peter sheathe co-founder of stack STX/USDrevealed a tangled web of Sam Bankman-Fried’s political connections, including one with Sen. Elizabeth Waren (DMA), below FTX‘s FTT/USD recent collapse.

What happened: STX surged over 13% after Shea tweeted about Bankman-Fried’s alleged political connections. The native Stacks token is currently trading at around $0.25 making it one of the biggest intraday gainers.

Here’s how she talks about the FTX meltdown: https://t.co/YsLkWsF1oC

— Ryan Shea (@ryaneshea) November 15, 2022

See also: How to Buy Stacks (STX)

Stacks is a layer 1 solution focused on integrating smart contracts and decentralized apps Bitcoin BTC/USD.

Last week, Stacks’ coin fell to its lowest level this year of $0.21 amid a sell-off in the cryptocurrency market sparked by the collapse of FTX. However, it rallied twice from the $0.21 support in a week, although the market remained uncertain.

accusations: According to Shea, Bankman-Fried’s parents — both law professors at Stanford — have long been involved in the Democratic Party.

Shea, citing a Fortune article and Warren’s official website, said it was Bankman-Fried’s father. Joe Bankmanwho helped her draft and approve her tax return legislation in 2016.

Shea said there was an element of irony in Warren’s reaction to the FTX debacle, in which the Massachusetts Senator advocated more “aggressive” enforcement and “stronger rules” in the crypto industry, without mentioning Bankman-Fried’s name or his $39 million donation her party for the US midterm elections.

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