Former FTX CEO's $5 Billion Plan

Renowned author Michael Lewis has unveiled a fascinating episode in the life of former FTX CEO Sam Bankman-Fried (SBF), revealing that SBF once contemplated offering Donald Trump a remarkable $5 billion to dissuade him from running for the U.S. presidency. This revelation came to light during a 60 Minutes interview with CBS News, in which Lewis explored the extraordinary journey of SBF, a former crypto billionaire and the founder of FTX.

SBF's audacious plan reportedly aimed to support Mitch McConnell, the U.S. Senate Republican leader, in funding Republican candidates who were at odds with Trump. Subsequently, tens of millions of dollars were committed to the campaigns of select Republican politicians, most of which the current FTX management is now trying to recover. SBF had intentions of further supporting Republican candidates in the 2024 U.S. elections.

The driving force behind SBF's generous donations and political maneuvering was his belief that Donald Trump represented a significant existential risk to democracy. However, the legality and the source of this proposed amount remained unclear.

During these discussions, FTX faced financial turmoil and ultimately went bankrupt. SBF also examined the legal implications of his audacious offer to Trump. The aftermath of FTX's collapse was described as chaotic, with personal belongings left behind as employees hurriedly departed.

Michael Lewis had developed a close relationship with SBF during his extensive visits to the Bahamas in 2022, offering unique insights into SBF's world and mindset, as is evident from a report from The Wall Street Journal.