- FTX made $74.6 million in donations to many political bodies.
- 63% of these donations were for liberals.
FTX Exchange, when they were still in operation, was one of the most prominent crypto exchanges in the industry. However, before going bankrupt, they made several political donations to several bodies.
FTX Exchange Executives Donated Over $80 Million
- According to new data from CoinGecko, the executives from FTX Exchange were making huge donations to political bodies. So, the amount of donations they made to several political bodies was quite massive. Another thing to note here is that they made these donations depending on their political views. So, there was a combination of donations to liberals and conservative groups.
- Besides the collapse of these exchanges, the former FTX CEO, Sam Bankman-Fried, donated at least $46.4 million to political groups. So, he made his donations across Democrats and left-leaning causes. According to data, 89.2% of Bankman-Fried’s donations were to liberals. So, some of the groups he made donations to are Protect Our Future Democratic Political Action Committee (POF PAC), House Majority PAC, and Future Forward USA. POF PAC.
- On the other hand, the co-CEO of the FTX exchange before the collapse made his own donations. So, Ryan Salame made a significant $23.4 million contribution to conservative causes. He shared the same political views as Republicans and conservatives. So, there were other donations of around $10.2 million from the executives.
Top 10 Recipients of Donations from FTX Exchange
- Many organizations were recipients of the massive political investment from the FTX Exchange. So, the number one on the list was Protect Our Future (POF), with around $28 million in donations. The second list was the American Dream Federal Action, with around $15 million in donations. So, the third here is the House Majority PAC, with around $6 million in donations. The Future Forward USA received the same $6 million.
- The 5th recipient from FTX Exchange was Reproductive Freedom for All at around $4 million investment. The next here was Pro-Crypto Super PAC GMI at $3.5 million in donations. So, the Senate Majority PAC received a $3 million donation. The Senate Leadership Fund received a $2.5 million donation. Others, like the Women Vote and Congressional Leadership Fund, received $2.25 and $2 million donations, respectively.
Democrats Take the Lead in FTX Donations
- It is obvious that Sam Bankman-Fried shared the views of the Democrats. So, that’s why the majority of the donations from the FTX exchange were for the liberals.
- Around 67% of contributions went to Democratic parties, candidates, and Liberal groups. So, about 63% of total political donations were for liberals alone.
Conclusion
When the FTX Exchange was still active, they made a series of political donations to many entities. So, according to data from CoinGecko, FTX, while still in operation, made close to $80 million to political bodies. Republicans and Democrats had their fair share of the donations. However, a large percentage of this was for liberals.
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