Home / Cryptocurrency / FTX Exchange Boosted Biden Election with $5.2 Million Donation

FTX Exchange Boosted Biden Election with $5.2 Million Donation

According to OpenSecrets.org, one of the largest crypto derivatives exchanges, FTX, donated $5.2 million to Joe Biden’s 2020 presidential campaign. The size of the donation puts the exchange in the top-20 campaign contributors.

FTX Boosts Biden Campaign

The total size of Biden’s donations ended up at $937 million versus Trump’s $595 million, which may have given Joe an edge. At the time of writing, he leads with 264 electoral votes over Trump’s 214. Vote counting is still underway.

Sam Bankman-Fried, the CEO of FTX, is a prominent philanthropist involved in the Effective Altruism community. Moreover, he is a member of the Political Action Committee (PAC) Future Forward.

If Biden becomes a president, large donors like Bankman-Fried may benefit from it. Consequently, FTX donation may stir positive sentiment among lawmakers in the United States. 

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