FTX exec launches new Republican PAC with $4 million donation

Ryan Salame, co-CEO of FTX Digital Markets, has launched a new political action committee. 

First reported by Politico's Stephanie Murray, the American Dream Federal Action PAC aims to support "forward-looking conservative leaders who understand the urgency of advancing smart policies that set America up for success."

"We believe 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," the PAC's site says. 

In keeping with that push, Salame is said to be putting $4 million into the new initiative. Federal Election Commission data shows the PAC's registration date as March 14 but has not reflected any first wave of donations. PACs are limited to donating $5,000 to any particular candidate but can spread those donations across a vast range of local, state and federal politicians and affiliate committees in any given election year.  

FTX Digital Markets is a subsidiary of FTX Trading, the crypto exchange's global operation. Salame joined the firm in September as it received licensing to set up shop in the Bahamas, leaving a role at linked trading firm Alameda Research. 

FTX's founder, Sam Bankman-Fried, was one of the largest contributors to then-candidate Joe Biden's 2020 run for the presidency. The firm, and Bankman-Fried in particular, have become notably visible in Washington, DC as representatives of the cryptocurrency industry.