FTX founder Sam Bankman-Fried Donated Second-Largest Amount to Joe Biden’s Campaign




FTX exchange founder Sam Bankman-Fried has donated $5.2 million to Joe Biden’s 2020 US presidential campaign.

FTX exchange founder Sam Bankman-Fried is One of The Top Contributors

According to details revealed in the donation disclosure website Opensecrets.org, FTX exchange founder Sam Bankman-Fried is one of the top contributors. Sam Bankman-Fried, the CEO of cryptocurrency derivatives platform FTX, gave the second-largest donation to Joe Biden’s presidential campaign.

While Bloomberg LP gave the biggest donation, a $57.5 million donation and FTX’s donation is $5.2 million is behind that of Google’s parent company, Alphabet, which gave the Biden campaign $6.3 million.

Opensecret.org stipulates that it lists the top donors to Joe Biden in the 2020 cycle. It further states that “The money came from the organizations’ PACs; their individual members, employees or owners; and those individuals’ immediate families. At the federal level, the organizations themselves did not donate, as they are prohibited by law from doing so. Organization totals include subsidiaries and affiliates.”

Biden got $79.5 million from his top 100 donors, matched to Trump’s $75 million. As the vote counting is still advancing, the advantage in donations may have established productive in advancing Biden, although at the time of writing this it’s still too early to say who will sit in the white house.

Other notable CEOs who donated larger sums to Biden’s campaign are Seth Klarman ($3 million) and Michael Sacks (around $1.7 million). Both are hedge-fund directors.

This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission – but the prices do not change for you! 🙂

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 





Source link