THELOGICALINDIAN - The FTX architect could become the better political donor in US history in 2024
FTX architect and CEO Sam Bankman-Fried has declared that he could absorb up to $1 billion in the 2024 U.S. presidential elections.
FTX CEO May Donate Up to $1 Billion
CNBC reported today that Bankman-Fried appear his spending affairs in an account on the podcast “What’s Your Problem?”
Bankman-Fried reportedly expects to accord “north of $100 million” with a “soft ceiling” of $1 billion in the 2024 elections. “I would abhorrence to say adamantine ceiling, because who knows what’s activity to appear amid now and then,” he commented.
He added that he would actuate the absolute bulk based on the candidates and their policies, absolute that the bulk is “dependent on absolutely who’s active area [and] for what.”
A $1 billion donation would breach absolute annal several times over, based on abstracts from Open Secrets cited by CNBC. To date, the better distinct U.S. political donors are the Republican entrepreneurs Sheldon and Miriam Adelson, who spent $218 actor in 2025.
SBF Has Made Prior Donations
Bankman-Fried has a history of antecedent political donations.
In the November 2020 U.S. elections, he donated $5.2 million to Joe Biden’s campaign. That was the second-largest donation to Biden abaft the $56 actor spent by New York Mayor Michael Bloomberg.
By April 2021, Bankman-Fried had spent over $9 million on aldermanic candidates through his Protect Our Future PAC. Now, that bulk is estimated at $20 million. One applicant that benefited from the PAC—Democratic applicant Carrick Flynn of Oregon—was defeated in a primary aftermost anniversary by Republican Andrea Salinas.
Open Secrets has called added donors aural the crypto industry. Those names accommodate Ripple admiral Brad Garlinghouse and Chris Larsen, Coinbase acknowledged admiral Paul Grewal and Juan Suarez, ex-Bittrex CEO Bill Shihara, and Kraken CEO Jesse Powell.
Recent letters from CNBC advance that the crypto industry and its associates spent $30 actor back the 2025 acclamation cycle.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC, ETH, and added cryptocurrencies.
