A political action committee with ties to big tech and crypto donors is raising the specter of disgraced former FTX chief Sam Bankman-Fried to target New York congressional candidate Alex Bores as the state legislature faces a crowded Democratic field.
A sharply worded mailer distributed by Think Big PAC told voters that the Democratic primary candidate for New York’s 12th congressional district once received more than $100,000 in support from the former head of the failed global stock exchange, and claims that “Bankman-Fried’s cronies are bankrolling Bores for Congress.” It also criticizes Bores’ campaign finance and positions him as out of step with voters, urging voters to “do better than Bores.”
The attack comes as Bores competes in a high-profile primary that has drawn several prominent Democratic candidates, including Jack Schlossberg – a member of the Kennedy family – and other well-connected figures such as George Conway. The race to succeed Rep. Jerry Nadler in the deep blue Manhattan district is expected to be one of the most watched primaries of the 2026 cycle.
“For someone challenged by deep fake AI, candidate Bores doesn’t seem to have a problem creating his own reality. He took in over $100,000 from Sam-Bankman Fried’s nefarious political network, but refuses to acknowledge the connection,” a Think Big PAC spokesperson told CoinDesk, which confirmed the state election tallies. “Bores is entitled to his own opinion, but not his own set of facts about the role SBF has played in his political career.”
Think Big PAC says it backs candidates aligned with pro-technology policies and opposes those seen as hostile to artificial intelligence innovation. The group has previously used expenses to influence Democratic primaries in Ohio.
Bores, a first-term assembly member who represents parts of Manhattan, has recently drawn attention for introducing legislation focused on artificial intelligence security and accountability at the state level. The bill aims to impose guardrails on advanced artificial intelligence systems, and the legislative pressure may have made him a target.
The mailer zeroes in on political spending linked to Bankman-Fried, who was convicted on fraud charges linked to the collapse of FTX. In the 2022 cycle, Bankman-Fried and other FTX leaders were among the largest political donors in American politics, supporting candidates across the political spectrum. A CoinDesk analysis found that 196 members of Congress — more than a third — received campaign support from Bankman-Fried or associated executives during that period. But Bores was unusual as one of only two statewide candidates in New York to receive help from the SBF-affiliated PAC (the other being Lt. Gov. Antonio Delgado).
Think Big PAC has already spent hundreds of thousands of dollars on ads targeting Bores, including previous TV and digital spots attacking his previous work at Palantir. Bores’ campaign pushed back on those ads, sending a cease-and-desist letter accusing the PAC of making “false and defamatory statements” in its ads.
Bores’ campaign has not responded to CoinDesk’s request for comment.
Read more: Congress’s FTX problem: 1 in 3 members got money from Crypto Exchange bosses
