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.”
Related: What can blockchain do for increasing human longevity?
According to an email shared with the business magazine Fortune, the remaining funds are on hold while Building a Stronger Future assesses its finances.
Open Philanthropy, the philanthropic funder which Kovite represents, later shared in a Nov. 16 post that it was seeking applications from grantees affected by the collapse of the Future Fund, and will evaluate the applications and provide funding at their discretion.
Source: Cointelegraph
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