FTX's charity arm, Future Fund, had committed more than $160 million to more than 110 nonprofit organizations.
At the end of September, FTX's charity arm, Future Fund, had committed more than $160 million to over 110 nonprofit organizations, including biotech startups and university researchers developing Covid-19 vaccines and working on pandemic studies, as well as nonprofit organizations in India, China and Brazil.
As per the report, Future Fund committed $3.6 million to AVECRIS, a company working on a genetic vaccine platform, and another $5 million were donated to Atlas Fellowship for scholarships and high-school summer programs in San Francisco. A spokesperson for Bankman-Fried said that charitable donations were not made from customer deposits, but from trading profits.in its first year and reach up to $1 billion in donations.
1/ We're thrilled to announce the FTX Foundation's Future Fund. We make grants and investments to ambitious projects to improve humanity's long-term prospects.
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