In a series of posts on Twitter, Sam Bankman-Fried disclosed that he has made donations to candidates that are actively seeking to support permissionless finance, as well as to prevent future pandemics. According to reports, the FTX boss has made the largest contributions among those in the crypto space.
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According to OpenSecrets, a research group that tracks political donations, crypto firms and their employees invested $73 million into upcoming the 2022 elections, up from the $13 million contributed during the 2020 cycle.
OpenSecrets revealed that SBF made the largest sum of donations among crypto representatives at a total $39.8 million. Furthermore, FTX is the third largest total contributor for the 2022 elections, behind a George Soros company and Uline.
Funding from SBF and other crypto firms was spread across a range of Democrat and Republican candidates, with companies demonstratively showing support for candidates that have expressed a pro-crypto stance.
The firms are hoping to influence the appointment of politicians who would not only enact crypto positive regulations, but would also seek to limit attacks by regulatory agencies, with the Securities and Exchange Commission (SEC) topping that particular list.
Sam Bankman-Fried has actively involved himself in lobbying efforts on behalf of the crypto ecosystem to push for the election of crypto-friendly politicians.
More on crypto firms’ attempts to influence the election:
Crypto Companies Attempt to Influence U.S. Midterm Elections
Find out how crypto rates politicians:
Coinbase (NASDAQ:COIN) Rates Politicians On Crypto-Friendliness Ahead Of U.S. Midterm Elections
See original on DailyCoin
Source: Cryptocurrency - investing.com
