The Vanishing of SBF’s ‘Effective Altruism” | Bloomberg Crypto
December 7, 2022
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17:47Now PlayingThe Vanishing of SBF’s ‘Effective Altruism” | Bloomberg Crypto
YouTube Description
as posted by the channelSam Bankman-Fried used to say he was a man on a mission. That mission: giving away more than a billion dollars in the service of a movement known as “effective altruism." Through personal giving, and through a philanthropic unit called the FTX Foundation, Bankman-Fried appeared to support causes ranging from pandemic prevention to research into climate change.
Fast forward a bit, and that message of “using wealth to empower people and projects that are doing the most to make positive, longlasting change” a marketing line from the FTX Foundation’s website now rings hollow ().
Bloomberg reporters Sophie Alexander and Laura Davison join this episode with the backstory on SBF and effective altruism.
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Crypto is the world's hottest financial trend. Digital tokens like Bitcoin and NFTs have moved from niche products to showing up in Super Bowl commercials and song lyrics. Advocates of these new asset classes promise they will democratize the finance industry, and they hail the blockchain technology that backs it all as the future of computing. Skeptics say it's another financial house of cards. No newsroom on the planet is better equipped than Bloomberg to cut through all the noise and provide clarity, context and authority.
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