TechFlow News — FTX has announced the launch of the FTX Future Fund, a philanthropic initiative providing grants and investments to ambitious projects aimed at improving humanity's long-term future. The fund plans to allocate at least $100 million this year, with the potential to deploy up to $1 billion depending on the number of outstanding opportunities identified.
FTX stated that areas of interest for the fund include the safe development of artificial intelligence, reducing catastrophic biological risks, institutional improvement, economic growth, great power relations, effective altruism, and more. The first round of open grant applications will close on March 21.
"The foundation is a charitable organization primarily funded by SBF. When SBF was 20 years old, he decided to earn as much money as possible in order to donate all of his earnings to charity. He started initially as a trader, then founded the cryptocurrency exchange FTX. Now, he aims to use the wealth he has created to empower individuals and projects making the greatest efforts toward positive, lasting change," the announcement said.
