Crypto Derivatives Exchange FTX to Donate Up to $1B to Charitable Foundation
Crypto exchange FTX has recently announced it has created a $100 million charitable fund, dubbed Future Fund, with the potential to increase to $1 billion. According to the crypto platform, the funds will be used to invest in “ambitious projects to improve the long-term prospects of humanity.”
According to the company, the capacity of the fund will increase if there are “interesting projects.”
The Future Fund will focus on supporting startups related to AI, the fight against global poverty and the risks of a biochemical catastrophe. Some of its goals are the improvement of institutions, economic growth, relations between the “great powers” and effective altruism.
The structure will become a division of the FTX Foundation, which also includes FTX Climate and FTX Community, which focus on climate change, global poverty, animal welfare and other issues of importance to the community.
Interested parties can file applications to participate in the first round of funding till March 21.