According to Open Secrets, the creator of FTX has allegedly spent about $40 million mostly helping Democrats during the current election campaign.
Sam Bankman-Fried, the crypto millionaire and creator of FTX has acknowledged to being a “major contributor” to both political parties ahead of the 2022 midterm elections.
Prior to the November 8 midterm elections in the United States, SBF informed his Twitter followers that he had contributed to campaigns on all sides of the political spectrum.
The crypto millionaire said that he has been “supporting constructive candidates across the aisle to avert pandemics and create a bipartisan atmosphere to Washington” as well as “working with them to encourage permissionless finance.”
SBF said that, in collaboration with the co-CEO of FTX Digital Markets, Ryan Salame, he has signed up campaigns to take cryptocurrency and given millions to Senate and House Republicans.
Cointelegraph revealed earlier this year that SBF planned to spend up to one billion dollars to influence the 2024 presidential election campaigns. His true intention is to fund the candidate against former president Donald Trump. In 2020, SBF contributed $5,2 million to the presidential campaign of Joe Biden.
According to Open Secrets, a website that tracks political contributions, SBF is the sixth greatest political donor. According to the platform, he has contributed a total of $39.8 million for the 2021-2022 period.
92% of this amount has gone to Democratic politicians and campaigns, with the remaining going to Republican candidates and campaigns. Salame, co-chief executive officer of FTX, has contributed $23.6 million to Republican politicians during the current election cycle.
George Soros, a billionaire investor who has donated $128.5 million to the Democrats was the largest political donor. Peter Thiel, a billionaire venture capitalist who has supported multiple cryptocurrency businesses was ninth on the list, contributing $32.6 million to the Republicans.