The U.S. subsidiary of the world’s biggest cryptocurrency exchange Binance has staged an entry into politics, setting up the Binance.US political action committee (PAC).
The committee was formed with a filing to the Federal Elections Commission dated Monday.
The Binance.US PAC should fill the void troubled U.S. campaign mega-donor Sam Bankman-Fried and FTX left in U.S. policy circles.
According to the filing, the official treasurer for its foray into U.S. politics is Krishna Juvvadi, the head of legal at Binance’s U.S. operation and former top regulatory lawyer for Uber.
Binance Chief Risk Officer Sidney Majalya’s name was also listed on one of the filings as the designated agent.
Former FTX CEO Sam Bankman-Fried and co-executive Ryan Salame had bossed political donations in the U.S., spraying tens of millions of dollars into congressional campaigns across the country.
Binance.US CEO Brian Shroder has individually given relatively small donations to Democratic candidates in the past, including Sen. Raphael Warnock (D-Ga.) when he was running the first time, and to the Lincoln Project formed by Republicans to oppose former President Donald Trump.