CRYPTO CRASH: Dems' 'newest megadonor' forced to sell company on Election Day
Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during the Institute of International Finance annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022.
According to the Washington, D.C.-based non-profit Open Secrets, Bankman-Fried’s total contributions this cycle amounted to $39,826,856. That included a whopping $36,793,956 given toSam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022.
In August, Politico championed Bankman-Fried as a "potential Democratic savior" to help them hold back a red midterm wave. According to the outlet, he "hired a network of political operatives and spent tens of millions more shaping Democratic House primaries" in what was "a shocking wave of spending that looked like it could remake the Democratic Party bench in Washington, candidate by candidate.
Bankman-Fried, who donated more than $10 million to Joe Biden’s campaign ahead of 2020, estimated he could spend anywhere from $100 million to $1 billion looking ahead to the 2024 election. By October, he remarked to reportersSam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during the Bloomberg Crypto Summit in New York on Tuesday, July 19, 2022.
"Crypto has a way of humbling people who swagger too heavily," Yaël Ossowski, a cryptocurrency watchdog at the Consumer Choice Center, remarked to The Washington Free Beacon. "The days of Sam Bankman-Fried being a heavyweight Democratic fundraiser and political influencer to the benefit of his own exchange and his connected companies, are basically over."
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