By CoinSwitch
Did you Know?
Asia’s first crypto exchange-traded fund (ETF) could be launched in India’s GIFT City this year by Torus Kling Blockchain
Crypto Returns Calculator
0x1inchAaveAirSwapAlgorandAlien WorldsAmbire AdExAnkrApeCoinAugurAvalancheAxie InfinityBancorBand ProtocolBasic Attention TokenBinance CoinBitcoinBitcoin CashCOTICardanoCeler NetworkChainlinkChilizChromiaCivicCompoundCosmosCurve DAO TokenDFI.moneyDIADaiDashDecentralandDigiByteDogecoinEOSElrondEnjin CoinEthereumEthereum ClassicEthereum Name ServiceFantomFetch.aiFilecoinGASGalaGolemHarmonyIOSTIndian RupeeInternet ComputerIoTeXJasmyCoinKyber NetworkLitecoinLivepeerLoopringMakerMetalMy Neighbor AliceNEMNEONKNNanoNumeraireOmiseGOOrigin ProtocolPax DollarPolkadotPolygonPower LedgerQuantstampQuarkChainRepublic ProtocolRequestRippleShiba InuSolanaStatusStellarStorjSushiSwipeSynthetix Network TokenTetherTezosThe GraphThe SandboxTheta FuelTheta NetworkThresholdTronTrue USDUMAUSD CoinUniswapVeChainWavesZilliqaaelfdistrict0xiExec
Indulge in digital reading experience of ET newspaper exactly as it is.
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Founder, Yunometa
CEO and Co-Founder, Vauld
CEO and Co-Founder, Defy
Founder & CEO, 5ire
Founder & CEO, SportZchain
Editor, TOI
Provide valid query here
Provide valid Name
Provide valid Email ID
Provide valid Mobile Number
Your query has been submitted.
Got more Queries ?
Trending Now
Popular Categories
Hot on Web
In Case you missed it
Top Calculators
Top Searched Companies
Top Definitions
Most Searched IFSC Codes
Top Prime Articles
Top Story Listing
Top Slideshow
Top Trending Topics
Top Videos
Private Companies
Popular Articles
Most Searched Articles
Find this comment offensive?
Choose your reason below and click on the Report button. This will alert our moderators to take action
Reason for reporting:
Your Reason has been Reported to the admin.
Log In/Connect with:
Will be displayed
Will not be displayed
Will be displayed
Stories you might be interested in


On Friday, May 20 at 19:30 GMT:
Investors have seen their crypto fortunes disappear in the past weeks as a massive sell off of digital assets dealt severe blows to the global market. Last Thursday alone, $200 billion was sold off from crypto markets as the value of Bitcoin and other digital currencies tanked. In the past months, nearly $1 trillion – almost half global market value for digital currencies – has been wiped out.
The downturn comes at a time when crypto investing has gained wider acceptance by the finance industry. Many analysts say the crypto market is mirroring ongoing declines in traditional markets that have been hit by rising inflation and a spike in interest rates.
So can cryptocurrencies make a comeback, and is more scepticism warranted? Diehard investors are choosing to weather the storm and remain optimistic that crypto adoption will continue to grow. And in the face of global economic uncertainty, more traditional investors may continue looking to crypto to diversify their assets.
In this episode of The Stream, we’ll talk about the latest crypto market crash and what it could mean for the future of digital assets.
On this episode of The Stream, we speak with:
Daniel Roberts, @readDanwrite
Editor in Chief, Decrypt
Nicholas Weaver, @ncweaver
Researcher, International Computer Science Institute
Edwardo Jackson, @SwagPoker
CEO, CinemaDraft
Follow Al Jazeera English:


