FTX, a global crypto trading platform, has announced the FTX Future Fund, which aims to promote long-term advancements for humanity. The initiative will invest up to a billion dollars in projects concentrating on safe artificial intelligence development, biorisk reduction, effective altruism, and other topics. According to the release, the team will assist both non-profit and for-profit enterprises as long as they correspond with the fund’s objective, which includes solving challenges such as poverty and ecological difficulties. The fund will also seek initiatives that advance technical growth.
Sam Bankman-Fried, the CEO of FTX, is the primary backer of the initiative. Caroline Ellison, Gary Wang, and Nishad Singh are just a few of the notable names. Furthermore, Leopold Aschenbrenner, William MacAskill, and Ketan Ramakrishnan will join the team as leaders of the FTX Foundation.
According to Bankman-Fried, the growing European turmoil may cause individuals to seek alternatives, making BTC an appealing choice. In January, the FTX branch in the United States concluded a $400 million investment round, resulting in a $8 billion value. The investment will be used to grow the company’s employees in the United States and increase the company’s product offerings.