Sam Bankman-Fried, the CEO of crypto exchange company FTX, and the second biggest donor to the Democrat party, is in hot water as his company is in financial freefall with over $1 billion missing.
According to Fortune, “30-year-old Bankman-Fried has been a major force in Democratic politics, ranking as the party’s second-biggest individual donor in the 2021–2022 election cycle.”
Bankman-Fried made donations to the Dems that totaled $39.8 million, putting him just behind George Soros and his $128 million in donations.
He had even promised to spend more money on Dems in the future, saying he could go “north of $100 million” with a “soft ceiling” of $1 billion for the 2024 elections.
Bankman-Fried was a significant donor to Biden in 2020. He’s the largest financial contributor to the Protect Our Future PAC, “the political action committee which endorsed Democratic candidates such as Peter Welch, who this week won his bid to become Vermont’s next senator, and Robert J. Menendez of New Jersey, who secured a House seat.”