On Thursday, the staff of the FTX Future Fund, one of the FTX Foundation’s branches, announced their resignation.
The group expressed their devastation that it appears that there are many pledged grants that the Future Fund will not be able to honor in its letter.
The team wrote in a post on Effective Altruism Forum:
“We are now unable to perform our work or process grants, and we have fundamental questions about the legitimacy and integrity of the business operations that were funding the FTX Foundation and the Future Fund.”
Sam Bankman-Fried, the CEO of the exchange, has made an effort to commit to making sizable personal and corporate donations. However, it was not as expected.
“We are so sorry that it has come to this. To the extent that the leadership of FTX may have engaged in deception or dishonesty, we condemn that behavior in the strongest possible terms. We believe that being a good actor in the world means striving to act with honesty and integrity,” te letter wrote.
The FTX exchange is still struggling with the crisis and can lead to bankruptcy if it cannot mobilize support.
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