Sam Bankman-Fried Wanted to Pay Donald Trump $5 Billion to Not Run for President in 2024, Big Short Author Claims

USA
Last updated:
Author
Jai Pratap
Author Categories
About Author

Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

Last updated:
Why Trust Cryptonews
Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews
Source: Twitter, @realDonaldTrump

Former FTX CEO Sam Bankman-Fried explored the possibility of offering Donald Trump a staggering $5 billion to dissuade him from running for the United States presidency in 2024, Big Short author Michael Lewis revealed. 

During a 60 Minutes interview on October 1, Lewis revealed Sam Bankman-Fried’s contemplation of this audacious proposal. 

He shed light on Bankman-Fried’s perspective, explaining that SBF viewed Trump’s potential candidacy as a threat to U.S. democracy, categorizing him as an “existential risk.”

Lewis revealed that SBF had explored not only the financial feasibility of the offer but also its legality. 

SBF was among the top donors to the Democrats and also millions to Republicans. 

However, the idea never materialized because Bankman-Fried no longer possessed the required $5 billion. 

Michael Lewis’s latest book “Going Infinite: The Rise and Fall of a New Tycoon” chronicles the ascent and descent of SBF’s fortunes.

Lewis Likened FTX Collapse to Pompeii

In addition to this astonishing revelation, Lewis provided insights into his close relationship with SBF, sharing that he spent over 70 days in the Bahamas across multiple trips in 2022, forming a strong bond with the FTX founder.

Reflecting on the aftermath of FTX’s collapse in November 2022, Lewis likened it to the ruins of Pompeii, with personal belongings and company assets abandoned in the wake of the catastrophe.

As for the legal implications of these claims, representatives for both Sam Bankman-Fried and Donald Trump declined to comment.

The author-journalist claimed that if there wasn’t a run on crypto deposits on FTX, the exchange would still be there making money. 

The upcoming high-profile trial of Sam Bankman-Fried is scheduled to commence on October 3 with jury selection, followed by the formal trial proceedings starting on October 4. 

The trial will involve seven fraud cases against SBF, including two substantive charges requiring the prosecution to prove Bankman-Fried’s involvement and five conspiracy charges.

Fashion Icon Anna Wintour Wanted SBF to Sponsor Met Gala

Michael Lewis also revealed an unlikely connection between Sam Bankman-Fried and Vogue editor-in-chief and fashion icon Anna Wintour. 

Despite his reputation for casual attire, rarely deviating from shorts and a T-shirt, Wintour expressed interest in having Bankman-Fried sponsor the prestigious Met Gala. 

Lewis characterized SBF as a ‘social experiment’ with immense financial resources and a willingness to contribute generously. However, it all went exactly the opposite of what SBF set out to achieve, he added.

More Articles

Altcoin News
Crypto.com Can Now Expand Services to All European Economic Area Member States
Ruholamin Haqshanas
Ruholamin Haqshanas
2025-02-12 16:01:23
Blockchain News
Thai Police Arrest Four Russians for Crypto Ransomware Attack on Swiss Companies
Jimmy Aki
Jimmy Aki
2025-02-12 15:34:46
Crypto News in numbers
editors
Authors List + 66 More
2M+
Active Monthly Users Around the World
250+
Guides and Reviews Articles
8
Years on the Market
70
International Team Authors