FTX's charity arm, Future Fund, had committed more than $160 million to more than 110 nonprofit organizations.
At the end of September, FTX's charity arm, Future Fund, had committed more than $160 million to over 110 nonprofit organizations, including biotech startups and university researchers developing Covid-19 vaccines and working on pandemic studies, as well as nonprofit organizations in India, China and Brazil.
As per the report, Future Fund committed $3.6 million to AVECRIS, a company working on a genetic vaccine platform, and another $5 million were donated to Atlas Fellowship for scholarships and high-school summer programs in San Francisco. A spokesperson for Bankman-Fried said that charitable donations were not made from customer deposits, but from trading profits.in its first year and reach up to $1 billion in donations.
1/ We're thrilled to announce the FTX Foundation's Future Fund. We make grants and investments to ambitious projects to improve humanity's long-term prospects.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX lawyer tied to poker scandal reportedly flipped on Sam Bankman-FriedFTX’s former “chief regulatory officer” Dan Friedberg reportedly flipped on Sam Bankman-Fried in late November.
Read more »
US Government Seizes Robinhood Shares Linked to FTX Founder Sam Bankman-Fried – Regulation Bitcoin NewsThe U.S. Department of Justice (DOJ) is seizing Robinhood shares, worth about $460 million, linked to former FTX CEO Sam Bankman-Fried (SBF). $HOOD crypto
Read more »
Why FTX Investors Fell Under the Sway of Sam Bankman-FriedHow Sam Bankman-Fried talked—and even how he dressed—may have subconsciously induced people to trust him. Here's why, according to BradleySMurray
Read more »
FTX Seeks to Recoup Sam Bankman-Fried’s Charitable DonationsFTX and its founder doled out millions in donations before the crypto exchange went bankrupt. Now the nonprofits wonder: What should they do with the money?
Read more »
Bankman-Fried tells FTX debtors to leave his Robinhood shares aloneFTX co-founder Sam Bankman-Fried has filed a court action seeking to block debtors from taking control over his $450 million stake in brokerage Robinhood.
Read more »
Sam Bankman-Fried Seeks to Keep Grasp on $450M in Robinhood SharesThe FTX founder, who says he needs the money to pay his legal fees, is fighting rival claims to the stake by his former company and crypto lender BlockFi.
Read more »