Co-CEO of FTX Contributes $4 Million to Republican PAC Ahead of the US Midterm Elections

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Co-CEO of FTX Contributes $4 Million to Republican PAC Ahead of the US Midterm Elections

Co-CEO of FTX Contributes $4 Million to Republican PAC Ahead of the US Midterm Elections
The U.S. Capitol building across the National Mall as visitors gather at the base of the Washington Monument in Washington, D.C., U.S., on Saturday, Dec. 18, 2021. The White House acknowledged that the $2 trillion economic proposal likely would not clear Congress this year, meaning that 2021 ends without a major accomplishment on social and climate policy. Photographer: Samuel Corum/Bloomberg via Getty Images
Source: CoinDesk
1649777236 12 Apr / 15:27

Ryan Salame has already contributed $1 million to non-partisan cryptocurrency political action committees during this election year.

According to Politico, FTX Digital Markets Co-CEO Ryan Salame contributed $4 million to a political action group supporting Republican politicians.

American Dream Federal Action would support politicians who "desire to safeguard America's long-term economic and national security," according to a statement on the group's website Monday. According to an information Salame shared with Politico, it is aimed at "conservative leaders."

While the new group is not a crypto-specific political action committee, it is another example of the crypto sector exercising its muscles in the political horserace. During this election cycle, Salame has already contributed $10 million to the crypto-focused GMI PAC.

PAC funding is one of several tools in the industry’s political toolbox. Separately, cryptocurrency corporations are waging intensive lobbying efforts in statehouses to get favorable local legislation.

Sam Bankman-Fried, Salame’s FTX co-CEO, was a significant financial booster of President Joe Biden during the past election cycle.

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