The fall of crypto exchange FTX appears to have already begun to impact the hundreds of grant recipients across a variety of philanthropic organizations backed by the exchange.
During the COVID-19 pandemic, FTX founder Sam Bankman-Fried became known for backing a number of causes aimed at “humanity’s long-term prospects.”
One of these was the FTX Foundation and its FTX Future Fund, which publicly launched on Feb. 28 and reported on Jun. 30 that it had made 262 grants and investments totaling $132 million in projects — many of these involved in pandemic preparedness, among other scientific pursuits.
However, the leadership team of the Future Fund announced their resignation on Nov. 11 in a group post noting:
“We are devastated to say that it looks likely that there