Crypto Legend To Donate $1 Billion To Keep Donald Trump Out Of White House In 2024

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Last Updated on 26 May 2022 by CryptoTips.eu

Jeroen Kok

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Back in 2020, Silicon Valley, the Californian region where most of America’s tech firm have their HQ, donated $100 million to purchase a barrage of ads against Donald Trump, as they were keen to get another Democrat in the White House. For example, Facebook billionaire co-founder Dustin Moskovitz gave more than $20 million to a little-known Democratic super PA, simply because he couldn’t write a check to Joe Biden directly, as the rules of US elections forbids this.

However, the biggest tech donor of all was Sam Bankman-Fried, the young FTX founder who had become a billionaire (thanks to some very risky trades and the price difference between Bitcoin in Japan and the US) in the years before. On the list of biggest donors to Joe Biden’s 2020 election campaign, Sam sits at place three.

Now as 2024 is rolling around the (far) corner, and US tech companies know this could be a repeat of the 2020 electorate field, namely Trump versus Biden, Bankman-Fried was asked how much he was willing to spend to keep Trump out of the White House. His answer baffled most media.

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Political donations

On the ‘What’s your problem?’ podcast with Jacob Goldstein, Sam was asked about the 2024 presidential race and asked how much he would give (now that he’s a billionaire many times over). Bankman-Fried responded:

I would guess north of $100 million. As for how much more than that, I don’t know. It really does depend on what happens. It’s really dependent on exactly who’s running where for what.

$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.

If he does, that would be the biggest political donation ever.

Sam started donating large parts of his paychecks long before he made his first billion (latest calculations claim he’s worth about $25 billion now), and he still lives fairly modestly, with roommates and a Toyota Corolla.

If you’re donating to political races that you think your candidates are 99 percent to win, you’re almost certainly doing something wrong, he said. You should be donating such that you think you have a pretty substantial chance of losing, and I stand by that.

Well, Donald Trump is forewarned of the kind of money FTX is willing to spend to keep him out of the White House.