FTX Co-CEO Donated $4M To Republican PAC Before Midterm Elections

The FTX co-CEO donated $4M to a republican PAC as the midterm elections start so let’s find out more today in our latest cryptocurrency news today.

The FTX Co-CEO Ryan Salame already donated another $1 million to a non-partisan crypto PAC this cycle but now he donated $4 million to a political action committee aligned with the Republican candidates. The American Dream Federal Action will back the candidates that want to protect America’s long-term economic and national security on its website and it is focused on conservative leaders as per the statement Salame shared.

While not a crypto PAC, the new organization is a prime example of the industry flexing its power in the political race. Salame already gave out $10 million to GMI PAC which is focused on crypto this election cycle. PAC spending is only one tool in the industry’s political war chest and separately, the crypto companies are mounting aggressive influence campaigns in the statehouse in the effort to lobby for a favorable local law. Salame’s FTX co-CEO Sam Bankman Fried was among Biden’s biggest financial backers from the last election cycle.

Speaking of FTX, FTX US offers fewer coin and token listings than most of its competitors. Coinbase on the other hand pushed an aggressive listing strategy while the former emphasized caution. If you are trading on Huobi, there are about 487 coins and tokens to choose from as per the figures from CoinMarketcap. Binance has about 395 listings and Coinbase expanded the offerings over the past two years to reach 169. FTX US in the meantime, listed just 27 assets whcih is only a small percentage of the parent company’s 322.

The US SEC has oversight of the securities products and these are investmetns like shares and bonds that a company or government sells in order to raise capital so that people can buy in the hopes that the seller’s efforts will help them make money. To a certain extent, Harrison added that the question about constitutes security whcih doesn’t matter because it takes attention from bigger consideration about what’s worth best for the customer.

Crypto exchange FTX Acquired the developers of Storybook Brawl Game – Good Luck Games and in the new deal, the platform will become a part of FTX Gaming while Storybook will receive some blockcahin-based integrations. Exactly how will the game transform into a web3 game is unclear but Is possible that FTX Gaming is looking to adapt each card in the game into NFT.