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FTX founder Sam Bankman-Fried is among Joe Biden’s top contributors with more than $5M in donation

FTX founder Sam Bankman-Fried is among Joe Biden’s top contributors with more than $5M in donation

Sam Bankman-Fried, the founder of crypto derivative exchange FTX, has made $5.2 million in donation to the U.S. Democratic Party presidential candidate Joe Biden. 

According to data, FTX.US is cited as one of the top donors in the 2020 cycle that contributed $5,220,000 to Biden’s presidential election campaign against Donald Trump.

Data from the Associated Press shows Biden is leading the race with 264 electoral votes as of press time – six electoral college votes away from winning the 2020 presidential election. specifies that the donation “came from the organizations’ PACs; their individual members, employees or owners; and those individuals’ immediate families.”

As such, the organizations themselves did not donate, as they are prohibited by law from doing so at the federal level.

Bankman-Fried confirmed to The Block that he did make the donation via a vehicle but it was through Alameda, the investment arm that is also run by himself.

Bankman-Fried’s political contribution was initially reported by several mainstream media including the Wall Street Journal and Vox but has largely gone unnoticed in the crypto space. 

Other notable names on Biden’s top contributor list that have made the same donation range include U.S. hedge fund Renaissance Technologies (RenTec) and Simon Property Group, the largest shopping mall operator in the U.S.

It was previously reported that the $75 billion hedge fund RenTec has been eyeing the bitcoin futures market, according to its regulatory filing.

Frank Chaparro contributed to reporting

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Author: Wolfie Zhao