FTX CEO Sam Bankman-Fried enters the top-20 sponsors of Joe Biden’s presidential campaign

FTX’s Alameda Research CEO Sam Bankman-Fried donated $5.22 million to the campaign fund of Democratic candidate Joe Biden. The data are presented on the portal Opensecrets.org

\n

According to WSJ, Biden had secured 264 of the 270 electoral votes needed to win as of the time of writing.

\n

For a Trump bid for re-election, victory must come in the four remaining states where vote counting is not finished — Pennsylvania, Georgia, North Carolina, and Nevada. In Nevada, after three-quarters of the votes have been tallied, Biden leads (49.3% vs 48.7% for Trump).

\n

Source: WSJ.

\n

Under U.S. law, every contribution to a campaign fund is treated as a private donation. Direct corporate contributions are prohibited.

\n

Bankman-Fried confirmed the information from Opensecrets.org and explained that he made the donation in his capacity as CEO of Alameda Research.

\n

According to the publication, on the eve the daily trading volume of futures on the outcome of the 46th U.S. presidential election on the FTX exchange exceeded $10 million.

\n

Trading volume in futures on the outcome of the U.S. presidential election. Source: The Block.

\n

According to the publication, the exchange could earn about $1 million in commissions from these contracts.

\n

Earlier, ForkLog reported on the twists of the recent elections through the prism of futures traded on FTX.

\n

Subscribe to ForkLog news on Facebook!