FTX CEO Revises US Election Campaign Funding Plans
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FTX CEO Sam Bankman-Fried has called in an interview with Politico his words about his willingness to spend up to $1 billion on the US presidential election in 2024 “stupidity.”
He said in May he plans to donate “more than $100 million” over the course of the election cycle. After a request to indicate the upper limit of possible spending, he indicated $1 billion. He has explained:
“At some point, when you get your message across to the voters, there is simply nothing else you can do. You can spend more time, messages, money, everything else, but you will not achieve anything else.”
The CEO of the crypto exchange has spent almost $40 million this year, most of which went to the US Democratic Party and its candidates.
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