Friday, April 12, 2024

Sam Bankman-Fried to donate up to $1 billion in US presidential election campaigns.

Crypto billionaire Sam Bankman-Fried is willing to donate up to $1 billion in the 2024 US presidential election campaigns. The founder of FTX crypto exchange says he doesn’t really know but it could be more than $100 million. Bankman-Fried said it depends on what happens and exactly who’s running where for what.

He pointed out that these things are super contingent. The 30-year-old was among the top 20 largest donors to Democrats Joe Biden’s 202 US presidential campaign. FTX contributed nearly $5.2 million to help Biden seal a win over former president Republican Donald Trump.

Bankman-Fried believes $1 billion is a decent thing to look at. But he argued that it’s a hard ceiling because no one knows what’s going to happen between now and then. And it could sort of be a soft ceiling. The billionaire highlighted that one of the most important issues is to prevent the next pandemic which could cost tens of billionaires of dollars. Bankman-Fried says he would be looking a lot less at political parties, and a lot more about sane governance and ads for the things that he cares the most about.

The FTX CEO believes that the US has both a big opportunity and big responsibility to the world to lead the West in a powerful but responsible manner. Bankman-Fried said that everything the United States does has a massive ripple effect on what the future looks like. He had recently donated over $10 million to support a Democratic candidate Carrick Flynn in last week’s primary for a congressional seat in Oregon. Bankman-Fried gave financial support as Flynn was focused on pandemic preparedness.

Unfortunately, the Democratic candidate lost by a wide margin. The crypto enthusiast said he learned a lot from it. He revealed that if he were to do it again, he would do it a bit differently but feels it was a well-thought-out raise.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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