FTX's Sam Bankman-Fried Backtracks on $1B Political Donation, Calls it 'Dumb Quote'
Sam Bankman-Fried, the head of crypto exchange FTX, in an interview with Politico's Morning Money backtracked on his remarks to donate up to $1 billion in the next U.S. presidential election.
Earlier this year, the billionaire had said that he would spend “north of $100 million” on future political campaigns. In the Politico interview, SBF, as he is popularly known, took back the statement, calling it a "dumb quote."
SBF has spent almost $40 million on super PACs and campaigns this year, the bulk of it going to the Democratic party and its candidates. He was one of the single-largest donors behind Joe Biden's successful 2020 presidential campaign.
“At some point, when you've given your message to voters, there's just not a whole lot more you can do,” Bankman-Fried said. “You can spend more time on it, and more messaging, more money, more anything else, [but] you're not accomplishing anything more.”
Read more: FTX's Bankman-Fried Is Already a Political Mega-Donor. He's Doubling Down
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