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.
According to the report, 20 academics from prestigious colleges, including Cornell, Princeton, and Brown universities in the United States, as well as Cambridge in Britain, received grants from the FTX philanthropy arm totaling more than $100,000 each. Further calculations based on these announcements suggest university-affiliated research initiatives got a total of more than $13 million.
Others who did receive a full grant have found themselves in an ethical battle over whether to use the grant or return the funds, which might be part of stolen customers’ funds, as per the lawsuit against the crypto exchange and its founders. While FTX asked recipients of payments from the debtors in the FTX bankruptcy filing to return their funds in an announcement, it didn’t mention the FTX Futures Fund. However, a lawyer based in the U.S. suggested that it will depend on the FTX trustees and their willingness to claw back small amounts, including philanthropic ones.
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