mido-finance.com

FTX cryptocurrency exchange founder Sam Bankman-Fried was in the top 20 contributors to 2020 US presidential campaign of Biden with a $5.2 million donation.

As the divisive U.S. election chugs along, news of the donation has spread through crypto Twitter.

“Biden – funded by yield farming,” quipped Nansen CEO Alex Svanvik in a nod to FTX DeFi Index futures contract.

The donation disclosure was published on Opensecrets.org, a website aggregating the top contributors to the 2020 US presidential election.

While the prize for the biggest contribution goes to Bloomberg LP, with a $57.5 million donation, FTX comparatively humble $5.2 million handout comes in close behind that of Google’s parent company, Alphabet, which donated the Biden campaign $6.3 million.

According to crypto researcher Adam Cochran, rather than going to Joe Biden directly, FTX donation went to a political action committee (PAC) based out of Silicon Valley.

“That can be either top ticket support or corporate lobbying,” Cochran remarked.

For many experts, however—regardless of the donation vehicle—nothing is going to change the fact that a crypto exchange is now permanently etched as a top contributor for a potential US president.

As results trickle in, it’s becoming more and more likely that Bankman-Fried backed the winning candidate. According to the Associated Press, Biden remains firmly in the lead with 264 electoral college votes to Trump’s 214.

Today is the day after Election Day, and the race between President Donald Trump and Democratic nominee Joe Biden is still up in the air. Several states remain uncalled. Trump, however, could successfully defend big states such as Florida, Texas and Ohio. Biden, meanwhile, was able to be the apparent winner in Wisconsin and Michigan. Trump tried to claim victory, but millions of votes were still outstanding. Currently, Biden only needs 6 more electoral college votes to secure the 46th US presidency—and in that case it’s a crypto exchange that helped him get there.