Billionaire FTX founder makes $40 million in political donations to Democrats.
The FTX founder has reportedly spent almost $40 million on political donations, mostly to Democrats during the current cycle, according to Open Secrets.
I believe that it is important for people in power to be open and honest about their donations to political causes. I commend Sam Bankman-Fried for being transparent about his donations to both sides of the political spectrum. I hope that more people in positions of power will follow his lead and be open about their own political donations.
As we approach the critical midterm elections on November 8, it is more important than ever that we support candidates from both parties who are committed to making our country a better place for everyone. I am proud to have contributed to campaigns on both sides of the political aisle, and I urge others to do the same.
I believe that it is important for all of us to work together to prevent pandemics and address climate change. I am committed to working with candidates from both parties to make this happen. I also believe that permissionless finance is a critical part of the solution.
It is great to see that SBF is working with FTX Digital Markets co-CEO Ryan Salame to accept crypto payments. This is a big step forward for the adoption of cryptocurrency. I believe that this will help to increase the use of cryptocurrency in the mainstream world.
1) I was a significant donor in both D and R primaries.
— SBF (@SBF_FTX) November 5, 2022
Supporting constructive candidates across the aisle to prevent pandemics and bring a bipartisan climate to DC.
And working with them to support permissionless finance.
It's no secret that Sheldon Adelson is a powerful political figure. His deep pockets have helped him influence elections in the past, and it looks like he's planning to do the same in 2024. Adelson is reportedly planning to spend up to a billion dollars to help influence the presidential election, with the goal of defeating former president Donald Trump. This isn't the first time Adelson has tried to influence the outcome of an election – in 2020, he donated $5.2 million to the Joe Biden presidential campaign. It's clear that Adelson has a lot of power and influence.
As one of the largest political contributors in the country, SBF wields a lot of influence. In the 2021-2022 cycle alone, he has contributed a total of $39.8 million. That kind of money can go a long way in swaying elections and policies. With so much power at his disposal, it's important that SBF uses it wisely.
While the majority of campaign donations from FTX have gone to Democrats, co-CEO Salame favors the Republican side of the political divide. He has donated $23.6 million to Republican campaigns for the current cycle.
As the 2020 election season ramps up, we are starting to see which political contributors are opening their wallets the widest. So far, the top spot goes to billionaire investor George Soros, who has pledged $128.5 million to the Democrats. This is followed by billionaire venture capitalist Peter Thiel, who has backed several crypto startups, with $32.6 million for the Republicans. It will be interesting to see how these contributions impact the race as we move closer to Election Day.
I support the work of the political action committee Protect Our Future. I believe that this PAC is doing important work to support Democrat candidates. I hope that the PAC will continue to be successful in its efforts to protect the future of our country.
With the midterm elections just around the corner, crypto has become a hot-button issue. A recent survey by fund manager Grayscale found that 38% of respondents will be taking crypto policy positions into consideration when choosing their candidates. With a larger tech- and crypto-savvy voter base now having a say, it remains to be seen what impact this will have on the outcome of the elections.