A popular crypto analyst is weighing in on a pair of altcoins as the markets try to navigate out of a rocky month of trading.
In a new strategy session, Coin Bureau host Guy tells his 2.05 million YouTube subscribers that he still anticipates cross-chain decentralized finance (DeFi) lending protocol Kava will grow, noting that KAVA’s recent drop in price was likely caused by the collapse of Terra (LUNA).
“When it comes to Kava, its KAVA coin is shooting for the stars on the upcoming launch of its own mainnet upgrade, which will feature support for the Ethereum Virtual Machine.
Kava has seen some very volatile price action and it’s important to point out that its recent dip was due to Terra’s implosion. For context, all Cosmos-based cryptocurrencies seem to have taken a hit, but luckily for Kava its price is still in a nice long-term uptrend.”
At time of writing, Kava is up 4.52% and trading for $2.89. KAVA was priced above $5 a month ago, later falling to as low as $1.54 on May 11th before slowly recovering since.
Next on Guy’s radar is KCS, native token of the KuCoin crypto exchange. The host notes that the new decentralized KuCoin Community Chain (KCC) is adding more gravitas to an already popular marketplace.
“We have KuCoin’s KCS token, which as an exchange token is merged at the hip with the actions of KuCoin’s cryptocurrency exchange.
To be fair, this seems to be changing as the KuCoin Community Chain gains adoption, the long-term price action of the KCS token also looks seriously impressive.
This again has to do with the increasing popularity of the KuCoin cryptocurrency exchange.”
KuCoin Token is currently up 2.3% on the day and changing hands for $16.86. KCS is up 77.66% from a recent low of $9.49 on May 12th.
The Coin Bureau host also takes a look at smart contract platform Fantom (FTM), telling viewers that he remains upbeat about the Ethereum (ETH) competitor despite the recent departure of developer Andre Cronje.
“As for Fantom, the FTM coin is responding positively to the prospect of the proposed changes to Fantom’s staked FTM and FUSD [Fantom USD] mechanics.
Like other layer-1s, FTM has seen the wind drop out of its sails, especially after Andre Cronje announced he would be leaving the project. Note that I still hold FTM and that’s because I believe there’s more to Fantom than one man, just my opinion.”
Fantom is rallying big, up 15.18% and priced at $0.49 at time of writing. FTM was valued at $1.11 a month ago but crashed to as low as $0.25 on May 12th.
Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Featured Image: Shutterstock/kersonyanovicha/Natalia Siiatovskaia/Nikelser Kate
Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology
Ripple and XRP • Altcoins
Blockchain • Regulators
Scams • Crypto101HodlX •
Industry Announcements
© 2022 The Daily Hodl


Your afternoon must-read briefing on politics and government in the Golden State
Get the California Playbook PM newsletter
By signing up you agree to receive email newsletters or updates from POLITICO and you agree to our privacy policy and terms of service. You can unsubscribe at any time and you can contact us here. This sign-up form is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
05/24/2022 06:30 PM EDT
CALIFORNIA AND CRASHING CRYPTO:Gov. Gavin Newsom opened California’s arms ","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa5680000","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa5680001","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>Gov. Gavin Newsom opened California’s arms to the cryptocurrency industry earlier this month with an executive order that he issued citing the emergency powers he gained during the pandemic.
A week later, crypto was in meltdown mode.

Crypto skeptics in Sacramento and beyond said: I told you so.
Regardless of how the digital money markets sort out — or don’t — from here, Sacramento’s web3 and cryptocurrency debate is simmering behind the scenes as some lawmakers aren’t entirely happy with what’s seen as a pro-industry signal from the governor. Newsom’s pro-industry signal Newsom’s executive order sends.
In the order, Newsom declares that California will work in tandem with President Joe Biden’s federal push to explore crypto and blockchain — to build stability for the market and a regulatory scheme for consumers.
It’s worth noting that California has lagged behind other states like New York on taking proactive regulatory measures and staking ground on crypto policy.
The Legislature itself has stayed conservative about crypto, killing two proposals this year that would have broadly expanded use of digital currency including in state operations, as Newsom’s order directs the state to explore.
There are two main players appointed by Newsom’s executive order to plot out the state’s crypto path:
— The governor’s Office of Business and Economic Development, or GO-Biz, which is all about attracting and keeping business in California.
— The state’s Department of Financial Protection and Innovation, a newly rebranded consumer-protection bureau charged with safeguarding financial laws, handling complaints, and educating Californians about risks.
When asked about the recent market drama, both agencies stayed coy.
The governor wants to “explore opportunities for new technologies to improve government services,” GO-Biz spokesperson Heather Purcell replied in a statement, adding that recent market events “underscore the need for this work.”
A DFPI spokesperson echoed Purcell’s response, saying: “Current market fluctuations underscore the need for the DFPI’s work to continue as planned.”
Meanwhile, consumer advocacy groups are wary. Robert Herrell, executive director for the Consumer Federation of California, said his group worries the executive order, and especially GO-Biz’s role in it, “ventures dangerously close to cheerleading when caution and consumer protection should be the focus of California.”
HAPPY TUESDAY AFTERNOON! Welcome to California Playbook PM, a POLITICO newsletter that serves as an afternoon temperature check of California politics and a look at what our policy reporters are watching. We’ll go Monday to Thursday through June 9 before returning in August for the legislative homestretch. Got tips or suggestions? Shoot an email to [email protected] and [email protected] or send a shout on Twitter. DMs are open!
ELEMENTARY SCHOOL MASSACRE: An 18-year-old killed 14 students and one teacher at a small-town Texas elementary school this morning, the state’s Gov. Greg Abbott confirmed today. The suspect is dead, believed to be killed by the officers who responded. The governor added that the alleged shooter carried a handgun and possibly a rifle as well.
The massacre at Robb Elementary School in Uvalde, Texas, happened shortly before the California Senate approved a measure to make school officials and police investigate threats of mass violence as well as a Newsom-backed bill to make gun manufacturers and distributors liable for shootings, modeled on Texas’ abortion ban. (More on both of these below.)
Newsom, who has pitted California against Texas in his push for tighter gun control, tweeted soon after Abbott’s announcement and blamed Republicans for the tragedy. “Another shooting,” he wrote. “And the GOP won’t do a damn thing about it.” He added: “This is preventable. Our inaction is a choice,” as he called for “comprehensive” federal legislation.

