FTX CEO A Top Contributor to Biden’s Campaign After Bloomberg

• Sam Bankman-Fried, the CEO of the crypto derivatives platform FTX, has donated over $5 million to the 2020 presidential campaign of the former vice president Joe Biden. 
• Data provided from opensecrets.org reads that FTX.US is listed among the top donors in the ongoing elections with $5,220,000. 

FTX CEO, Sam Bankman-Fried. Source: Bloomberg

• The Wall Street Journal also covered the donation over a week ago. The prominent media outlet cited Bankman-Fried as the second-largest contributor, trailing only to the co-founder of Bloomberg – Michael Bloomberg:

• “Mr. Biden’s top contributor after Mr. Bloomberg was Sam Bankman-Fried, the Hong Kong-based CEO of cryptocurrency derivatives exchange FTX. A relative newcomer to political spending, he gave $5.2 million to the effort.”

• Interestingly, Bloomberg, a former mayor of New York City, also ran for president in 2020. However, he left the race prematurely after reportedly spending record amounts for his campaign.
• Although Joe Biden is the current favorite to emerge as the 46th US President, the final results are still unclear. The most recent updates assert that Biden has 264 out of the 270 electoral college votes necessary to declare victory. 
• It’s also worth noting that Bankman-Fried’s derivatives exchange was one of the first cryptocurrency platforms to enable its users to trade tokens related to the elections’ outcome. As reported yesterday, the tokens have been fluctuating massively in the past few days as incumbent president Trump briefly became the favorite. 

Featured Image Courtesy Of The Australian