FTX founder Sam Bankman-Fried has been accused of attempting to buy the 2024 Presidential Election for $5 billion by offering 45th President Trump not to seek re-election. These allegations were revealed by author Michael Lewis in his upcoming book on Bankman-Fried’s rise and fall.
In a recent interview with 60 Minutes, Lewis disclosed that Bankman-Fried, who was previously a major donor for the Democrat Party before his arrest, had expressed his desire to pay Trump a staggering $5 billion to refrain from running for president in 2024. Lewis described this revelation as one of the most shocking passages in his book.
According to Lewis, Bankman-Fried had explored the possibility of influencing Trump’s decision not to run for president by offering him a massive sum of money. The author claimed that Bankman-Fried had made contact with a member of Trump’s team to discuss this proposal but no further progress was made.
Ironically, Lewis noted that Bankman-Fried himself had hesitations about the legality of bribing a presidential candidate not to run. This raises questions about his understanding of the ethical and legal boundaries of political processes.
Lewis’s new book, titled “Going Infinite: The Rise and Fall of a New Tycoon,” delves into the biography of Bankman-Fried and his now-defunct FTX cryptocurrency exchange. The author, known for his previous work “The Big Short,” which examined the 2008 financial collapse, reveals the story behind Bankman-Fried’s ascent as a billionaire through FTX.
Bankman-Fried’s influence extended to the political realm, as he became one of the largest political donors for the Democratic Party during the 2020 election cycle. His financial contributions continued into 2022, with allegations that he funneled substantial amounts of money to Democratic causes through straw donors and dark money groups. Additionally, Bankman-Fried personally made millions of dollars’ worth of donations to Democratic campaigns.
While Bankman-Fried primarily focused on the Democrat side of FTX’s political finance operations, his co-founder Ryan David Salame handled the GOP’s side. Salame reportedly donated millions of dollars to Kevin McCarthy’s political machine, the Congressional Leadership Fund. McCarthy then utilized this funding to target and undermine America First candidates throughout the 2022 election cycle, protecting establishment Republicans supportive of his eventual bid for Speaker of the House.
These revelations shed light on the extensive financial influence that Bankman-Fried and FTX had on the political landscape. While his attempt to sway the 2024 Presidential Election did not progress beyond discussions, it raises concerns about the potential risks posed by wealthy individuals attempting to manipulate the democratic process through immense financial power.
The release of Lewis’s book provides further insights into the controversial actions and downfall of Sam Bankman-Fried, offering readers an in-depth understanding of the rise and fall of this prominent figure in the world of cryptocurrency and politics.