GUN CONTROL: State senators today passed a bill creating a private right of action against gun manufacturers and distributors, modeled on Texas’ abortion ban. Senate Bill 1327 by Sen. Bob Hertzberg (D-Van Nuys) now heads to the Assembly for a vote before it can get the governor’s signature. — Lara Korte
SCHOOL VIOLENCE: School officials and police would have to investigate any threat or “perceived” mass shooting threat under legislation that cleared the California Senate today. The vote nearly coincided with the elementary school massacre in Texas.
Senate Bill 906 by Sen. Anthony Portantino (D-La Cañada Flintridge) says local leaders in middle and high schools would have to immediately report threats of “an incident of mass casualties” to police, who would then have to follow up on those leads.
His bill cleared easily on a party-line vote, pulling unanimous support from Democrats, and now moves to the Assembly. But ACLU California has argued that the “extremely broad definition of ‘threat or perceived threat’” would in some cases subject students “to the well-documented harms caused by contact with law enforcement.” — Blake Jones
LABOR RIGHTS FOR #CALEG — Lawmakers gathered outside the Capitol this morning to promote a renewed effort to allow legislative staffers to collectively bargain for terms of their employment. It’s a repeat of past attempts to legalize the practice, which proponents say should be the standard in such a labor-friendly state.
Assemblymember Mark Stone (D-Santa Cruz) is carrying the bill, along with 31 coauthors. Stone has dropped the labor proposal into an unrelated bill, AB 1577, which is now in the Senate. “We need to trust our workers and give them the same opportunities and the same rights and the same empowerment that we demand of other employers around this state,” Assemblymember Ash Kalra (D-San Jose) told reporters today. — Lara Korte
MONKEYPOX MESSAGING: Health officials today reported California’s first suspected case of monkeypox ina Sacramento County patient","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56b0000","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56b0001","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”> a Sacramento County patient recently returned from abroad. But the immediate message from public health experts was that the risk is low for the general population.
Monkeypox is not anywhere close to being as transmissible as Covid, as it spreads through close skin-to-skin contact, and it is not a novel virus (it was first identified in humans in 1970). But there has been an alarming rise in cases in countries that had previously had virtually no history of the disease,including the United Kingdom, Spain and Portugal","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56b0002","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56b0003","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”> including the United Kingdom, Spain and Portugal. State Epidemiologist Erica Pan is “promoting awareness amongst healthcare providers and the public,” including appropriate infection control in health facilities. The CDPH also just set up a newmonkeypox resource page","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56b0004","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56b0005","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”> monkeypox resource page. So while panic isn’t warranted, caution clearly is. — Victoria Colliver

