The Founder and CEO of Cryptocurrency Exchange FTX, Sam Bankman Fried, announced he could donate up to $1 billion in the 2024 US presidential election.
But now he seems to be backing down from his previous statement. In a recent interviewBankman-Fried called it a “stupid quote”.
“I think my messaging was a bit sloppy and inconsistent in some instances,” Bankman-Fried said.
He previously remarked, “I would estimate over $100 million. I don’t know how much more. It really depends on what happens. It really depends on who’s running where for what and those things are super contingent.”
Bankman-Fried has reportedly spent just under up to $40 million for political action committees and campaigns about the Protect our future PAC this year. Most of the amount goes to the Democratic Party and its candidates.
“There comes a point when you’ve got your message across to voters, there’s not much you can do,” Bankman-Fried said in the interview.
Bankman-Frierd has stated that he will refrain from further political spending.
Also read: In 2022, “everything is down,” not just crypto, FTX CEO Bankman-Fried tells Mooch
“Honestly, I could try to speak at a general election about preparing for a pandemic. But most voters will say so, “That’s cool, but I’m a Democrat” or “I’m a Republican”. So that won’t move me enough to go through all the other issues,” he added.
At the beginning of June, Bankman-Fried promised to give away the majority of his assets to charitable organizations.
FTX orbits the troubled credit company Celsius. Additionally, FTX.US recently won a bid to buy Voyager Digitala crypto investment company that filed for Chapter 11 bankruptcy in July of this year.
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