{"id":37818,"date":"2023-01-07T17:46:38","date_gmt":"2023-01-07T17:46:38","guid":{"rendered":"https:\/\/lydian.io\/?p=37818"},"modified":"2023-01-07T17:46:39","modified_gmt":"2023-01-07T17:46:39","slug":"sam-bankman-frieds-charitable-donations-sought-by-ftx-report","status":"publish","type":"post","link":"https:\/\/lydian.io\/sam-bankman-frieds-charitable-donations-sought-by-ftx-report\/","title":{"rendered":"Sam Bankman-Fried's charitable donations sought by FTX: report","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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FTX's new administration is making an attempt to recoup hundreds of thousands of {dollars} in donations from the crypto trade and its former CEO, Sam Bankman-Fried. reports<\/a> The Wall Avenue Journal. <\/p>\n On the finish of September, FTX's charity arm, Future Fund, had dedicated greater than $160 million to over 110 nonprofits, together with biotech startups and college researchers creating Covid-19 vaccines and dealing on pandemic research, in addition to nonprofits in India. China and Brazil. <\/p>\n In accordance with the report, Future Fund has pledged $3.6 million to AVECRIS, an organization engaged on a genetic vaccine platform, and one other $5 million has been pledged to Atlas Fellowship for scholarships and highschool summer time applications in San Francisco donated. <\/p>\n A spokesman for Bankman-Fried mentioned charitable donations could be produced from buying and selling income moderately than from buyer deposits.<\/p>\n The charity arm was introduced in February 2022 and plans to boost over $100 million and attain as much as $1 billion in donations in its first yr.<\/p>\n 1\/ We're happy to announce the FTX Basis Future Fund. We fund and spend money on formidable initiatives to enhance humanity's long-term prospects.<\/p>\n We plan to wager over $100 million this yr, and probably way more (as much as $1 billion in precept).https:\/\/t.co\/kIWdm48LZ4<\/a><\/p>\n \u2014 Future Fund (@ftxfuturefund) February 28, 2022<\/a><\/p>\n Donations have been held regardless of the autumn in crypto costs. On September 23, Future Fund's Twitter profile introduced \"a good portion\" of the capital to be devoted to analysis and initiatives engaged on synthetic normal intelligence (AGI) danger administration, with costs as much as 1.5 Thousands and thousands of {dollars}, in addition to 1000's of {dollars} in rewards for many who \"finest criticize our views on the way forward for synthetic intelligence\". <\/p>\n Associated: Firms and traders might need to repay billions of funds paid by FTX<\/strong><\/p>\n We make huge bets - a good portion of our capital - on AGI xrisk. However we expect it is actually attainable that we're mistaken!<\/p>\n Immediately we're asserting prizes starting from $15,000 to $1.5 million to alter the way in which we (or Superforecasters) take into consideration AGI. Take part till December twenty third!https:\/\/t.co\/ZBG0nFnW8E<\/a> pic.twitter.com\/Xd6M645h3s<\/a><\/p>\n