Bloomberg reported that Samuel Bankman-Fried, founder of crypto derivatives exchange FTX, donated $16 million to super PACs* in April. This move has made him one of the top donors to donate to such political groups.
The crypto billionaire has given $10 million to Protect Our Future, a super PAC that says it supports candidates who can help prevent the next pandemic. The group has spent $19 million so far to influence its primaries, all in the Democratic Assembly races.
The Block reported in November 2020 that Bankman-Fried contributed $5.2 million to the campaign of current Democratic President Joe Biden. According to data from Opensecrets.org, FTX.US was among the top donors in the 2020 election cycle to support Biden’s presidential campaign.
*Super PAC: Political action committee (PAC) is a political committee in the United States that pools political campaign contributions and donates those funds to campaigns, voting initiatives, or legislation for or against candidates. PACs are typically created to represent business, labor, or ideological interests by individuals specifically seeking to raise money to donate to a political campaign.
