FTX Founder Sam Bankman-Fried Backs Down on $1 Billion Promise!

Cryptocurrency Sam Bankman-Fried, founder of the stock exchange FTX, backed out in an interview with Politico’s Morning Money that he would donate up to $1 billion in the next US presidential election.

Earlier this year, the billionaire said he would spend “over $100 million” on future political campaigns. In an interview with Politico, Bankman-Fried retracted his words, calling it a “stupid statement”.

Sam Bankman-Fried, Founder of Cryptocurrency Exchange FTX, Recognized as One of the Top Donors to US Politics

Bankman-Fried has spent nearly $40 million on political action committees and campaigns this year, with much of it going to the Democratic Party and its candidates. Bankman-Fried was one of the biggest donors behind Joe Biden’s successful 2020 presidential campaign.

The famous cryptocurrency founder ended his words in an interview regarding the donation events in question:

“At some point, once you get your message across to voters, there’s not much you can do,” said Bankman-Fried. “You can spend more time, more messages, more money, more stuff on this, [ama] You cannot achieve anything more.”

The famous CEO, one of the youngest billionaires in the crypto world, was talked about not returning from the steps he took despite the declining market conditions.

Cryptocurrency exchange FTX continues to add employees to its company despite the stagnant market. Many companies in the industry have chosen to go out of business more than once in 2022.

*Not investment advice.