Billion Dollar Philanthropy: FTX Announces New Fund to “Improve Humanity’s Long-Term Prospects”


FTX Future Fund, the philanthropic fund of FTX Co-Founder and CEO Sam Bankman-Fried (aka “SBF”) is investing up to $1 billion this year “making grants and investments to ambitious projects in order to improve humanity’s long-term prospects.”

According to the website of Future Fund, which is “funded primarily by Sam Bankman-Fried, with major contributions from Caroline Ellison, Gary Wang, and Nishad Singh”, the FTX CEO “wants to use the wealth he’s generated to empower people and projects that are doing the most to make positive, long-lasting change,” and he’s “hoping to donate over a billion dollars to great organizations over the next few years, and more after that.”

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The blog post announcing this project of the FTX Foundation mentioned that although they had a long list of “project ideas” they wanted to fund, this list is not “exhaustive” and that they are “open to a broad range of ideas.” They also mentioned that “areas of interest include the safe development of artificial intelligence, reducing catastrophic biorisk, improving institutions, economic growth, great power relations, effective altruism, and more.”

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On February 28, the day Future Fund was announced, SBF took to Twitter to say:

  • There are billions of people alive today. There are trillions of people who could live great lives if we leave behind a better world to our children.
  • I’ve been part of the effective altruism community for about a decade, and I’m honored to work with some of the best people I’ve ever met on making the world a better place.
  • Our plan at the Future Fund: Use critical, quantitative thinking and logic to try to do as much good as we can for the future of the world.

Disclaimer

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.




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