Former FTX CEO Sam Bankman-Fried reportedly offers Trump $5 billion to prevent him from running for president

Former FTX CEO Sam Bankman-Fried reportedly offers Trump $5 billion to prevent him from running for president

Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, has reportedly mulled offering Donald Trump $5 billion to prevent the U.S. 45th president from running again in 2024.

The revelation is coming from Michael Lewis, author of and his new book on the disgraced cryptocurrency exchange founder.

There was also a specific figure discussed for Donald Trump's withdrawal from the election.

Lewis further asserted that SBF was eager to fund Republican candidates at odds with Trump and even approached 'the most unlikely of allies'-Republican Senate minority leader Mitch McConnell-and said they were still having these conversations when FTX blew up in November 2022.

He didn't have $5 billion anymore, Lewis said.

Decrypt has reached out to both Donald Trump and Mitch McConnell's offices with media inquiries and will update the article should we hear back.

Bankman-Fried had been a major political donor to both Republicans and Democrats before the FTX collapsed last year, contributing more than $70 million to election campaigns in less than 18 months.

He personally contributed to politicians and political action committees during the 2022 midterm election, bringing in a minimum of $40 million. A substantial portion of these donations were directed toward Democrats and liberal-leaning groups.

He ranked No. 2 behind George Soros as the second-largest Democratic candidate, behind George Soros.

Bankman-Fried also donated a substantial amount to fundraising committees and super PACs associated with both parties, including a $6 million contribution to the House Majority PAC, the main outside group supporting House Democrats.

Bankman-Fried also donated money to Republicans. The exact amount of his contribution to Republican causes is not disclosed, since they were made as undisclosed 'dark' donations.

'dark money' is a spending strategy that aims to influence political outcomes without being identified, according to the political finance tracking website Open Secrets.

SBF, however, admitted to giving an equal amount to Republicans as he did to Democrats, so his total political contributions may have actually been around $80 million.

The founder of FTX, who is due to go to trial next week, faces eight counts of conspiracy and fraud, including an allegation that he violated campaign finance laws.

The company, now under the leadership of CEO John J. Ray III, has been trying to claw back the donations made by Bankman-Fried and other FTX executives since the end of last year.