Compiled by Juhi Doshi
UC pays record $700 million to women who accused UCLA gynecologist of sexual abuse","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56d0000","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56d0001","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>UC pays record $700 million to women who accused UCLA gynecologist of sexual abuse,” by the Los Angeles Times’ Richard Winton: “The University of California system agreed Tuesday to settle lawsuits brought by hundreds of alleged victims of a former UCLA gynecologist, bringing total litigation payouts to nearly $700 million, the largest ever related to sexual abuse involving a public university.
The latest $374.4 million in settlements covers 312 former patients who sued alleging they were abused by Dr. James Heaps under the guise of medical examinations between 1983 and 2018.”
SEIU California notches election win on CalPERS board with $240,000 in spending","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56d0002","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56d0003","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>SEIU California notches election win on CalPERS board with $240,000 in spending,” by Sacramento Bee’s Wes Venteicher: “A candidate backed by the Service Employees International Union has won election to the CalPERS board, marking the third victory by an SEIU-backed candidate in less than a year.
Mullissa Willette, 39, a tax exemption investigator with the Santa Clara County Assessor’s Office, won by a sizable margin with support from several branches of the powerful public employees’ union, according to unofficial CalPERS election results.
Willette received 62% of the vote, defeating Richard Fuentes, a Bay Area Rapid Transit special projects manager, according to CalPERS results posted online last week. Current employees of local governments with CalPERS-administered benefits could vote in the election, and 12,990 of them did so.”

The FBI has alleged Anaheim’s Mayor destroyed Angel Stadium recordsto hide from an Orange County grand jury.","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56e0001","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56e0002","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>to hide from an Orange County grand jury. (Voice of OC)
House Speaker Nancy Pelosi haschallenged the San Francisco archbishop’s decision to deny her communion","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56f0000","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56f0001","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>challenged the San Francisco archbishop’s decision to deny her communion. (SF Chronicle)
A woman in San Clemente has accepted a plea deal forher role in the breach of the U.S. Capitol on January 6th","link":{"target":"NEW","attributes":[],"url":"","_id":"00000180-fbb7-d353-a3b0-fbffa56f0002","_type":"33ac701a-72c1-316a-a3a5-13918cf384df"},"_id":"00000180-fbb7-d353-a3b0-fbffa56f0003","_type":"02ec1f82-5e56-3b8c-af6e-6fc7c8772266"}”>her role in the breach of the U.S. Capitol on January 6th. (OC Register)


If you’re on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
Credit Cards
by Tor Constantino | Published on May 20, 2022
Image source: Getty Images
CEO of MicroStrategy, Michael Saylor, said in a broadcast interview that the current crypto winter will accelerate crypto regulation and showcase Bitcoin's digital supremacy.
The Ascent's best crypto apps for 2022 (Bonuses, $0 commissions, and more)
During a Thursday video interview with Yahoo! Finance Live, MicroStrategy CEO Michael Saylor said that he believes that a single Bitcoin will be worth millions one day. He further stated that his strategy is not to sell and take profits on Bitcoin at any point in the future. "Our strategy is to buy Bitcoin and hold Bitcoin. There's no price target. I expect we'll be buying Bitcoin at the local top forever. And I expect Bitcoin is going to go into the millions. So we're very patient. We think it's the future of money," Saylor went on to say.
Saylor has been an ardent Bitcoin (BTC) bull for years, ensuring that his company puts its money where his mouth is. Based on regulatory filings in December 2021, MicroStrategy's total number of Bitcoin owned is 122,478 coins, making MicroStrategy the largest corporate owner of Bitcoin in the world that's not a cryptocurrency exchange. The number of Bitcoin that MicroStrategy holds is more than triple the amount held by the next closest corporate investor, Tesla, which reportedly has 38,300 Bitcoin within its corporate treasury.
Not only did Saylor praise Bitcoin as the best investment asset, he predicts that Bitcoin will be a premier method of financial exchange when coupled with the Lightning Network, which facilitates thousands of speedy BTC transactions at once on a global scale. "It's pretty clear that Bitcoin is the future of money, and that Lightning is the future of payment. If you're going to do payments and transactions at high-speed, you're going to need a base layer that's ethically sound, economically sound, and technically sound — and that's what Bitcoin is," Saylor said during the video interview.
Even though Bitcoin is currently trading at a 50% discount compared to its peak price of $69,000 last November, Saylor says he's not worried a bit. In fact, he says Bitcoin will ultimately benefit from this latest crypto winter, triggered by the collapse of Terra (LUNA) and its companion stablecoin TerraUSD (UST), because the deep drop across the sector serves as a hard-knocks education for crypto investors and a wakeup call to regulators, "What's going to happen is an entire generation of crypto people are going to get educated on why Bitcoin is the superior asset. And then a bunch of regulators are going to accelerate their regulation of stablecoins and accelerate their regulation of securities-crypto tokens. The winner of that entire exercise is Bitcoin," he said.
According to CoinMarketCap at time of writing, Bitcoin was trading up 3.24% at $30,304.18 per coin.

