FTX founder Sam Bankman-Fried has said he could donate over $100 million in the next US presidential election, adding that he has a soft ceiling of $1 billion.
This potential donation was revealed in a Podcast Interview with Jacob Goldstein on the Pushkin Industries podcast.
The crypto billionaire said he would be spending close to a billion if the former president of the United States, Donald *****, decided to run again. If he makes good on his words, he will be the most significant political donor ever in an election.
Is SBF prepared to spend $1 billion?
While speaking on the What’s Your Problem podcast, he mentioned that the political landscape would determine his political plans. In his words,
“I would guess north of $100 million. As for how much more than that, I don’t know. It really does depend on what happens. It’s really dependent on exactly who’s running where for what.”
When asked how much he would spend on a candidate contesting against former President *****, he confirmed that he could be spending up to $1 billion.
“[$1 billion] is a decent thing to look at as a — I would hate to say hard ceiling, because who knows what’s going to happen between now and then — but at least sort of as a soft ceiling.”
According to the campaign finance tracker OpenSecrets website, electoral donations could have an “unhealthy influence” over the US elections and government politics.
A donation of this magnitude would place SBF in the realm of mega-donors like the Adelsons, Michael Bloomberg, and the Koch brothers.
Bankman-Fried is one of the wealthiest men in crypto and is estimated to be worth over $20 billion. He donated $5.2 million to President Joe *****’s campaign for office.
Why SBF wants to fund election against *****
SBF’s intention to spend more if former president Donald ***** should run for office is not entirely surprising given the former president’s stance towards the crypto industry.
*****, on various occasions, has described cryptocurrencies as a scam during his term in office and even after leaving.
Last year, he reportedly said that Bitcoin seems like a scam and that he does not like it because it is another currency competing against the US dollar.
So ***** seeking re-election would pose a significant problem for the crypto industry where Bankman-Fried and his company is a major stakeholder.
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