The founder of crypto platform FTX, Sam Bankman-Fried has donated a total of $16 million to super PACs in just the month of April. According to the Federal Election Commission, he is one of the largest donors to outside political groups.
Out of the $16 million, he donated $10 million to a super PAC named Protect Our Future. This group supports candidates who can help prevent the next pandemic.
This PAC has spent around $19 million until now to back Democratic candidates, such as Carrick Flynn. Flynn was contesting for an open seat in Oregon’s 6th Congressional District however, lost the primaries to Andrea Salinas, a state lawmaker.
The remaining $6 million were donated to a PAC connected to Nancy Pelosi, the House Speaker. This PAC is also known as The House Majority PAC.
In just this election season, Bankman-Fried has donated a total of $31.5 million thus far, even amid the brutal downfall of the crypto market.
Bankman-Fried has been politically active for quite some time. He was one of the largest donors of the Biden campaign, making a contribution of $5.2 million.
It’s pretty much evident that the FTX CEO has a pro-democratic stance, while the co-CEO of FTX Digital Markets Ryan Salame has a pro-Republican stance.
In related news, the co-CEO of FTX Digital Markets, Ryan Salame launched a Republican PAC and put $4 million into it. The PAC aims to support “forward-looking Republican candidates” who want to protect “America’s long-term economic and national security.”