FTX Foundation
FTX Foundation was a private philanthropic collective associated with cryptocurrency giant FTX and its founder Sam Bankman-Fried. Working under the banner of effective altruism, it issued grants and investments to “improve global health, prevent pandemics, reduce animal suffering, protect the climate and improve humanity's prospects of long-term survival and flourishing.”1)
Activities
Grants
Organization
The foundation operated several subsidiary projects including the Future Fund and FTX Climate.
The foundation was associated with the Clean Air Task Force, Effective Altruism Global, GiveWell and the Humane League.4)
Funding
The majority of the Foundation's funding is provided by Sam Bankman-Fried and other senior principals at FTX. FTX users and employees also support the Foundation's activities, through the FTX Giving program, by contributing to FTX Philanthropy Inc., a non-profit organization organized for tax-exempt purposes.
Personnel
| Name | Position | Affiliation(s) |
|---|---|---|
| Nick Beckstead | CEO | Open Philanthropy, Future of Humanity Institute, Centre for Effective Altruism |
| Ross Rheingans-Yoo | Special Project Lead5) | Center of Mathematical Sciences and Applications, Harvard University, Jane Street Capital, Systems Research at Harvard (SYRAH) |
1)
About. FTX Foundation. Retrieved November 17, 2022, from https://archive.ph/LQNUW
2)
Service, R. F. (2022, November 14). Crypto company’s collapse strands scientists. Science. https://web.archive.org/web/20221223104201/https://www.science.org/content/article/crypto-company-s-collapse-strands-scientists
3)
Hyatt, J. (2022, November 22). This Climate Change Nonprofit Didn’t Ask For FTX’s Money–But Got $200,000 Anyway. Forbes. https://web.archive.org/web/20221223200337/https://www.forbes.com/sites/johnhyatt/2022/11/22/this-climate-change-nonprofit-didnt-ask-for-ftxs-moneybut-got-200000-anyways/?sh=6e344a695e9c
4)
Home. FTX Foundation. Retrieved June 25, 2022, from https://web.archive.org/web/20220625130718/https://www.ftxfoundation.org/
5)
Ross Rheingans-Yoo. CypherHunter. Retrieved March 8, 2023, from https://web.archive.org/web/20230308005223/https://www.cypherhunter.com/en/p/ross-rheingans-yoo/