FTX's Sam Bankman-Fried Backs Down on $1 Billion Political Donation, Calls It a "Dumb Quote"
Founder and CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, has announced he could donate up to $1 billion in the 2024 US presidential election .
But now it looks like he's going back to his previous statement. In a recent interview, Bankman-Fried called it a "dumb quote".
"I think my posts were a bit sloppy and inconsistent in some cases," Bankman-Fried said.
Earlier he had remarked, "I guess north of $100 million. As to how much more than that, I don't know. It really depends on what happens. It really depends on exactly who is running where for what, and those things are super contingent."
Bankman-Fried reportedly spent nearly $40 million on political action committees and campaigns through the Protect Our Future PAC this year. Most of the amount goes to the Democratic Party and its candidates.
"At some point, when you've gotten your message out to voters, there's not much more you can do," Bankman-Fried said in the interview.
Bankman-Frierd has said he is refraining from any further political spending.
Also read: 'Everything is down' in 2022, not just crypto, FTX CEO Bankman-Fried tells Mooch
"Honestly, I could try to talk about pandemic preparedness in a general election. But most voters are going to say, 'That's cool, but like, I'm a Democrat. or "I'm a Republican.' So that's not going to move the needle enough for me to go through all the other issues," he added.
Earlier in June, Bankman-Fried pledged to donate the majority of his fortune to charities.
FTX surrounds embattled loan company Celsius. Additionally, FTX.US recently won a takeover bid for Voyager Digital, a crypto investment firm that filed for Chapter 11 bankruptcy in July of this year.
See also: Sam Bankman-Fried welcomes comparisons to J.P. Morgan for crypto bailouts: "I thought it was the right thing for industry"
Are you ready for the next crypto bull run? Be ready before that happens! Hear from industry thought leaders like Kevin O'Leary and Anthony Scaramucci at Benzinga's The Future of Crypto conference in December. 7 in New York.
Photo: Courtesy FTX
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Founder and CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, has announced he could donate up to $1 billion in the 2024 US presidential election .
But now it looks like he's going back to his previous statement. In a recent interview, Bankman-Fried called it a "dumb quote".
"I think my posts were a bit sloppy and inconsistent in some cases," Bankman-Fried said.
Earlier he had remarked, "I guess north of $100 million. As to how much more than that, I don't know. It really depends on what happens. It really depends on exactly who is running where for what, and those things are super contingent."
Bankman-Fried reportedly spent nearly $40 million on political action committees and campaigns through the Protect Our Future PAC this year. Most of the amount goes to the Democratic Party and its candidates.
"At some point, when you've gotten your message out to voters, there's not much more you can do," Bankman-Fried said in the interview.
Bankman-Frierd has said he is refraining from any further political spending.
Also read: 'Everything is down' in 2022, not just crypto, FTX CEO Bankman-Fried tells Mooch
"Honestly, I could try to talk about pandemic preparedness in a general election. But most voters are going to say, 'That's cool, but like, I'm a Democrat. or "I'm a Republican.' So that's not going to move the needle enough for me to go through all the other issues," he added.
Earlier in June, Bankman-Fried pledged to donate the majority of his fortune to charities.
FTX surrounds embattled loan company Celsius. Additionally, FTX.US recently won a takeover bid for Voyager Digital, a crypto investment firm that filed for Chapter 11 bankruptcy in July of this year.
See also: Sam Bankman-Fried welcomes comparisons to J.P. Morgan for crypto bailouts: "I thought it was the right thing for industry"
Are you ready for the next crypto bull run? Be ready before that happens! Hear from industry thought leaders like Kevin O'Leary and Anthony Scaramucci at Benzinga's The Future of Crypto conference in December. 7 in New York.
Photo: Courtesy FTX
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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