July 16, 2024
Former FTX CEO Considered $5B to Discourage Trump Presidential Run
Latest Cryptocurrency News

Former FTX CEO Considered $5B to Discourage Trump Presidential Run

Former FTX CEO Sam “SBF” Bankman-Fried reportedly explored the idea of paying Donald Trump not to run for the United States presidency, according to Michael Lewis, the author of a new book titled “Going Infinite: The Rise and Fall of a New Tycoon.” Lewis revealed this information during a 60 Minutes interview on October 1.

In the book, one of the revelations is that SBF considered the possibility of offering money to Donald Trump in exchange for not pursuing a presidential run. Lewis commented on this revelation, saying:

“Sam’s thinking that we could pay Donald Trump not to run for president […] like how much would it take?”

He added that the number discussed at the time was $5 billion, but it wasn’t clear whether that figure came directly from Donald Trump. Lewis also noted that SBF was looking into the legality of such a proposition. However, this plan didn’t materialize because Bankman-Fried no longer had the $5 billion, and Lewis suggested that SBF saw Trump as a potential threat to democracy in the United States, placing him “on the list of existential risks.”

Michael Lewis spent a considerable amount of time with Sam Bankman-Fried in the Bahamas in 2022 and developed a close relationship with him. Regarding the fallout following the collapse of FTX in November 2022, Lewis described it as resembling “the aftermath of Pompeii,” with abandoned belongings and company cars left behind.

The trial of Sam Bankman-Fried is set to begin on October 4, following jury selection starting on October 3. The trial involves seven fraud cases against SBF, including two substantive charges and five conspiracy charges.

Photo by Naomie Daslin

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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