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Chicago Sun-Times
Chicago Sun-Times
National
Lynn Sweet

Crypto billionaire’s PAC spends nearly $1 million in Illinois Democratic congressional primaries

Political mega-donor Samuel Bankman-Fried, CEO of FTX, which operates cryptocurrency exchanges, testifying before the House Financial Services Committee on Dec. 8, 2021. (Screenshot from House Financial Services Committee hearing video)

WASHINGTON — Protect Our Future, a political action committee bankrolled by cryptocurrency billionaire Samuel Bankman-Fried, spent $914,944 to boost three Illinois Democratic primary candidates, including $500,065 for television ads to support Jonathan Jackson’s 1st Congressional District bid, according to Federal Election Commission records.

Protect Our Future spending is what the FEC calls an “independent expenditure,” with the PAC by law prohibited from coordinating or communicating with a candidate’s campaign.

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