FTX Founder Funded Phoenix-Based PAC that Helped Democrats in 2022

The founder of now-defunct FTX, a cryptocurrency exchange that went bankrupt earlier this month, reportedly donated millions to a Political Action Committee (PAC) based in Phoenix.

FTX CEO Sam Bankman-Fried reportedly donated $27 million to the Protect Our Future PAC, according to Arizona Free News.

FEC records show contributions to the PAC of $4 million in June, $10 million in April, another $4 million in March and $9 million in February.

In fact, Bankman-Fried was nearly the sole beneficiary to the PAC. He donated $27 million out of the group’s reported $28,487,593.18 in receipts in 2022.

The disgraced CEO is now under investigation for fraud.

Protect Our Future has a very particular mission: to prevent future pandemics.

According to its website:

Our country’s leaders failed to prepare for a pandemic experts warned for years was possible, and the result was more than a million preventable American deaths, trillions of dollars in economic damage, school closures, loss of freedoms, and untold suffering. Washington still has not learned its lesson, and has responded to the Covid crisis by underinvesting in pandemic prevention and leaving our country susceptible to another catastrophe, one that might be even worse next time. Our candidates are committed to safeguarding our nation from future global pandemics, so this is the last time in our lifetime, and our children’s lifetimes, that we will face the devastation that has gripped communities across the US since 2020.

In January, Michael Sadowsky, who runs the PAC, spoke with the German-owned news outlet Politico.

“Looking back on the past two years, it is clear that we need lawmakers in office who are focused on our future, not just our present — who will give our nation the best shot at ensuring the devastation that has occurred as a result of the COVID-19 pandemic never happens again,” he said.

A review of the PACs activities demonstrate Democrats, in their view are better equipped to handle such planning.

In fact, the fundraising group only endorsed Democrats in the 2022 election cycle, according to its website – though it did not opt to endorse any political candidates from Arizona.

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Pete D’Abrosca is a reporter at The Arizona Sun Times and The Star News Network. Follow Pete on Twitter. Email tips to [email protected].
Photo “Samuel Bankman-Fried” by Cointelegraph. CC BY 3.0.



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