Upset With Biden? This Crypto CEO Could Be To Blame

October 14, 2022 10:53 am Comments

During the 2020 presidential general election crypto played a big financial role.

Newfound billionaires from several large crypto exchanges really rallied behind Biden.

One of those crypto billionaires was Sam Bankman-Fried the CEO of FTX.

Bankman-Fried was Biden’s second biggest donor behind only Michael Bloomberg.

The CEO of FTX donated a whopping $5.2 million to the Biden campaign in hopes he would usher in a pro-crypto age but unfortunately, that never happened

Coin Desk had these details to report:

Sam Bankman-Fried, the CEO of cryptocurrency derivatives platform FTX, made the second-largest donation to former Vice President Joe Biden’s presidential campaign, according to details revealed in The Wall Street Journal on Oct. 28.
The Hong Kong-based CEO gifted Biden’s campaign a total of $5.2 million, behind only former New York Mayor Michael Bloomberg’s $56 million donation.
Biden received $79.5 million from his top 100 donors, compared to Trump’s $75 million.
While vote counting is still underway, the edge in donations may have proven effective in pushing Biden first over the finish line, although at press time it’s still too early to say who has won for sure.
Bankman-Fried is a member of the wealthiest Democratic super PAC, Future Forward, which includes Facebook co-founder Dustin Moskovitz and former Google CEO Eric Schmidt.
The fund also includes Kathryn Murdoch, daughter-in-law of media mogul Rupert Murdoch, and Patty Quillin, wife of Netflix co-founder Reed Hastings, according to a report by the New York Times.
Future Forward was on pace to spend more than $108 million on television ads in support of Joe Biden in October, hoping to turn the tide among last-minute swing voters.
Other CEOs who donated larger amounts to Biden’s campaign include Seth Klarman ($3 million) and Michael Sacks (around $1.7 million). Both are hedge fund managers.

The Block added more to the story:

Sam Bankman-Fried, the founder of crypto derivatives exchange FTX and trading firm Alameda, has made a $5.2 million contribution to the campaign of U.S. Democratic presidential candidate Joe Biden. According to data, FTX.US is cited as one of the top donors in the 2020 cycle that contributed $5,220,000 to Biden’s presidential election campaign against president Donald Trump.

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