FTX pledged $600,000 to an anti-racist non-profit, but the money never arrived and Sam Bankman-Fried's father wrote to apologize

Buyerself.com, is a shopping platform where buyers can purchase products and services at their desired prices. It also serves as a tool for sellers to find real buyers by publishing purchase orders in their local areas or countries. With Buyerself.com, users can easily find buyers in their proximity and in their country, and can easily create purchase orders. Buyerself.com and our apps are available for download on iOS and Android devices, and can be signed up with a single email. Sign up now and start shopping for your desired products and services at your target prices, or find real buyers for your products with Buyerself.com. Sign up now and start selling

The Buyerself mobile application offers great advantages to its first users. Download and enjoy the benefits.

The FTX logo is seen at the FTX Arena in Miami, Fla.Marco Bello/Reuters
Sam Bankman-Fried's father offered $600,000 to anti-racism program EAT on behalf of FTX.
But the money never came after the company went bankrupt.
SBF's father told the charity he was "heartbroken" but was spending his money defending his son.
FTX pledged $600,000 to a Chicago-based nonprofit, but the money never arrived after the company's nonprofit arm lost its funds and fired its employees, the New York Times reported.
ADVERTISEMENT
Sam Bankman-Fried's father, Joseph Bankman, recommended programs that help close the racial wealth gap, which he believes FTX should donate to.
One such organization was Chicago-based Equity and Transformation, abbreviated EAT. It works to dismantle racism and give a voice to ex-prisoners and "informal workers" which include sex workers and people who sell fake DVDs.
Bankman emailed Richard Wallace, the founder of EAT, and offered to donate on behalf of FTX. The crypto exchange then pledged to give the nonprofit $600,000, and the news was tweeted by think tank members after a consulting firm hired by FTX urged them to praise the program.
But when FTX filed for bankruptcy on Nov. 11, Bankman wrote to Wallace to express his sadness that the money wasn't going through.
ADVERTISEMENT
The crypto exchange's charitable arm, the FTX Foundation, had no funds and all employees had resigned.
Bankman, a law professor at Stanford University, told Wallace he would have funded half of the $600,000 himself if FTX could have contributed the other half.
He said he couldn't donate the entire sum himself because: "I'm going to spend essentially all of my resources on Sam's defense."
Reuters reported that Bankman-Fried's parents were signatories to a luxury beach-access home in a gated community in the Bahamas that documents said was a "vacation home." A spokesman for the couple said they tried to return ownership of FTX.
ADVERTISEMENT
After the New York Times report was published on Tuesday, Wallace tweeted, "The billionaire class has often used the trauma and injustices in black communities to build power and influence by leveraging their resources in the form of grants and donations. "
"These grants and donations are never big enough to address the real causes of injustice, but the grants give them the social capital," he added.
Bankman, Wallace and FTX did not respond to Insider's request for comment.
Read the original article on Business Insider

Last News

After becoming NBA’s all-time leading scorer, what may have been LeBron James’ secret weapon? His memory

Woman Claims She Lied As A Child About Mom’s Boyfriend Abusing Her, And Now He’s Serving Life In Prison

Jill Biden kisses Kamala Harris' husband on the mouth

A look ahead to stars that could potentially dethrone LeBron James’ scoring record

Fans Are Losing It Over Pete Davidson’s Hair Transformation, It’s All Gone!

Cause of death confirmed in killings of rappers who went missing