FTX CEO Admits Carelessness About Speech $1 Billion Political Donation

The CEO of cryptocurrency exchange FTX is a political mega-donor who previously stated that he may contribute up to $1 billion in the 2024 U.S. presidential election.

In an interview with Politico’s Morning Money, Sam Bankman-Fried, the CEO of crypto exchange FTX, backtracked on his claims that he would give up to $1 billion in the next U.S. presidential election.

Earlier this year, the billionaire stated that he planned to spend “north of $100 million” on future political races. Bankman-Fried retracted the comment in the Politico interview:

“That was a dumb quote on my part. I think my messaging was sort of sloppy and inconsistent in some cases.”

This year, Bankman-Fried has spent about $40 million on political action groups and campaigns, the vast majority of which has gone to the Democratic Party and its candidates. He was a major contributor to Joe Biden‘s successful 2020 presidential campaign. According to Bankman-Fried:

“At some point, when you’ve given your message to voters, there’s just not a whole lot more you can do. You can spend more time on it, and more messaging, more money, more anything else, you’re not accomplishing anything more.”

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