Ivan Soto-Wright, CEO of MoonPay, and Miami Mayor Francis Suarez, ended up entangled in a minor scandal. It turns out that in late 2022, the MoonPay chief funnelled $500,000 into Suarez's electoral campaign via a Political Action Committee, or PAC.
The twist is, Soto-Wright made the transfer from the account of another company under his belt - PassionForest. Now, that's also the name of a Chinese floral business, which led to some legal headwinds.
When it was revealed that there were no ties between PassionForest and the Chinese venture, the controversy cooled down. Meanwhile, Miami's mayor, Francis Suarez, also quashed any whispers of potential Chinese backing.
On a side note, Suarez is an avid crypto enthusiast who accepts his mayoral paycheck in Bitcoin.
