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Bankman-Fried’s ‘Effective Altruism’ Implodes With His Fortunes

  • FTX co-founder had big plans to donate his crypto wealth
  • Team at FTX Foundation resigns, says likely can’t honor grants
Bloomberg business news
Bankman-Fried Has Resigned as CEO of FTX

With Sam Bankman-Fried’s crypto empire on the brink of utter collapse, the lofty promises he made about becoming an influential up-and-coming player in the world of philanthropy suddenly carry little weight.

That reality has hit the FTX Foundation, where its Future Fund team resigned.