Sam Bankman-Fried the CEO of FTX exchange donated $5M to Biden campaign

The CEO of FTX, a Hong-Kong based cryptocurrency exchange FTX have donated $5.2 million dollars to Joe Biden’s presidental campaign.

Previously FTX launched a features contract to allow traders bet on the 2020 USA Elections outcome. The Trumpwin and Trumplose tokens are designed to be exchangeable for 1 USD each if Trump wins or if Trump loses respectively.

At this moment, results of voting for the next American president is still being counted, and there is no declared winner as yet.

Opinion

It’s rather unusual that the exchange which allows betting on election outcome tries to influence the election results in such a direct manner, even though the $5.2 million is just a drop in an ocean for the Joe Biden’s PR campaign.

Many crypto analysts believe that Biden will be a better president for the crypto economy in general, as Trump criticized Bitcoin and cryptocurrencies many times, implying it should be strictly regulated.

Biden on other hand have been accepting bitcoin donations for hes campaigns and is more likely to keep status quo, or even make it easier for US crypto startups to achieve their goals.

Soon we will know results of the election, while the Trumpwin and Trumplose token holders will count their gains or losses.