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News

The Team Behind FTX Future Fund Has Resigned

November 11, 2022 - Around 2 mins mins to read
On Thursday, the staff of the FTX Future Fund, one of the FTX Foundation’s branches, announced their resignation.
The Team Behind FTX Future Fund Has Resigned
The Team Behind FTX Future Fund Has Resigned 3

The group expressed their devastation that it appears that there are many pledged grants that the Future Fund will not be able to honor in its letter.

The team wrote in a post on Effective Altruism Forum:

“We are now unable to perform our work or process grants, and we have fundamental questions about the legitimacy and integrity of the business operations that were funding the FTX Foundation and the Future Fund.”

The Team Behind FTX Future Fund Has Resigned
The Team Behind FTX Future Fund Has Resigned 4

Sam Bankman-Fried, the CEO of the exchange, has made an effort to commit to making sizable personal and corporate donations. However, it was not as expected.

“We are so sorry that it has come to this. To the extent that the leadership of FTX may have engaged in deception or dishonesty, we condemn that behavior in the strongest possible terms. We believe that being a good actor in the world means striving to act with honesty and integrity,” te letter wrote.

The FTX exchange is still struggling with the crisis and can lead to bankruptcy if it cannot mobilize support.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

FTX

FTX Foundation

FTX Future Fund

Sam Bankman-Fried

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

The Team Behind FTX Future Fund Has Resigned

On Thursday, the staff of the FTX Future Fund, one of the FTX Foundation’s branches, announced their resignation.
The Team Behind FTX Future Fund Has Resigned
The Team Behind FTX Future Fund Has Resigned 7

The group expressed their devastation that it appears that there are many pledged grants that the Future Fund will not be able to honor in its letter.

The team wrote in a post on Effective Altruism Forum:

“We are now unable to perform our work or process grants, and we have fundamental questions about the legitimacy and integrity of the business operations that were funding the FTX Foundation and the Future Fund.”

The Team Behind FTX Future Fund Has Resigned
The Team Behind FTX Future Fund Has Resigned 8

Sam Bankman-Fried, the CEO of the exchange, has made an effort to commit to making sizable personal and corporate donations. However, it was not as expected.

“We are so sorry that it has come to this. To the extent that the leadership of FTX may have engaged in deception or dishonesty, we condemn that behavior in the strongest possible terms. We believe that being a good actor in the world means striving to act with honesty and integrity,” te letter wrote.

The FTX exchange is still struggling with the crisis and can lead to bankruptcy if it cannot mobilize support.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News