EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

FTX Foundation’s Future Fund Team Resigns

Admin by Admin
November 11, 2022
in Crypto News
0
FTX Spent $1.3B In Celebrity Promotion And Deals, Trial Reveals
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter
Event Event

The team behind the FTX Foundation’s Future Fund has quit. The fund had planned to distribute up to $1 billion this year.

The team behind FTX Future Fund, a project of the FTX Foundation, has quit.

We were shocked and immensely saddened to learn of the recent events at FTX. The team wrote in a post on Effective Altruism Forum, adding: “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.”

FTX Future Fund was launched in February of this year to improve humanity’s long-term prospects. It planned to distribute at least $100 million and up to $1 billion this year.

The foundation itself was established last year by FTX CEO Sam Bankman-Fried. But in a shocking turn of events over the last week, Bankman-Fried’s net worth has declined from around $16 billion to less than $1 billion.

FTX reportedly tapped customer assets to fund the risky bets of its affiliated trading firm, Alameda Research — setting up its implosion. Alameda is said to owe FTX about $10 billion. FTX paused customer withdrawals earlier this week and the crisis forced the exchange to scramble for emergency funding.

Alameda Research has since been shut down. But to the extent that the leadership of FTX may have engaged in deception or dishonesty.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: CryptoFTX
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

BlockFi Halts Withdrawals As FTX Contagion Spreads

Next Post

FOREX: Naira (NGN) Rebounds to 720/USD

Admin

Admin

Next Post
Naira (NGN) Rebounds

FOREX: Naira (NGN) Rebounds to 720/USD

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Axie Infinity price

Axie Infinity Price Eyes 25% Gains Ahead of the Token Unlock

April 21, 2023
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
XAGUSD pair

XAG/USD Climbs to Mid-$19.00s

4
Premier League Considering Partnership With NFT Crypto Platform

Premier League considering partnership with NFT crypto platform

2
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
Binance Pauses UK New User Registrations

Binance Proof-Of-Reserve Pledge Earns Support Following FTX Crisis

2
RISK MANAGEMENT

What is Risk Management in Financial Market Trading

November 29, 2023
Chart patterns

Top 10 Chart Patterns Every Trader Should Know

November 29, 2023
SEC Continues Probe Into Binance.US For Potential Fraud Similar To FTX Case

SEC Continues Probe Into Binance.US For Potential Fraud Similar To FTX Case

November 28, 2023
aud nzd

Economists at MUFG Bank Analyze AUD/NZD Pair

November 28, 2023

Recent News

RISK MANAGEMENT

What is Risk Management in Financial Market Trading

November 29, 2023
Chart patterns

Top 10 Chart Patterns Every Trader Should Know

November 29, 2023
SEC Continues Probe Into Binance.US For Potential Fraud Similar To FTX Case

SEC Continues Probe Into Binance.US For Potential Fraud Similar To FTX Case

November 28, 2023
aud nzd

Economists at MUFG Bank Analyze AUD/NZD Pair

November 28, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Entertainment
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

RISK MANAGEMENT

What is Risk Management in Financial Market Trading

November 29, 2023
Chart patterns

Top 10 Chart Patterns Every Trader Should Know

November 29, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>