Our updated list of the best cryptocurrency apps for 2022 is packed with best-in-class picks. The cryptocurrency apps that landed on our shortlist include perks such as $0 commissions, and one pick that is offering a $50 bitcoin bonus. Check out the list here and get started on your crypto journey, today.
Get the top picks
Tor Constantino is a corporate communications executive and business writer with an MBA. Since 2017, he has written about cryptocurrencies, blockchain, and crypto’s potential to revolutionize finance. His writing has appeared in outlets including Entrepreneur, Forbes, Fortune, CEOWorld, and Yahoo!.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.
Featured Offer
100% Commission Free Crypto Trading – 4.5 Star Rating
Related Articles
Best Cryptocurrency Apps and Exchanges
Best Places to Buy Bitcoin
Cryptocurrency reviews: apps, exchanges, and brokers
Best NFT Wallets
Best Cryptocurrency Apps and Exchanges
Best Places to Buy Bitcoin
Cryptocurrency reviews: apps, exchanges, and brokers
Best NFT Wallets
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 – 2022 The Ascent. All rights reserved.


More From NBC
Follow NBC News
WASHINGTON — Democratic billionaire Sam Bankman-Fried says he could spend $1 billion or more in the 2024 election, which would easily make him the biggest-ever political donor in a single election.
Bankman-Fried, 30, the founder of the cryptocurrency exchange FTX, said in a podcast interview released Tuesday that he expects to give “north of $100 million” in the next presidential election and that he has a “soft ceiling” of $1 billion, with his spending likely to be on the higher end if former President Donald Trump runs again. 
That kind of money would be “in a league of its own,” said Alex Baumgart, a researcher with the campaign finance tracker OpenSecrets.
Bankman-Fried, who is estimated to be worth more than $20 billion and says he has already given away more than $200 million to various causes, cautions that his political plans are still in flux and that they will be contingent on what the landscape looks like. 
“I would guess north of $100 million. As for how much more than that, I don’t know. It really does depend on what happens. It’s really dependent on exactly who’s running where for what,” he said on the Pushkin Industries podcast “What’s Your Problem.” “[$1 billion] is a decent thing to look at as a — I would hate to say hard ceiling, because who knows what’s going to happen between now and then — but at least sort of as a soft ceiling.”
That amount of money would be unprecedented, and it would shatter records several times over — at least if it were all spent as so-called hard money, which includes donations to candidates, parties, super PACs and other groups who have to report to the Federal Election Commission.
It’s impossible to know how much other wealthy donors have spent to influence politics via so-called dark money, which includes donations to groups like think tanks and nonprofit advocacy organizations.
The most hard money any individual has spent in any election cycle was $218 million in 2020, by the late Republican casino mogul Sheldon Adelson and his wife, Miriam, according to OpenSecrets.
The Adelsons have competed in recent years to be the biggest donors in the country with Democratic billionaires Michael Bloomberg and Tom Steyer, who have each spent $75 million to $150 million in the last three elections (not including the money they spent on their own presidential campaigns in 2020).
Liberal billionaire George Soros this year committed to spend $125 million toward this year’s midterms.
Beyond those well-known names, even mega-donors typically top out around $40 million to $60 million per election cycle, so $100 million would put Bankman-Fried among a tiny handful of the country’s biggest donors.
“If this is sustained and it’s actually fully realized, it could have an immense impact on U.S. politics,” Baumgart said, comparing the scope of the potential spending to that of the Adelsons, the Koch brothers’ donor network and Bloomberg.
“The question is does his spending bear fruit in the midterms? And ultimately I think that will weigh pretty heavily in his decision to keep this going or not,” Baumgart added.
Bankman-Fried has spent at least $20 million this year supporting candidates in Democratic congressional primaries who have pledged to push the U.S. government to invest in stopping the next pandemic.
Bankman-Fried is an adherent of effective altruism, a utilitarian philosophy that promotes ideas like earning lots of money to give it all away.
He went into finance and started donating large parts of his paychecks long before he made his first billion, and he still lives fairly modestly, with roommates and a Toyota Corolla, with a stated goal of giving away the vast majority of his fortune as he makes it.
Critics, however, question the motives behind Bankman-Fried’s increasing involvement in politics, noting that the crypto industry has been stepping up its lobbying in Washington as lawmakers and regulators look to apply new rules to the largely unregulated industry, which has likely destroyed more fortunes than it has made.
He’s one of several crypto donors who have started spending large amounts of money in politics seemingly out of nowhere, just as the industry comes under scrutiny.
And Bankman-Fried’s biggest political investment so far didn’t pay off. He spent at least $12 million backing a little-known Oregon congressional candidate who ended up getting crushed in a Democratic primary last week.
In the podcast interview, Bankman-Fried said he would “do it a bit differently” if he could do it again, but he fundamentally stood by the decision to intervene in the race, saying he always viewed it as a low-probability, high-reward situation.
“If you’re donating to political races that you think your candidates are 99 percent to win, you’re almost certainly doing something wrong,” he said, because the candidates don’t need the help. “You should be donating such that you think you have a pretty substantial chance of losing, and I stand by that.”
Alex Seitz-Wald is senior digital politics reporter for NBC News.


