FTX Raises $1 Billion for “Humanity’s Long-Term Prospects”
Cryptocurrency exchange FTX has created a charitable fund to invest in projects on a humanity-wide scale.
FTX representatives announced in a blog the establishment of the FTX Future Fund, a charitable fund that will invest in large-scale projects that can “improve humanity’s long-term prospects.”
The fund will initially have $100 million in assets, but it will potentially grow to $1 billion if there are “interesting projects” to invest in.
Among the main areas of investment stated are:
- fighting global poverty and reducing biorisk dangers;
- global economic growth and effective altruism;
- easing the relationship between “great powers”;
- developments in the field of artificial intelligence, etc.
The fund will be part of the FTX Foundation, including the FTX Climate and the FTX Community. The activity of the latter two organizations is focused on climate change, animal rights, global poverty, and other socially relevant issues.