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They have a lot of cash, but SBF theoretically could close shop and cash out if he feels the amount of money he will be able to donate will be down for the long
by EddySchauHai 4y ago
They have a lot of cash, but SBF theoretically could close shop and cash out if he feels the amount of money he will be able to donate will be down for the longterm. The entire point of FTX, ultimately, is to take money from crypto traders and put it into Effective Altruism charities.
- instakill 4y ago
- smalldick 4y ago> The entire point of FTX, ultimately, is to take money from crypto traders and put it into Effective Altruism charities. The entire point of FTX is to profit from the unregulated crypto markets by front-running his clients with the FTX-Alameda combo and pump (to bring in new cows to milk) and dumping (to crash the markets and buy sinking companies on fire sale) the markets; while waving the altruism flag.
- EddySchauHai 4y agoI am partially involved with the EA community and know he does indeed donate, I don't believe it's just a case of waving an altruism flag but completely genuine efforts.
- colinmhayes 4y agoI mean both can be true. SBF has perhaps been too gung ho with his EA donations, burning enormous piles of cash down some very deep rabbit holes. And he got that money by using his market maker to front run his own exchange.