Sam Bankman-Fried is backing down from a previous comment suggesting he could spend $1 billion or more in races from now through the 2024 election.
But for now, Bankman-Fried is hitting pause on his political campaign spending, telling Politico that, "At some point, when you've given your message to voters, there's just not a whole lot more you can do."
The crypto market has tanked since Bankman-Fried first pledged to spend hundreds of millions of dollars earlier this year. For his part, Bankman-Fried has been spending a lot of money the last few months to prop up the digital asset industry during the 2022 crypto winter.
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