FTX Digital Co-CEO Launches Crypto PAC as Midterm Elections Draws Near

Ryan Salame, the co-CEO of FTX Digital Markets has launched a new Political Action Committee (PAC) dubbed the American Dream Federal Action.

The PAC seeks to support forward-looking leadership for a strong America and comes off as one of many PACs being backed by prominent crypto personalities.

The interest of digital currency executives cannot be disconnected from the move to help enshrine forward-thinking policies that can only be made possible through the ascension of the right individuals with the right propensity for the growth of emerging technologies. 

While the PACs are developed primarily to support candidates, the involvement of these crypto personalities has showcased that the nascent asset class seeks revolution beyond just the financial ecosystem and other industries it is currently impacting.

Salame is bootstrapping the PAC with a $4 million funding, with expectations of donations from well-meaning citizens. 

“We look forward to supporting forward-looking conservative leaders who understand the urgency of advancing smart policies that set America up for success,” Salame said in a statement announcing the PAC.

As gleaned from the PAC’s website, the organization said it believes that;

“Public policy solutions should have a positive impact on people’s lives and play a vital role in protecting Americans’ freedoms, biosecurity, and system of free enterprise."

Salame’s growing exploit with the new PAC trails related to moves from Sam Bankman-Fried, the co-founder and Chief Executive Officer of FTX Derivatives Exchange. Per a Forbes report, Bankman-Fried soared to prominence in the political landscape as he shelled out the sum of $5 million to back current U.S. President Joe Biden’s campaign through a Super PAC. 

Digital currencies represent an innovative technology and a sprawling industry that is gradually becoming noticeable amongst politicians in Washington and around the country. While the receipt of campaign donations through Bitcoin has become the order of the day, leaders like Colorado’s Governor are making serious concessions by permitting crypto to be received as payment for taxes in the state.

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