FTX philanthropic donations have created a complex dilemma for recipients
University-affiliated research initiatives received more than $13 million in grants from FTX Future Fund, with several students getting $100,000 in grants. The collapse of the FTX exchange and its subsidiaries in November 2022 also led to the shutdown of its philanthropic arm, FTX Future Fund. The philanthropic arm had pledged $1 billion in donations in 2022 towards research academics across prestigious universities. However, the team behind the project resigned right after FTX filed for bankruptcy on Nov. 11, 2022. Many scholars and researchers who were early recipients of the grant are now stuck in limbo over payment of further grants for their programs. According to a report published by Reuters, many Ph.D. students who were studying on the FTX grant were forced to drop out of the course owing to the fear of repayment. A summary of the FTX Future Fund's activities revealed that the fund was sponsored by former CEO Sam Bankman-Fried. The focus of the grant revolved around resea...