  • bitcoinBitcoin (BTC) $ 20,864.00 0.95%
  • ethereumEthereum (ETH) $ 1,198.87 0.53%
  • tetherTether (USDT) $ 1.00 0.1%
  • usd-coinUSD Coin (USDC) $ 1.00 0.16%
  • bnbBNB (BNB) $ 235.38 0.05%
  • binance-usdBinance USD (BUSD) $ 1.00 0.03%
  • xrpXRP (XRP) $ 0.355994 2.19%
  • cardanoCardano (ADA) $ 0.488610 1.2%
  • solanaSolana (SOL) $ 38.84 2.04%
  • dogecoinDogecoin (DOGE) $ 0.072940 2.9%
  • polkadotPolkadot (DOT) $ 7.81 1.12%
  • shiba-inuShiba Inu (SHIB) $ 0.000011 0.45%
  • daiDai (DAI) $ 1.00 0.23%
  • tronTRON (TRX) $ 0.067003 2.46%
  • avalanche-2Avalanche (AVAX) $ 19.69 1.66%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 20,857.00 0.99%
  • leo-tokenLEO Token (LEO) $ 5.72 2.9%
  • staked-etherLido Staked Ether (STETH) $ 1,157.17 0.55%
  • matic-networkPolygon (MATIC) $ 0.536259 5.21%
  • litecoinLitecoin (LTC) $ 56.39 1.52%
  • ftx-tokenFTX (FTT) $ 27.35 0.4%
  • okbOKB (OKB) $ 12.38 0.99%
  • crypto-com-chainCronos (CRO) $ 0.125087 0.47%
  • chainlinkChainlink (LINK) $ 6.63 2.43%
  • stellarStellar (XLM) $ 0.120093 0.89%
  • nearNEAR Protocol (NEAR) $ 3.76 2.63%
  • uniswapUniswap (UNI) $ 5.42 3.72%
  • algorandAlgorand (ALGO) $ 0.333073 0.89%
  • cosmosCosmos Hub (ATOM) $ 7.89 3.55%
  • ethereum-classicEthereum Classic (ETC) $ 16.71 3.09%
  • moneroMonero (XMR) $ 121.48 3.45%
  • bitcoin-cashBitcoin Cash (BCH) $ 111.90 1.64%
  • chain-2Chain (XCN) $ 0.090580 7.62%
  • theta-fuelTheta Fuel (TFUEL) $ 0.053813 2.83%
  • flowFlow (FLOW) $ 1.75 3.35%
  • vechainVeChain (VET) $ 0.024818 0.76%
  • apecoinApeCoin (APE) $ 5.13 8.18%
  • the-sandboxThe Sandbox (SAND) $ 1.22 1.24%
  • hedera-hashgraphHedera (HBAR) $ 0.070934 2.52%
  • decentralandDecentraland (MANA) $ 0.983152 4.1%
  • tezosTezos (XTZ) $ 1.62 10.76%
  • internet-computerInternet Computer (ICP) $ 5.85 1.03%
  • theta-tokenTheta Network (THETA) $ 1.37 1.76%
  • fraxFrax (FRAX) $ 0.999675 0.15%
  • axie-infinityAxie Infinity (AXS) $ 16.20 1.2%
  • filecoinFilecoin (FIL) $ 5.84 0.73%
  • elrond-erd-2Elrond (EGLD) $ 56.65 1.57%
  • true-usdTrueUSD (TUSD) $ 1.00 0.22%
  • heliumHelium (HNT) $ 11.01 2.27%
  • bitcoin-svBitcoin SV (BSV) $ 60.43 1.69%