Sam Bankman-Fried, co-founder and chief executive officer of FTX, in Hong Kong, China, on Tuesday, May 11, 2021.

WASHINGTON —Democratic billionaire Sam Bankman-Fried says he could spend $1 billion or more in the 2024 election, which would easily make him the biggest-ever political donor in a single election.

Bankman-Fried, the 30-year-old founder of the cryptocurrency exchange FTX, said in a podcast interview released Tuesday that he expects to give "north of $100 million" in the next presidential election and has a "soft ceiling" of $1 billion, with his spending likely to be on the higher end if former President Donald Trump runs again.