Crypto exchanges

FTX head is going to splurge on the U.S. presidential election

The CEO of crypto derivatives exchange FTX, Sam Bankman-Fried, will allocate significant funds to campaigns related to the 2024 U.S. presidential election. He made the announcement on Jacob Goldstein’s podcast What’s Your Problem? Jacob Goldstein.

According to the FTX head, he plans to donate “more than $100 million” throughout the election cycle.

“As to how much more, I don’t know. […] It really depends on who’s running for what and where. […] I’m going to look a lot less at political party from that perspective and a lot more at sound management,” Bankman-Fried explained.

The host asked him for an upper limit on donations, after which the CEO of the exchange named a figure of $1 billion.

Yes, I think it’s a decent thing to look at as a sort of … I wouldn’t want to say it’s a hard ceiling, but at least as a soft ceiling,” Bankman-Fried replied.

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