Crypto Exchange FTX Bats Down DC Super PAC Story

The crypto derivatives exchange said it had “no plans to establish any PAC or super PAC.”

Oct 5, 2021 at 2:55 a.m. UTC
Updated Oct 5, 2021 at 2:43 p.m. UTC

James Rubin is CoinDesk's U.S. news editor based on the West Coast.

FTX has denied a Decrypt story on Monday that the cryptocurrency derivatives exchange would be creating a political action committee (PAC) that would operate in Washington and be led by its founder and CEO, Sam Bankman-Fried.

  • “FTX has no plans to establish any PAC or super PAC nor are we looking to hire any director,” the company said in a statement.
  • The Decrypt article cited two unnamed sources “familiar with the matter,” and said that FTX would “advocate for crypto interests” through the PAC.
  • In separate tweets on Monday evening, FTX and Bankman-Fried also denied the Decrypt story. “I have no idea where the recent PAC-related rumors are coming from,” Bankman-Fried tweeted.
  • A source at another crypto exchange told CoinDesk they knew FTX is looking for lobbyists but hadn’t heard of any PAC plans.




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James Rubin is CoinDesk's U.S. news editor based on the West Coast.

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James Rubin is CoinDesk's U.S. news editor based on the West Coast.

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