Sam Bankman-Fried was the poster boy for 'effective altruism.' Now, its followers are heartbroken and critics are questioning its 'weird' funding setup.

Quick Summary:

Since the FTX crypto empire collapsed, research fellowships have been scrapped and a Chicago basic-income program has been pushed back.

Bankman-Fried had advocated effective altruism, a philosophy that calls on followers to earn as much as they can so they can give as much as possible to charities and causes that benefit the greatest number of people.

Kemp told Insider that it was "just mind-boggling" that the effective-altruism movement had been set to receive a significant amount of funding from crypto, "an area which is renowned to be highly volatile and has a really high base rate of scams".

Read Quick SummarySave Time

or

Article Details

Category: Economy

Markets: United States

Topics: Philosophy Ftx bankruptcy Tech Ftx SBF Alameda research FTX collapse Sam Bankman-Fried Markets News Crypto Effective altruism Cryptocurrency Longreads BI UK Technology Tech Insider

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-03 @ 09:00:00 (3 months ago)

News Timezone: GMT -5:00

News Source URL: businessinsider.com

Language: English

Article Length: 1098 words

Reading Time: 7 minutes read

Sentences: 64 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Insider

News ID: 2115915

View Article Analysis

About Business Insider

Main Topics: EconomyBusiness

Official Website: businessinsider.com

Update Frequency: 106 posts per day

Year Established: 2007

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #64

Publisher Details

Frequently Asked Questions