Bitcoin News

Knife-edge Biden-Trump Showdown Has Crypto Backers on Both Sides

As American voters face a nervous wait to see if Democratic candidate Joe Biden can edge out President Donald Trump in the recent United States election, it appears that some big crypto community players may be watching the vote counts with more trepidation than others – with Bakkt‘s parent and FTX standing on the opposite sides of the political fence.

Data compiled by Opensecrets, a research group that claims its mission is to “track money in United States politics,” reveals that Sam Bankman-Fried, the head of crypto derivatives exchange FTX, stumped up USD 5.2m to fund Biden’s campaign for the presidency, despite being a “relative newcomer to political spending,” in the words of the Wall Street Journal.

## @SBF_Alameda

— Bobby Cho (@robertjcho)

FTX is headquartered in Hong Kong, but some Redditors opined that FTX’s support for Biden could result in a lucrative reward further down the line, with one quipping,

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