the catastrophic collapse of the FTX exchange. For a deeper look at how political maneuvering intersects with modern tech regulation, it is worth tracking how Senate Banking Committee Nears Deal on Crypto Market Structure Bill: CryptoDailyInk to understand the broader legislative landscape.

Was the support for Bores unique in the 2022 cycle?

According to a CoinDesk report, the scale of SBF’s political reach was massive, with over one-third of Congress receiving some form of support from FTX-affiliated entities. However, Bores stood out for a specific reason:

  • State-Level Anomaly: Bores was one of only two state-level candidates in New York to receive support from the SBF-affiliated PAC, alongside Lt. Gov. Antonio Delgado.
  • The PAC's Strategy: Think Big PAC is actively using this connection to paint Bores as "out of step" with his Manhattan constituents.
  • Defensive Moves: Bores’ campaign has already attempted to push back, filing a cease-and-desist letter against the PAC, alleging the ads contain defamatory content.

This aggressive posturing by PACs isn't limited to traditional politics; we are seeing similar friction in emerging sectors, such as when Nevada Issues Cease-and-Desist to Prediction Market Kalshi Over Betting Laws: CryptoDailyInk, illustrating how regulators and PACs are increasingly using legal and financial pressure to shape the future of tech-driven markets.

What is the connection to AI safety legislation?

Bores, a first-term assemblymember, has made AI safety and accountability a cornerstone of his current legislative agenda. His proposed bills aim to impose guardrails on advanced AI systems—a move that has clearly ruffled the feathers of industry-aligned groups. By linking Bores to the "sordid" history of FTX, Think Big PAC is attempting to undermine his credibility on the very issue he is championing.

FAQ

1. Why is SBF’s money still relevant in 2026? Because it serves as a powerful political cudgel. Candidates who received funding from his network are vulnerable to accusations of poor judgment or corruption, which PACs use to sway undecided voters.

2. Is Alex Bores the only target of these ads? No. Think Big PAC has been active in multiple Democratic primaries, specifically targeting candidates they perceive as hostile to AI innovation.

3. What is the status of the legal battle between Bores and the PAC? Bores has issued a cease-and-desist letter, claiming the PAC's ads are defamatory. The PAC, meanwhile, maintains that its claims regarding his past campaign financing are factual and based on election filings.

Market Signal

Expect continued volatility in political spending as the 2026 midterms approach, particularly for candidates with exposure to 2022-era crypto donations. Monitor CoinGecko for broader market sentiment, as regulatory uncertainty often mirrors the aggressive lobbying seen in these local primary battles.