FTX founder Sam is a staunch supporter of "Iron Biden"! He has made significant political contributions to the election, totaling over 5 million US dollars.

FTX founder Sam is one of the major contributors to President-elect Biden's campaign in this election. Data shows that Sam has donated over $5 million in political contributions.

FTX.US Listed as Major Biden Election Sponsor

OpenSecrets, a leading U.S. research group that tracks political funding and its influence on elections and public policy, has compiled the 2020 political donation data for U.S. presidential candidate Joe Biden. The most notable revelation in the list is that the cryptocurrency derivatives exchange FTX.US is one of Biden's major sponsors in this election. However, under U.S. law, it is illegal for corporations to make political donations, so these funds are not actually donated in the name of the company. According to OpenSecrets:

"The funds in the data come from Political Action Committees (PACs), employees, business owners, and their immediate families, and are not donated on behalf of the organization, as this practice is prohibited by federal law."

Upon confirmation from FTX founder Sam Bankman-Fried, he did indeed make donations through a political action committee called Future Forward. In the final month of the campaign, Future Forward spent over $100 million on television and digital media for Biden, more than any other organization.

According to data from the Associated Press, at the time of writing, Biden leads Trump with 264 electoral votes, with 6 electoral votes yet to be decided before the end of the 2020 presidential election.

Donors Include Well-Known Organizations

In fact, news of Sam's political donations was reported as early as October 20th by mainstream media such as The Wall Street Journal and Vox, but it went relatively unnoticed in the cryptocurrency field. The reported amount at the time matched the data released by OpenSecrets, approximately over $5 million, ranking 17th on Biden's political donation list.

Apart from FTX, there are many other noteworthy organizations on Biden's political donation list, including Bloomberg, Google subsidiary Alphabet, the U.S. hedge fund Renaissance Technologies (RenTec) rumored to be interested in Bitcoin, the largest U.S. shopping center operator Simon Property Group, and the renowned venture capital firm Y Combinator.

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