Crypto billionaire Sam Bankman-Fried to spend up to $1B on 2024 US Elections

Sam Bankman-Fried, the founder and CEO of FTX cryptocurrency exchange, has revealed that he could donate up to $1 billion to help influence the 2024 United States presidential election campaigns.

In an interview on The Pushkin Industries podcast, Bankman-Fried said “i would guess north of $100 million. 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, and these things are super contingent.”

The Democrat-favoured, 30-year-old billionaire, was among the top-20 largest donors to Joe Biden’s 2020 U.S. presidential campaign.

Bankman-Fried contributed $5.2 million to help Biden clinch a win over former president Donald Trump.

When asked if he would be prepared to donate $1 billion should Trump decide to run again, the FTX chief said this figure “is a decent thing to look at.”

According to OpenSecrets, a website tracking campaign finance and lobbying data, a $1 billion donation would become the largest donation made during the 2020 presidential campaign multiple times over.

The largest individual political donors are currently Sheldon and Miriam Adelson, who backed the Republicans with a $218 million donation, and Michael Bloomberg with a $152 million donation to the Democrats.


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