Sam Bankman-Fried, CEO of Hong Kong-based cryptocurrency derivatives exchange, FTX, contributed $ 5.2 million to presidential campaigner Joe Biden.
According to a report, Biden's presidential campaign received a total of $ 79.5 million from 100 high-profile donors. In fact, CEO.Bankman-Fried is reportedly the biggest high-profile contributor to the campaign after Michael Bloomberg, co-founder of eponymous finance and media companies, contributed $ 56 million.
The CEO's major contribution to Biden and current president Donald Trump remains small. Both campaigns with their external supporters raised $ 2.2 billion dollars.
Although Bankman-Fried is a newcomer involved in political spending, FTX is alleged to have long been active in the market.
In February 2020, FTX submitted a contract designed to allow traders to bet on Trump's re-election in 2020. Called Trump's token, the contract would end up being $ 1 if Trump wins the 2020 U.S. presidential election, and $ 0 if he loses. According to the latest recorded data, the majority of traders have placed their bets on "Trump Lose." FTX later launched a similar futures contract for Trump’s rival, Biden.
