Reuters: FTX's charitable arm invested over $13 million in universities before its closure, with some scholars concerned about being ordered to return the grants

2023-04-06 20:22:07

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ChainCatcher news, according to a report by Reuters, the closure of FTX's charitable arm and the FTX Future Fund has left early-funded scholars and researchers without the promised funds, while other researchers are concerned about being ordered to return grants. The charity had pledged to donate $1 billion to research scholars at prestigious universities in 2022. PhD student Korbinian Kettnaker stated that after his funding from FTX failed, he was forced to abandon his research on the philosophy of computer science at the University of Cambridge.

According to an archived snapshot of its now-deleted website, as of June 2022, the fund had spent $132 million on 262 grants and investments, with further calculations based on these announcements indicating that the total amount of funding received by university-affiliated research programs exceeded $13 million. (Source link)

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