While his biggest spending has been on Democratic primaries, he has also contributed directly to Democratic and Republican campaigns alike.Īnd though Bankman-Fried has what it takes to be the biggest donor in politics - an eleven-figure bank account he’s committed to giving away before he dies, as well as some very specific ideas about what needs fixing and how - he is only now explaining the unconventional path he plans to cut through the world of Washington. He’s more motivated by promoting new candidates in safe seats than the battleground combat that decides partisan control in Washington. Even though he spent about $40 million on campaigns this year, according to publicly disclosed filings with the Federal Election Commission, he told POLITICO that he plans to only spend about half that amount during the general election, when the Democratic Party faces losing its congressional majorities. In 2022, Beychok continued, “he could make a big difference for Democratic candidates - if he wants.”īut it’s not clear if that’s what Bankman-Fried wants.
But Sam, to his credit, came right in with a big splash.” “On our side, there’s a small pool of people who write these kinds of checks and they tend to be the same folks. “We’ve never seen something like this on this scale,” said Bradley Beychok, co-founder of American Bridge 21st Century, a Democratic super PAC. Some Democrats see Bankman-Fried’s investments and engagement as the thing that could help them hold back a red midterm wave.
And Bankman-Fried seemingly wandered into the middle of the Democratic Party and pulled out his wallet at the exact moment when many Democratic megadonors are pulling back, all ahead of a blistering midterm environment. Candidates, consultants and members of Congress are all eager to direct the millions he’s spending. The head-spinning speed of Bankman-Fried’s entrance onto the national political scene kicked off a race in Washington to understand him and define him - as a potential Democratic savior, a head-scratching mystery or, occasionally, a corrupt crypto bogeyman.
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