FTX Head has donated $34 million to political candidates since January.
August 12, 2022
Earlier in May Bankman-Fried said he would spend as much as $1 billion on American politics by the 2024 election.
So far this year, SBF has alone spent $34 million on politicians.
The main reason he has cited for his massive donations is that he wants to encourage lawmakers to better prepare for the next pandemic.
In an interview with LA Times, SBF acknowledged a broader agenda behind his donations.
“I am spending a lot of time talking with members about what constructive things would be on crypto policies and about what can be done to provide federal oversight of it,” SBF said.
FTX head thinks it is really important that the crypto industry has federal oversight.
SBF has been pushing for CFTC to oversee the crypto industry instead of the SEC.