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"FTX's 'Effective Altruism' Future Fund Team Resigns" (Nov 10, 2022)
webThis article documents the fallout of the FTX collapse on AI safety and EA philanthropy, relevant to understanding funding landscape disruptions and governance risks in the AI safety ecosystem circa 2022.
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Importance: 45/100news articlenews
Summary
The leadership team of FTX's Future Fund, a major EA-aligned philanthropic initiative funded by Sam Bankman-Fried, resigned en masse following the collapse of FTX in November 2022. The team expressed shock and distress over the alleged misuse of customer funds, noting their grants and pledges may not be honored. This event marked a significant crisis for EA-aligned AI safety funding.
Key Points
- •Future Fund team resigned citing inability to continue work amid FTX's collapse and alleged misuse of customer funds
- •The Future Fund had committed hundreds of millions of dollars to EA and AI safety causes, much of which may not be fulfilled
- •Team members expressed they were unaware of and deeply troubled by the alleged financial misconduct at FTX
- •The collapse severely damaged EA's reputation and disrupted AI safety funding pipelines dependent on FTX-linked capital
- •Event raised concerns about concentration risk in AI safety funding and the dangers of relying on a single major donor
Cited by 1 page
| Page | Type | Quality |
|---|---|---|
| FTX Collapse: Lessons for EA Funding Resilience | Concept | 78.0 |
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# FTX's 'Effective Altruism' Future Fund Team Resigns
## In an open letter, the team said it was unable to perform their work or process grants and have "fundamental questions" about the legitimacy and integrity of business operations.
By [Sam Reynolds](https://www.coindesk.com/author/sam-reynolds)
Updated May 9, 2023, 12:02 a.m. Published Nov 10, 2022, 10:45 p.m.
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