Crypto billionaire Sam Bankman-Fried is Democrats' largest donor in May, giving more than $800K
FEC records show Bankman-Fried gave more than $800K
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The Democratic National Committee's largest donor in May 2022 was cryptocurrency billionaire Sam Bankman-Fried, according to Federal Election Commission records.
Receipts posted on the FEC website show that Bankman-Fried made five contributions last month totaling $865,000, all made on either May 3 or May 5. On May 4, he tweeted support for Democratic California Gov. Gavin Newsom, stating that he was working with him on blockchain policy.
"Really excited to see CA taking the initiative on blockchain policy to protect consumers, provide oversight, and help grow the economy. Excited to work with @GavinNewsom on this!" he tweeted.
According to New York Times reporter Shane Goldmacher, Bankman-Fried's last contribution of $500,000 was refunded back to him, but even without the half a million dollars, he is still the Democratic Party's biggest donor for the month.
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Even $800,000 could be nothing compared to what the cryptocurrency billionaire plans on contributing in 2024.
In an interview with the Pushkin Industries podcast "What’s Your Problem," he hinted that he could end up shelling out $1 billion — possibly more, for the 2024 elections.
"It really does depend on what happens. It's really dependent on exactly who's running where, for what," he said, adding, "[$1 billion] is a decent thing to look at as a — I would hate to say hard ceiling, because who knows what's going to happen between now and then — but at least sort of as a soft ceiling."
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Chief Executive Officer of FTX Trading Limited Sam Bankman-Fried speaks during a House Committee on Financial Services hearing on Capitol Hill on Wednesday, Dec. 8, 2021 in Washington. (Photo by Jabin Botsford/The Washington Post via Getty Images / Getty Images)
At the same time, he said there was also a "very low" possibility that he donates zero funds for the Democratic Party in 2024 if he feels the campaigns are already secure.
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Bankman-Fried said he doesn’t care so much about party politics but said he will put his money behind "sane governance," adding he believes the U.S. has a responsibility to "shepherd" the world in a "powerful but responsible manner."