According to OpenSecrets data, FTX founder Sam Bankman-Fried and other company executives donated more than 70 million dollars to political campaigns in the years leading up to the 2020 elections.
According to OpenSecrets, Bankman-Fried donated over 40 million dollars to Democratic candidates and political action committees. He was the second highest donor and the sixth highest donor.
Ryan Salame donated more than $23 million to Republican candidates and efforts. The engineering director of FTX gave $8 million to liberal efforts.
FTX was the third largest contributor to political efforts this election cycle thanks to their collective contributions.
In the wake of FTX's implosion and bankruptcy, which led Bankman-Fried to step down from his position, the donations are prompting increased scrutiny of thecryptocurrencies industry's influence on politics.
The demise of FTX led to criticism of "effective altruism," a world view held by Bankman-Fried and some of his colleagues, which led to the formation of the Future Fund.
During an interview on NBC's Meet the Press in September, Bankman- Fried discussed his political donations, and acknowledged the influence they have over lawmakers.
Everyone should be skeptical of political donations. I don't want people to think I'm telling them that they should get a free pass. Look at the evidence and try to figure out what's going on.
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