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CEO of Hong Kong-based crypto derivatives exchange FTX donated $5M to Biden campaign

The CEO of Hong Kong-based cryptocurrency derivatives exchange FTX, Sam Bankman-Fried, donated $5.2 million to Joe Biden’s presidential campaign.

According to Wall Street Journal on October 28th, 2020, Biden’s presidential campaign received $79.5 million from the top 100 donors describing themselves as CEOs.

Both Biden and current president Donald Trump campaigns together with their outside backers raised $2.2 billion dollars.

In February 2020, FTX launched a contract designed to allow traders to bet on Trump’s reelection in 2020. Dubbed Trump token, the contract expires to $1 if Trump wins the 2020 U.S. presidential general election, and $0 if he loses.

Afterward, FTX launched a similar futures contract for Trump’s rival Biden. This was reported by cointelegraph.com on November 5,2020

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