FTX CEO moots $1bn political donation

FTX CEO Sam Bankman-Fried has said he is prepared to allocate as much as $1bn to the 2024 presidential election.

Speaking in an interview on Tuesday, Bankman-Fried said that he was committed to spending at least $100m but was willing to spend $1bn.

He said that if former President Donald Trump runs again, he would not hesitate to spend more money.

“I would guess north of $100m. As for how much more than that, I don’t know. It really does depend on what happens. It’s really dependent on exactly who’s running where for what”, he explained.

If Bankman-Fried was to spend $1bn, it would be an unprecedented amount in any political race to come from a single donor.

Sheldon Adelson, the late casino mogul behind the Las Vegas Sands Corporation, currently holds the title for the biggest political donor.

He offered $218m during the 2020 political race, joined by others, such as Steve Wynn. Entrepreneur George Soros spent $125m on this year’s mid-term, but Bankman-Fried’s commitment and flirtation with these sums is a new milestone to aspire to.

He did not openly discuss which party he would be backing, although he is known to be a democrat.

Crypto has not thrived under democrats nor republicans but Bankman-Fried seems to believe that a more liberal society holds the best key to crypto’s future success.

In the meantime, you can spend your hard-earned cryptocurrency not on political donations but rather on recreational activities and gaming as brought to you by Bitcasino, 1xBit or FortuneJack.

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Updated: 05/25/2022 — 15:00