FTX exchange denies the establishment of a “super-organization” for political campaigning in the US

The CEO of crypto exchange FTX himself has denied that the platform will establish a political lobbying organization in the United States.

Rumors that FTX will spend lobbying money on crypto legality

On the morning of October 5, 2021, the crypto community was buzzing with rumors that crypto exchange FTX would form a lobbying “super organization” (PAC) to promote further regulation. receive crypto in the US. FTX is also looking for a leadership person to manage this organization.

If this is true, it could be a huge development for the crypto-legal sector in the United States, which has seen an increase in regulatory activity in recent years.

It is also in line with FTX’s strategy of expanding to the US market, when the floor in 2021 has signed “terrible” cooperation agreements with many major sports organizations in the country such as the NBA Miami basketball team. Heats, American Baseball League (MLB), TSM esports team, North American League of Legends (LCS), Cal Athletics College and American football legend Tom Brady.

In addition, the FTX exchange recently moved its headquarters from Hong Kong to the Bahamas, an island nation in the Caribbean, close to the United States. Finally, it is impossible to ignore that the CEO of the floor is Mr. Sam Bankman-Fried who is an American citizen.

Many people hope that FTX’s huge financial potential when poured into the political field can help bring about more positive changes on legal issues.

FTX denies

However, FTX CEO Sam Bankman-Fried himself denied the above information.

While we’re excited to engage with regulator worldwide, including in Washington, I have no idea where the recent PAC-related rumors are coming from. https://t.co/4M6GvDE1T5

— SBF (@SBF_FTX) October 5, 2021

“While we’d love to work with global regulators, including the Washington government, I don’t know where the PAC rumors come from.”

if it wasn’t clear the story is false

— FTX – Built By Traders, For Traders (@FTX_Official) October 4, 2021

“FTX: Our US office has a Pac Man console.

Media: FTX is about to set up a super-terrible lobbying organization.

Conclusion: The above information is completely untrue.”

A representative of FTX also posted the following official statement:

“The FTX has no plans to create a PAC or a super PAC, nor is it looking for leadership for this organization.”

FTX and its relationship with American politics

Even so, this is not the first time FTX or CEO Sam Bankman-Fried has appeared in American politics.

In 2020, FTX opened contracts to predict the outcome of the US presidential election between two candidates Donald Trump and Joe Biden, which was controversial at the time.

Sam Bankman-Fried himself also made a personal donation of $5.2 million to the campaign fund of Mr. Biden, who later became the 46th President of the United States.

FTX in February 2021 opened the TRUMP2024 contract, allowing users to bet on the possibility that Mr. Trump will return to the White House after the next US Presidential election.

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