The FTX platform has launched a new program called the Future Fund. This is a philanthropic fund that will make grants and investments to “ambitious projects that aim to improve the long-term prospects of humanity.”
FTX continues on the path of philanthropy
Cryptocurrency exchange FTX has just unveiled the creation of Future Fund, a fund with the potential to reach $1 billion, which will invest in major philanthropic projects.
Future Fund, which reports directly to FTX’s philanthropic arm, the FTX Foundation, will invest at least $100 million this year. According to a Future Fund release, the entity could allocate up to $1 billion to its initiative if it identifies enough projects that it finds attractive.
Future Fund’s areas of focus are numerous and include the safe development of artificial intelligence, biological disaster reduction, institutional improvement, economic growth, great power relations, effective altruism, space governance, and more.
Future Fund is primarily funded by Sam Bankman-Fried, the CEO and co-founder of FTX, with significant contributions from Caroline Ellison, Gary Wang, and Nishad Singh, members of the platform’s executive team.
The philanthropic fund has already begun operations and has launched:
- a call for projects wishing to apply for funding (to be submitted by March 21);
- a grant program;
- a project idea competition, with a $5,000 prize for the best proposals (to be submitted by March 7).
- If you would like to submit your idea to Future Fund, simply fill out this form.
Note that both nonprofit and for-profit organizations will be considered, as long as their mission is aligned with FTX’s.
This is not the first time the FTX platform has created an initiative like this. Since February 2021, the company has been donating 1% of its profits to charity. Since the inception of this scheme, FTX has donated nearly $9.6 million to several associations.
