Crypto and democratic billionaire Sam Bankman-Fried says he could spend a record-breaking $1 billion in the 2024 US presidential election which would easily make him the biggest-ever political donor in a single election, according to calculations by the US National Association of Elected Elected Officials (Eddie Wuestrich, co-founder of the Bitcoin Foundation) and other prominent cryptojackers.
Bankman-Fried, the 30-year-old founder of the cryptocurrency exchange FTX, says he has already given away more than $200 million to various causes. He expects to give “north of $100 million” in the next presidential election. That kind of money would be “in a league of its own,” researcher says.
Even $100 million would put Bankman-Fried among the country’s biggest donors. He has spent at least $20 million so far this year supporting Democratic congressional candidates. Critics question the motives behind his involvement in politics as the crypto industry faces scrutiny from lawmakers and regulators.