FTX Derivatives Boss Ranks Second as Joe Biden's Top Campaign Financiers - Blockchain.News
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FTX Derivatives Boss Ranks Second as Joe Biden's Top Campaign Financiers

FTX derivatives exchange’s Chief Executive Officer, Sam Bankman-Fried has been revealed to be the second-highest donor to Joe Biden's campaign


  • Nov 05, 2020 09:05
FTX Derivatives Boss Ranks Second as Joe Biden's Top Campaign Financiers

FTX derivatives exchange’s Chief Executive Officer, Sam Bankman-Fried has been revealed to be the second-highest donor to the campaign of former Vice President and Democratic Presidential Candidate, Joe Biden.

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According to the Wall Street Journal, the Hong Kong-based CEO made a total donation of 5.2 million dollars as a member of the Democratic Super PAC.

 

Sam Bankman-Fried’s $5.2 million donations were only bested by that of the founder of Bloomberg LP, Michael Bloomberg who gave as much as $56 million. The total sum of money raised by the top 100 donors to Joe Biden came in at $79.5 million while the incumbent President and Republican candidate, Donald Trump amassed $75 million.

 

While the donations to the campaign is a reflection of how much confidence each donor has in the aspirant’s policies and leadership qualities, Bankman-Fried’s pole position to pump his funds into politics presented him as the only CEO on record running a cryptocurrency based firm including FTX derivatives exchange and SushiSwap which he redeemed following Chef Nomi’s stunts which almost ruined the platform.

 

Crypto CEO’s Clearly Differ in Their Political Ideologies

 

The build-up to the US general elections caused quite a stir in the cryptosphere particularly following the ‘apolitical’ stance Coinbase founder and CEO Brian Armstrong declared back in October and as reported by Blockchain.news.

 

While Twitter CEO, Jack Dorsey has disagreed with this position saying it ‘leaves people behind’ the happenings in society, Ripple CEO, Brad Garlinghouse has also disagreed with the position and the event has led a number of Coinbase employees to drop their resignation letters.

 

With Jack Dorsey and Brad Garlinghouse clearly disagreeing with the apolitical stance of Brian Armstrong, Bankman-Fried’s donation to Biden’s campaign is a strong statement that crypto-based entities are as part of the society as much as other businesses are and should be part of the system as best as they can.

 

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