FTX Exchange Announces Massive Philanthropic Investments In Projects That Would ‘Improve Humanity’

01.03.2022 10:56
by Nina Petrov
1 min read

FTX, a Bahamian exchange with $10 billion of daily trade volume and more than a million users, announced it will initiate a Future Fund, dedicated to creating a better future for humanity.

The FTX Foundation announced that the company will invest around $100 million in 2022, but is ready to offer up to $1 billion in promising projects. The projects that would attract FTX Foundation’s attention would involve the safe development of AI, reducing pollution and biohazard, diminished social inequalities, altruism, solidarity, and similar.

A spokesperson from FTX said that they’d like to see philanthropy develop as fast as the latest technology and tech startups.

Sam Bankman-Fried, the CEO of FTX, is the world’s richest 29-year-old and is famous for his philanthropic tendencies. Bankman-Fried is said to live by a special form of altruism, where a person intentionally decides to make a fortune in order to be able to donate it to charity.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

Trending news

Subscribe and be in touch
Click here